• Big banks’ bad loans decline in Sept.

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    Universal and commercial banks (U/KBs) kept its gross nonperforming loans (NPLs) low in September this year, data from the Bangko Sentral ng Pilipinas (BSP) showed on Monday.

    The banks’ gross NPLs, which are the actual level of “bad loans,” represented 2.6 percent of their total loan portfolio (TLP).

    “The gross NPL ratio stayed low amid a year-on-year decline in soured loans and the continued rise in lending,” the BSP stated.

    The central bank data added that U/KBs posted P102.09 billion in NPLs in September, lower than the P103.42 billion recorded a year earlier.

    Meanwhile, the banks’ TLP increased to P3.92 trillion in September from P3.44 trillion during the same month last year.

    The BSP noted that the industry also continued to set aside substantial reserves for potential credit losses as U/KBs provisioned for 128.80 percent of their gross NPLs in September.

    Mayvelin U. Caraballo

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