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Banks real estate lending up by 17% as of Sept.
Byline: Michelle V. Remo
REAL ESTATE LOANS EXTENDed by universal, commercial and thrift banks posted double-digit growth in September.
The Bangko Sentral ng Pilipinas reported yesterday that bank loans used for the purchase of real properties reached P367 billion as of end-September, up 17 percent from P313 billion a year ago.
Officials said the increase in loans for commercial real properties was consistent with the continued growth of the economy this year, although at a slower pace than what was seen last year.
Commercial real properties accounted for the biggest share of real estate loans extended by banks during the period, at P204 billion. …
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