Image via WikipediaUniversal and commercial banks’ soured loans in relation to total loans rose in July, the central bank said on Friday.
In a statement, the Bangko Sentral ng Pilipinas (BSP) said the non-performing loan (NPL) ratio of these banks stood at 3.37% in July, higher by 0.12% from the previous month’s 3.27%, but lower than the 3.49% in the same period last year.
July, the BSP noted, was the 22nd month the NPL ratio fell below 4%.
NPLs are loans whose principal or interest were unpaid 30 days or more after the due date.
The BSP said the month-on-month change took place because banks’ total loans declined faster than their disposal of soured loans.
NPLs fell to P85.73 billion in July from the previous month’s P87.67 billion, while their total loans dropped to P2.544 trillion from P2,681 trillion.
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