Bank’s bad loans incurred by the Philippine banking system already breached the P400-billion mark in the first 11 months of 2020, according to the Bangko Sentral ng Pilipinas (BSP).

Preliminary central bank data showed over the weekend that lenders’ gross nonperforming loans (NPL) picked up to P404.68 billion in January to November last year, rising by 73.63 percent from P233.06 billion in the first 11 months of 2019.