7 months FCDU loans stand at $16.8 B in Q1 MB |Biz
By Lee C. Chipongian Banks’ foreign currency deposit units (FCDU) loans amounted to $16.8 billion as of end-March, up 1.3 percent from end-December 2018’s $16.6 billion, the Bangko Sentral ng Pilipinas (BSP) reported Friday. The growth of FCDU loans was due to disbursements exceeding principal repayments. “The said loan growth may be attributed to the borrowing firms’ higher working capital requirements as well as increased investment in plant or equipment,” said the BSP. On a year-on-year basis, FCDU loans increased by 2.7 percent or $447 million from end-March 2018’s $16.4 billion. The BSP said the maturity profile of the FCDU ... more