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MANILA, Philippines – Banks modestly increased their exposure to the property sector in the first quarter, providing support to an industry grappling with volatility and the economic fallout from the conflict in the Middle East.
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed that real estate loans of local banks and their trust units had amounted to P3.2 trillion as of end-March, cornering 19.07 percent of the industry’s total lending portfolio.
READ: Pag-Ibig raises housing loan limit to P10M
The ratio was slightly higher than the 18.93 percent recorded at the end of the preceding quarter, when credit extended to the property sector reached P3.1 trillion.
