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Bank lending growth accelerates to 11.4% in September

2 min readBy KasKasan Buddies
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Loans from universal and commercial banks grew by 11.4% year on year in September 2026, up from 11% in August, as business and consumer borrowing continued to expand.

  • Loans extended by Philippine universal and commercial banks grew faster in September 2026, reflecting continued borrowing demand from businesses and consumers.
  • Outstanding loans from universal and commercial banks increased by 11.4% year on year in September, up from 11% in August, according to the Bangko Sentral ng Pilipinas (BSP).
  • Loans to resident borrowers, which make up most of the banking sector's total lending, recorded an even faster expansion of 11.7% during the month.

Loans from universal and commercial banks grew by 11.4% year on year in September 2026, up from 11% in August, as business and consumer borrowing continued to expand.

  • Loans extended by Philippine universal and commercial banks grew faster in September 2026, reflecting continued borrowing demand from businesses and consumers.
  • Outstanding loans from universal and commercial banks increased by 11.4% year on year in September, up from 11% in August, according to the Bangko Sentral ng Pilipinas (BSP).
  • Loans to resident borrowers, which make up most of the banking sector's total lending, recorded an even faster expansion of 11.7% during the month.

Loans extended by Philippine universal and commercial banks grew faster in September 2026, reflecting continued borrowing demand from businesses and consumers.

Outstanding loans from universal and commercial banks increased by 11.4% year on year in September, up from 11% in August, according to the Bangko Sentral ng Pilipinas (BSP).

Loans to resident borrowers, which make up most of the banking sector's total lending, recorded an even faster expansion of 11.7% during the month.

Business and consumer borrowing continue to grow

Loans to resident businesses increased by 11% in September, supported by higher financing extended to several major industries.

These included electricity, gas, steam, and air-conditioning supply; manufacturing; real estate; transportation and storage; wholesale and retail trade, including the repair of motor vehicles and motorcycles; and financial and insurance activities.

Consumer lending also maintained its momentum, with loans to residents rising by 16.2% year on year.

The BSP attributed part of the increase to continued growth in credit card and motor vehicle loans, indicating sustained demand for financing among Filipino households.

BSP monitors lending activity

The central bank tracks bank lending because it serves as an important channel through which monetary policy affects economic activity.

Changes in lending conditions can influence how much households and businesses borrow, spend, and invest. The BSP said it would continue monitoring credit conditions to ensure they remain aligned with its objectives for price and financial stability.

The faster growth in September suggests that borrowing activity remained active across key sectors of the economy, even as the central bank continues to assess lending conditions and potential risks.