June 18 2007
Business
The Bangko Sentral ng Pilipinas (BSP) on Monday reported that automobile loans (ALs) extended by universal/commercial banks (U/KBs) and thrift banks (TBs) continue to increase after reaching P74.7 billion as of end-March 2007.
It said March figure was 3.5 percent higher than the previous quarter's P72.2 billion and 19.9 percent higher than year-ago's P62.3 billion.
Exclusive of interbank loans (IBL), the central bank said, ALs represented 3.9 percent of total loan portfolio (TLP) of U/KBs and TBs' in the first quarter this year, higher than last quarter's 3.7 percent share and year-ago's 3.5-percent share.
"TBs, through their consumer finance window, kept their lead over U/KBs in extending ALs. TBs (including TB subsidiaries of U/KBs) accounted for 64.6 percent of total ALs," the central bank said.
On the other hand, proportion of past due ALs to total ALs stood at 5.1 percent as of end-March 2007, which the BSP said, is "better than last quarter's ratio of 5.2 percent but higher than year ago's 4.7 percent ratio."
The central bank said the improvement in the past due ratio "took place as the 1.1 percent buildup in past due ALs to P3.8 billion from P3.7 billion was outpaced by the expansion in total ALs."
It said the last three comparative periods ratio of past due ALs to TLP was contained at 0.2 percent, while ratio of past due ALs to non-performing loans (NPL) was at 2.4 percent, higher than last quarter's 2.2 percent and year ago's 1.5 percent ratios.(PNA)
Source: http://biz.balita.ph/html/article.php?story=20070618170525040
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