Banks’ bad debts hit 7-quarter high at P156.1 billion

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Banks’ bad debts hit 7-quarter high at P156.1 billion - Business Mirror

Quick Summary:

HIGH non-performing loans (NPLs) from credit card and salary-based borrowings drove the banking industry’s bad debts to its highest level in seven quarters, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).

This is the highest since the P34.293 billion posted in September 2023.

We saw some high NPLs during Covid even on the mortgage side, so we’re watching to see how these unsecured loans season,” Gold said.