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MANILA - Real estate loans shot up to their highest in more than four years in the second quarter of 2012, the Bangko Sentral ng Pilipinas said on Thursday.
In a report, the BSP said property sector loans issued by banks stood at P244.4 billion at end-June, 23.2 percent higher than a year ago and 5.1 percent more than the amount outstanding at end-March.
The second-quarter figures was the highest since the BSP redefined residential real estate loans
Big banks cornered 57 percent of total outstanding real estate loans, and thrift lenders the balance of less than 43 percent.
As a proportion of banks' total loan portfolio, real estate loans in the second quarter were unchanged from the first quarter at 7 percent.
As to loan quality, non-performing real estate loans dropped to 4 percent of total property sector loans in the second quarter this year from 5.1 percent in the same period last year.
As a proportion of total bad loans, the share of non-performing real estate loans was unchanged at 7.8 percent.
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