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Update on NPLs/NPAs of Universal/Commercial Banks as of October 2003

12.23.2003

NPL ratio for October 2003 increased to 15.16 percent from 14.49 percent the previous month and from 16.36 percent a year ago. Likewise, the NPL ratio, net of Interbank Loans slightly rose to 17.75 percent from last month’s 17.02 percent ratio and a year ago’s 18.64 percent ratio. This developed as the industry’s TLP contracted by 3.0 percent to P1,668.6 billion while NPLs rose by 1.5 percent to P253.0 billion.

Restructured Loans and Real and Other Properties Owned or Acquired also went up from last month by 0.5 percent to P134.0 billion and by 0.4 percent to P193.9 billion, respectively. The industry’s non-performing assets subsequently grew by 1.0 percent to P446.9 billion from P442.4 billion last month. This resulted in an NPA ratio of 13.42 percent (vs. 13.25 percent last month).

Meanwhile, the industry’s NPL coverage ratio of 50.07 percent remained relatively high though slightly lower than the 50.11 percent NPL coverage ratio the previous month. On the other hand, the NPA coverage ratio slightly improved to 31.33 percent from 31.22 percent as the industry’s NPA reserves (LLRs plus provision for ROPOA) went up to P140.0 billion from P138.1 billion last month.

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