PHILIPPINE BANKS’ nonperforming loan (NPL) ratio worsened in July as soured debt rose, preliminary Bangko Sentral ng Pilipinas (BSP) data showed.
Banks’ gross NPL ratio rose to 3.35% in July from 3.29% a month earlier, but eased from 3.4% in the same month last year.
This was the highest bad loan ratio in two months or since 3.44% in May.
Banks saw P585.081 billion in nonperforming loans at end-July, 9.27% higher than the P535.448 billion recorded a year ago. Month on month, soured loans inched up by 0.02% from P584.971 billion as of June.
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