MANILA — Outstanding loans from universal and commercial banks (U/KBs) to businesses and individual consumers expanded in November, according to preliminary data.

Loans from U/KBs grew at a steady rate of 10.3 percent year-on-year in November. After adjusting for seasonal fluctuations, outstanding U/KB loans expanded by 0.9 percent month-on-month.

Outstanding loans to residents grew at a slightly slower pace of 10.7 percent in November, down from 10.9 percent in October. Meanwhile, loans to non-residents decreased by 4.5 percent, following an 11.1-percent contraction in the previous month.

Loans for business activities rose by 9.0 percent in November, with notable increases in several industries: real estate activities (9.0 percent); electricity, gas, steam, and airconditioning supply (26.6 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (11.6 percent); financial and insurance activities (3.5 percent); information and communication (7.0 percent); and transportation and storage (12.7 percent).

Consumer loans to residents—including credit card, motor vehicle, and general-purpose salary loans—grew by 22.9 percent from 23.1 percent.

The Bangko Sentral ng Pilipinas (BSP) monitors bank loans as they serve as a key transmission channel of monetary policy. The central bank said it will ensure that domestic liquidity and bank lending conditions remain aligned with its price and financial stability objectives.