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MANILA, Philippines – Philippine banks’ total assets posted a double-digit expansion in April, lifted by loan growth despite the headwinds from the Middle East conflict.
Total resources of local lenders grew by 12 percent from a year earlier to P30.1 trillion, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.
READ: Philippine bank assets near P30 trillion, driven by lending surge
The figure includes cash and due from banks, loans, investments, real and other properties acquired and other assets.
