— Reuters
MANILA: Bank lending posted its fastest growth in almost two years in November 2024 due to a bigger appetite for business loans amid the ongoing rate cutting cycle of the Bangko Sentral ng Pilipinas (BSP).
Preliminary data showed outstanding loans of big banks, excluding their lending with each other, expanded by 11.1% year-on-year in November to 12.68 trillion pesos in November, beating the 10.6% loan growth in October, the BSP reported last Friday.
