Bank lending growth skid to 4-month low in June

Bangko Sentral ng Pilipinas

MANILA, Philippines — Bank lending slowed to its weakest pace in four months in June as businesses and households grew more cautious about taking on debt, reflecting mounting anxiety over an economy facing multiple headwinds.

Loans from big banks rose 9.8 percent from a year earlier to P14.9 trillion, latest data from the Bangko Sentral ng Pilipinas (BSP) showed. This was the slowest pace of expansion since February, when lending grew 9.6 percent.

READ: PH banks see steady lending standards in Q3

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