Loans from universal and commercial banks (U/KBs) grew at a faster pace in March 2026, providing stronger support for business production and household consumption.
According to preliminary data from the Bangko Sentral ng Pilipinas (BSP), loan growth accelerated to 10.7% year-on-year in March from a revised 9.6% in February.
Seasonally adjusted, outstanding U/KB loans rose by 1.7% month-on-month.
Business loans expanded by 9.7% in March from 8.6% in February, with notable increases in real estate (8.8%), electricity and gas supply (26.7%), wholesale and retail trade (9.3%), and transportation and storage (19.4%).
Consumer loans to residents grew by 20.5%, slightly slower than February’s 20.8%, due to weaker motor vehicle and salary-based consumption loans.
Outstanding loans to residents rose by 11.1% in March from 10.2% in February, while loans to non-residents fell by 5.9%, easing from a 13.2% decline previously.
The BSP emphasized that bank lending remains a key transmission channel of monetary policy. Looking ahead, the central bank will ensure domestic liquidity and lending conditions stay aligned with its price and financial stability objectives.
