August bank lending growth slows to 20.2%

Bank lending in the Philippines grew at a slower pace in August but still reflected the buoyant domestic economy, data from the Bangko Sentral ng Pilipinas (BSP) showed on Tuesday.

Outstanding loans granted by commercial banks, net of reverse repurchase (RRP) placements with the central bank, posted 20.2 percent growth in August, a slower rate from the revised 21.1 percent in July.