BSP: February bank lending grows by 12.2%

Bank lending grew by 12.2% in February, faster than the 11.6% growth seen in January.

The increase is attributed to production loans, which make up 86.3% of total loans and saw a 9.6% rise in February compared to an 8.8% rise in January.

Sectors benefiting from increased lending include real estate (20%), financial and insurance activities (19%), electricity supply (9.7%), information and communication (22.5%), and construction (16.2%).

The BSP's monetary easing policies, including rate cuts totaling 150 basis points since Governor Diokno took office last year, contributed to the growth in lending.