MANILA, Philippines — The share of bad loans on Philippine banks’ lending books rose in July, as more borrowers fell behind on credit card and motor vehicle payments amid persistently high inflation.
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed nonperforming loans (NPLs), or debts that remain unpaid 90 days past the due date and at risk of default, accounted for 3.35 percent of lenders’ total loan portfolio.
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That figure, also known as the gross NPL ratio, was higher than 3.29 percent recorded in June.FEATURED STORIES
