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Update on Thrift Banks' Exposure to the Real Estate Sector

10.17.2002

The exposure of the thrift banking industry to the real estate sector was relatively static at P41.7 billion but up by 21.7 percent from a year ago level of P34.3 billion. This quarter’s real estate lendings (RELs) fell to 27.2 percent of total loan portfolio from 29.0 percent a quarter ago. As in the past periods, bank proper accounted for 99.6 percent of the entire industry’s exposure. Meanwhile, past due portion of RELs rose to 13.8 percent this quarter, as compared to last quarter’s 12.8 percent and year ago’s 12.1 percent.

On a regional basis, REL exposures were concentrated in NCR-Metro Manila with 75.0 percent, followed by Region IV – Southern Tagalog with 10.1 percent and Region III – Central Luzon with 4.9 percent. Region II – Cagayan Valley had the biggest increase in RELs with 340.9 percent from P31.8 million last quarter to P140.1 million this quarter. By purpose, concentration of RELs remained in the acquisition of residential property at 53.9 percent followed by other purposes with 15.2 percent and development of subdivision for housing at 15.1 percent.

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