Lending by PH banks’ foreign currency deposit units declined 2.7% in Q2

Top sectors who took out loans are merchandise and service exporters, and power companies.

Top sectors who took out loans are merchandise and service exporters, and power companies.

Outstanding loans granted by foreign currency deposit units (FCDU) of Philippine banks stood at $15.63b as of end-June 2024, lower by 2.7% or by $438.58m by end-March.

Compared to Q2 2023, outstanding FCDU loans were 1.6% higher, according to data from the Bangko Sentral ng Pilipinas (BSP).

The maturity profile of the FCDU loan portfolio remained predominantly medium- to long-term— or those payable over a term of more than one (1) year— which comprised 76.7% of total in Q2.

FCDU loans granted to residents was $9.48b or 60.7% of the total loans.

Majority went to merchandise and service exporters ($2.49b or 26.2%), power generation companies ($2.12b or 22.4%); and towing, tanker, trucking, forwarding, personal and other industries ($1.68b or 17.7%).

Bangko Sentral ng Pilipinas

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