BSP says RRELS highest at P244 billion
Bangko Sentral ng Pilipinas says total residential real estate loans ( RRELs) reached P244.4 billion at endsecond quarter 2012, the highest so far since end-March 2008 with the redefinition of components of RRELs per Circular No. 600 dated 04 February 2008.
This was 5.1 percent (P11.9 billion) higher than last quarter's P232.6 billion and 23.2 percent (P46.1 billion) more than year ago's P198.4 billion.
Growth stemmed mostly from U/KBs, which accounted for 70.2 percent (P8.3 billion) of the P11.9 billion quarter-onquarter hike and 79.7 percent (P36.7 billion) of the P46.1 billion rise, year-on-year.
On the other hand, TBs held the remaining 29.8 percent (P3.5 billion) and 20.3 percent (P9.4 billion) of the cited quarterly and yearly increments.
By type of bank, universal/commercial banks (U/KBs) cornered a bigger share of total RRELs at 57.4 percent (P140.3 billion), better than the 56.8 percent (P132.0 billion) registered last quarter.
Consequently, thrift banks' (TBs) share of RRELs shrank to 42.6 percent (P104.1 billion) of total RRELs from 43.2 percent (P100.6 billion).
As a proportion of total loan portfolio (TLP), RRELs maintained the previous quarter's 6.7 percent ratio following the approximately equal growth rates earned by TLP (5.8 percent) and RRELs (5.1 percent).
Said ratio however increased over year ago's 6.2 percent owing to the faster growth rate of RRELs (23.2 percent), which was almost twice that of TLP (13.4 percent).
The continued growth of RRELs notwithstanding, the quality of home loans improved to 4.0 percent as the reduction in non-performing RRELs to P9.7 billion from last quarter's P9.8 billion complemented the increase in RRELs.
Likewise, non-performing RRELs to total RRELs eased on a year-on-year comparison from 5.1 percent. In contrast, non-performing RRELs to total NPLs ratio rose to 7.7 percent from 7.4 percent last quarter albeit better than year ago's 7.8 percent. Despite the improving loan performance ratios, banks increased their buffers, reaching 43.0 percent.