March bank lending slowest in 17 mths

BANK lending in March grew at its slowest pace in 17 months as loans for production activities eased from February, the central bank said.

Data for March from the Bangko Sentral ng Pilipinas (BSP) showed a 13.7-percent rise in outstanding loans granted by commercial banks, excluding reverse repurchase placements (RRP) with the central bank, slower than the 15.2-percent increase recorded in February.