Read this in The Manila Times digital edition.
Data issued on Friday by the Bangko Sentral ng Pilipinas (BSP) showed that the amount of bad loans in the Philippine banking sector has climbed to over P491 billion as of the end of August this year.
At the end of August, gross nonperforming loans (NPL) held by lenders have climbed by 61.28 percent to P491.92 billion, up from P304.99 billion a year earlier.
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