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Bangko Sentral ng Pilipinas (BSP) said bank lending by the largest banks in the Philippines grew by 13% in November 2022 compared to last year.
In November, business loans increased by 12.4% due to sustained growth in lending to companies engaged in real estate, manufacturing, financial and insurance, and information and communication.
Similarly, consumer loans reached a 24.1% increase in borrowings from credit cards, motor vehicle purchases, and salary-based general-purpose consumption.
“Sustained growth in credit and domestic liquidity will continue to support economic activity and domestic demand,” BSP said.
Source: Inquirer.net
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