Figures released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed that the amount of bad loans in the Philippine banking system has risen to over P487 billion as of the end of July this year.
Lenders' gross nonperforming loans (NPL) increased by 66.34 percent to P487 billion at the end of July, up from P292.76 billion a year earlier.
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