BAD DEBTS held by big banks declined for a seventh straight month in September, bringing the nonperforming loan (NPL) ratio to its lowest in 25 months as the economy continued to reopen. READ
The banking industry’s nonperforming loans dropped by 14.6% year on year to P415.225 billion in September from P486.362 in the same month last year, based on the latest data from the Bangko Sentral ng Pilipinas .This brought the systemwide NPL ratio to 3.43% in September, easing from 3.53% in August, and 4.44% in September 2021.Loans are deemed as nonperforming once a borrower has not paid for at least 90 days after the due date.
Since March, Metro Manila and most provinces have been under the most lenient alert level that allowed businesses to operate at full capacity. Meanwhile, past due loans fell by 14.5% to P488.714 billion in September from P571.597 billion in 2021, bringing the current ratio to 4.04% from 5.21% a year ago.
Banks continued to build up loan loss reserves to P424.643 billion in September from P410.605 billion a year ago, bringing the ratio to 3.51% from 3.74% a year earlier.China Banking Corp. Chief Economist Domini S. Velasquez said banks’ bad loans may continue to decline in the coming months as businesses continue to bounce back.
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