14 Aug '11, 3am

Philippines Digest: tourism business in Makati, lower SSS rates, and more

A report from the Bangko Sentral ng Pilipinas (BSP) showed that loans from commercial banks have steadily grown at double-digit growth rates since January this year . “Loans for production activities-which comprised more than four-fifths of commercial banks’ total loan portfolio-expanded by 20.6 percent in June from 19.0 percent (revised) a month earlier. Meanwhile, the growth in consumer loans decelerated to 14.1 percent from 14.9 percent due to the slowdown recorded in the growth of credit card receivables and auto loans by 6.2 percent and 25.8 percent, compared to 9.1 percent and 29.0 percent in May, respectively,” the report said.

Full article: http://sgentrepreneurs.com/news-stop/2011/08/14/philippin...

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