By Katherine K. Chan, Reporter
THE PHILIPPINE BANKING sector’s nonperforming loan (NPL) ratio worsened in July as elevated inflation and higher borrowing costs drove up bad debts, preliminary Bangko Sentral ng Pilipinas (BSP) data showed.
Banks’ gross NPL ratio climbed 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.
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