Banks Q2 real estate exposure up 22% on-yr

Philippine Banks’ exposure to real estate expanded by nearly 22 percent year-on-year in the second quarter of 2014 and by 6 percent from the preceding quarter, the central bank said.

The real estate exposure (REE) of universal, commercial and thrift banks in the country stood at P1.097 trillion at end-June, broadening by 21.9 percent from the P900 billion exposure recorded a year earlier, and by 6 percent from P1.035 trillion at end-March, data released by the Bangko Sentral ng Pilipinas (BSP) over the weekend showed.