THE collective bad loan ratio for Philippine banks edged down in September, data from the Bangko Sentral ng Pilipinas (BSP) showed, improving to 3.47 percent from 3.59 a month earlier but higher than yearago 3.40 percent.

The central bank defines non-performing loans (NPL) as past-due loans where the principal or interest is unpaid for 90 days or more after the due date, including the outstanding balance of loans payable in monthly installments when three or more installments are in arrears.

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