Philippine bank lending expands 7.5 percent in August |
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Published
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Mon, 15 Oct 2007 08:00
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MANILA (Thomson Financial) - Philippine banks' outstanding loans expanded by an annual 7.5 percent in August, the highest monthly growth so far this year, central bank data showed Monday.It was a turnaround from the 0.4 percent decline recorded in the same month last year and faster than the 6.9 percent growth in July, the central bank said in a statement.The industry's outstanding loans totaled 1.968 trillion pesos at the end of August.(1 US dollar = 44.07 pesos)enrico.delacruz@thomson.comed/msCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Philippine shares outlook - Lower on profit-taking; caution ahead of BSP meeting 