• Loans of Philippine commercial banks, net of reverse repurchase placements, expanded at a slower pace of 13.4% from a year earlier in December compared with 13.9% growth in November, the Bangko Sentral ng Pilipinas said in a statement.
• Loans net of placements at central bank +2.3% m/m
• Inclusive of central bank placements, loans +13.1% y/y vs a revised 13.5% in Nov.; +2.3% m/m
• Loans for productive activities grew 12.1% y/y vs +12.6% last month
• Loans for household consumption rose 24.8% y/y vs +24.2% previously