Bank lending growth slows to 6.2% in Sept

Bank lending increased 6.2 percent in September, slowing down from its 7.1-percent growth rate in August, the Bangko Sentral ng Pilipinas reported Thursday. Including placements with the central bank itself, the industry's outstanding loans reached P1.977 trillion. Month-on-month, lending declined by 0.3 percent, a reversal of the 0.2 percent growth registered a month ago. The BSP said bank lending to all sectors of the economy, except mining and utilities (electricity, gas, and water), expanded during the period. Lending to the transportation, storage and communication sector led the expansion, growing at a robust pace of 23.7 percent. - GMANews.TV