In the Philippines, “auto lending remains the shining star of the overall lending industry,” according to Euromonitor International. More than a quarter of a million new vehicles were registered in 2015, “owing to aggressive promotions/campaigns from retail banks.” From March to September 2016, a period of six months, auto loans increased by 8 percent from P323 billion to P364 billion, representing 5 percent of the banks’ total loan portfolio.
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