8 months FCDU loans up 7.8% end 2018 MB |Biz
By Lee C. Chipongian Banks’ foreign currency deposit units’ (FCDU) outstanding loans grew by 7.79 percent year-on-year to $16.6 billion as of end-December 2018 from $15.4 billion in the previous year as disbursements outpaced principal repayments. The Bangko Sentral ng Pilipinas (BSP) said quarter-on-quarter, FCDU loans rose by 3.1 percent or from $16.1 billion end-September last year. “The said loan growth may be attributed to the customers’ higher working capital requirements and investment in plant or equipment, as well as banks’ more attractive financing terms,” said the BSP. Last year’s gross disbursements went up by 9.6 percent year-on-year to $64.9 ... more