FCDU Loans Up by $248M in the Third Quarter
Manila—(PHStocks)—Bangko Sentral ng Pilipinas—BSP Governor Amando M. Tetangco Jr. has announced that as of end-September 2013, outstanding FCDU loans stood at $10 billion, up by $248 million (or 2.6%) from the end-June 2013 level of $9.7 billion.
The rising trend in outstanding FCDU loans during the past three (3) quarters may be attributed to the growth in external trade and positive business sentiment due to strong macro-economic fundamentals.
The maturity profile of outstanding FCDU loans was as follows: medium- to long-term (MLT) loans [or those payable over a term of more than one (1) year] represented 63.5% of total, while short-term (ST) accounts [or those with original maturities of up to one (1) year] comprised the 36.5% balance.
Loans to resident borrowers (mainly the private sector) represented 81.6% ($8.1 billion) of the total portfolio, with the following sectors/industries as major beneficiaries: public utility firms (21.3%); merchandise and service exporters (15.4%); and producers/manufacturers, including oil companies (14.7%).
Gross disbursements during the quarter increased to $11.6 billion from the previous quarter’s $8.1 billion. The bulk of loan releases (93.9%) had short-term maturities, which were largely (74.3%) for working capital requirements.
FCDU deposit liabilities increased by $525 million (or 2%) to reach $26.2 billion from $25.6 billion in June 2013. The bulk of the deposits (97.7%) continued to be held by residents. The loans to deposit ratio slightly improved to 38.1% from 37.9% in the second quarter.
