Banks’ NPL ratio falls to 26-month low on Oct 22

• The Philippine banking industry’s bad loans fell for the eighth straight month on Oct 22, bringing the nonperforming loan (NPL) ratio to its lowest in 26 months, data from the Bangko Sentral ng Pilipinas (BSP) showed.
• Based on BSP data, banks’ gross NPL ratio dropped to 3.41% on Oct 22, from 4.42% on Oct 21 and 3.42% on Sep 22. The Oct 22 bad loan ratio was the lowest in more than two years or since 2.84% on Aug 20.
• “Falling NPLs is consistent with the nearly full reopening of the economy,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri, Jr. said in a Viber message. Since Mar 22, Metro Manila and most provinces in the country have been under the most lenient alert level, allowing businesses to operate at full capacity.

External Link : https://www.bworldonline.com/top-stories/2022/12/13/492587/banks-npl-ratio-falls-to-26-month-low-in-oct/