ENP Newswire -
Release date- 04082014 - The gross non-performing loans (NPLs) of thrift banks (TBs) represented 4.94 percent of the banks' total loan portfolio (TLP) of
The March figure improved from the 5.46 percent gross NPL ratio registered a quarter earlier as TBs' NPLs dropped amid a rise in their TLP.
The banks' NPLs stood at
Aside from low NPL levels, the banks set aside substantial reserves for potential credit losses. At end-March, TBs' allocated loan loss reserves equivalent to 69.37 percent of their gross NPLs, slightly lower than the 72.51 percent posted a quarter earlier.
The TBs' NPLs also remained low across economic activities as gleaned from manufacturing; real estate; other community, social and personal service act; private households with employed persons; loans to individuals for consumption purposes; and financial intermediation.
The Bangko Sentral ng Pilipinas (BSP) monitors the NPL levels and loan loss provisioning of all types of banks as part of its efforts to promote high credit standards. This is essential to the maintenance of financial stability, which is a key policy objective of the BSP.
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