The non-performing loans (NPLs) of banks in the Philippines eased to 3.54 percent in November 2024 from 3.60 percent in the previous month, data from the Bangko Sentral ng Pilipinas (BSP) showed.
NPLs refer to loans that are considered impaired under existing accounting standards and classified as doubtful or loss on evidence that full repayment of principal and interest is unlikely without foreclosure of collateral, if any.
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Data from the BSP showed that gross NPLs reached P520.53 billion as of end-November, lower than P524.31 billion as of end-October 2024.
Total outstanding loans of Philippine banks reached P14.7 trillion as of end-November, up from P14.5 trillion in October.
