Bank credit fell 5% in April

BW FILE PHOTO

LOAN by the big banks in April contracted by its fastest pace since 2004, reflthe impact of tighter lockdowns on lenders and borrowers.

Large banks’ outstanding loans fell 5% to 8.998 billion pesos in April from 9.474 billion pesos a year ago, based on preliminary data released by the Bangko Sentral ng Pilipinas (BSP) Monday.

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