Manila, Philippines—Consumer loans coming from various universal, commercial, and thrift banks reached PhP 932.8 billion in the first quarter of 2015, an increase of 3.36 percent from the PhP 902.5 billion recorded a quarter earlier. This sustains the quarter-on-quarter growth in consumer loans since 2008, according to Bangko Sentral ng Pilipinas.

Home loans, in particular, increased by 25.8 percent from PhP326.92 billion to PhP411.44 billion in the same quarter in review.

While consumer lending expanded, commercial and thrift banks kept the level of their non-performing consumer loans manageable.  In the first quarter of 2015, the banks’ non-performing consumer loans represented 4.9 percent of their total loans, practically unchanged compared to the 4.8 percent posted a quarter earlier.

Furthermore, Philippine banks’ consumer credit exposure at 16.7 percent of total loan portfolio remained lower in the region compared to Malaysia at 53.8 percent; Thailand, 27.7 percent; and Singapore at 25.8 percent.