Philippine banks’ March bad loan ratio softens

PHILIPPINE BANKS’ bad loan ratio eased to a three-month low in March as total loans increased, according to data from the Bangko Sentral ng Pilipinas (BSP).

The industry’s gross bad loan ratio dipped to 3.3% from 3.38% in February and 3.39% a year earlier.

Bad loans inched up 0.5% to P516.12 billion at end-March from a month earlier and climbed 11.1% from a year ago.