S&P sees steady growth in bank lending despite slowing PHL economy

By Katherine K. Chan, Reporter

BANK LENDING in the Philippines may continue to post double-digit growth this year, S&P Global Ratings said, even as the flood control fiasco continues to dampen business and consumer confidence.

S&P Global Ratings Director Nikita Anand said they still see banks’ loan growth ranging between 11% and 13% this year, unchanged from their earlier projection.