BY ANGPING & ASSOCIATES SECURITIES
Consumer loans rose 21.0% to PHP 849.7 billion as of end-September last year from PHP 702.6 billion in the same period in 2013.
The latest level is also 6.0% higher than the PHP 804.1 billion recorded in end-June.
The increase was driven by a 24.8% jump in residential real estate loans to PHP 382.5 billion from PHP 306.4 billion and a 20.0% climb in auto loans to PHP 217.4 billion from PHP 181.1 billion.
Credit card receivables went up 3.0% to PHP 156.5 billion as of end-September from PHP 151.9 billion in the same period in 2013, while other consumer loans slid 28.0% to PHP 45 billion from PHP 63.1 billion.
In end-September last year, household loans made up 16.7% of the banks’ total loan portfolio.
The Banks’ non-performing consumer loans continue to go down to PHP 42.0 billion from the recorded PHP 43.0 billion in 2013.