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Thrift Banks' Exposure to the Real Estate Sector as of March 2003

06.27.2003

The industry’s exposure (bank proper and trust department) to the real estate sector decreased by 1.5 percent to P42.5 billion from last quarter’s P43.1 billion. Year-on-year, however, real estate loans (RELs) grew by 1.8 percent from P41.7 billion. The thrift banks’ bank proper accounted for 99.9 percent of the total credit exposure to RELs and only 0.1 percent by the thrift banks’ trust department.

Past due RELs ratio stood at 17.3 percent, higher by 4.4 percent a quarter ago. Past due RELs rose by 31.7 percent to P7.3 billion while total RELs receded by 1.5 percent to P42.5 billion.

As to purpose of loans, the Acquisition of Residential Property at P25.5 billion or 60.2 percent (vs. 55.9 percent last quarter) was still the biggest beneficiary of RELs. This was followed by the Development of Subdivision for Housing at P6.4 billion or 15.0 percent (vs. 14.7 percent last quarter).

There was no significant change in the regional distribution of RELs. The RELs of both bank proper and trust department of thrift banks continued to be concentrated in the National Capital Region (NCR) at 75.0 percent and 90.9 percent, respectively.

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