Philippines:The ratio of non-performing loans has experienced an augmentation for the first time in a decade of months.

The non-performing loan ratio of commercial banks averaged 3.28% in January, according to the central bank. The previous month was 3.16%, the first increase in 10 months since March last year. It was 4.14% in the same month last year. Outstanding loans increased by 10.82% year-on-year to 12.348 trillion pesos, while total non-performing loans decreased by 12.24% to 405.138 billion pesos. Meanwhile, commercial banks’ total loan loss reserves totaled P430.48 billion, up 6.84% from P402.89 billion in the same month last year. (8th, Manila Bulletin)