Bank credit fell 5% in April


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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