September 29, 2017 / 8:41 AM / 23 days ago

Philippines' M3, bank lending growth quicken in August

    MANILA, Sept 29 (Reuters) - The Philippine central bank on
Friday released preliminary data for August domestic liquidity
(M3) and bank lending.
    
 M3 (pct  change yr/yr)        Aug    Jul    Jun    May    Apr
                              15.4   13.5   13.3   11.3   11.2
 Bank lending                                                  
 (pct change yr/yr)                                            
 Total loans net of reverse   20.4   19.7   19.0   18.7   19.2
 repurchase (RRP) deals                                     
 Total loans with RRP         17.9   18.7   18.3   17.4   16.0
 Seasonally adjusted data                                      
 Total loans net of RRP        1.8    1.7    1.4    1.7    1.1
 Total loans with RRP          0.8    1.4    1.9    3.3    0.4
 
 NOTE: The July figures were revised.
    
    - Accelerating for the fourth straight month, the liquidity
growth was driven mainly by demand for credit and remained
consistent with the central bank's prevailing outlook for
inflation and economic activity, it said in a statement.
    - Production loans, comprising 88.5 percent of the combined
loan portfolio of universal and commercial banks, grew 19.5
percent in August from a year earlier, accelerating from the
previous month's 18.9 percent rise.
    - Consumer loan growth quickened to 22.8 percent from 22.3
percent in July.

 (Reporting by Enrico dela Cruz; Editing by Subhranshu Sahu)
  

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