Bank lending in March at fastest pace

Bank lending was at its fastest pace in March as loans for productive sectors of the economy continued to rise, prompting the central bank to monitor credit and liquidity conditions more closely to maintain price and financial stability.

Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that outstanding loans of commercial banks, net of reverse repurchase (RRP) placements with the central bank, grew by 20 percent in March following a 19.4 percent increase the preceding month.