Eastern Visayas banks post P48.77B deposits

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Wednesday, November 6, 2013


TOTAL deposits in banks in Eastern Visayas stood at P48.77 billion by the end of 2012, higher than the previous year, amid slackened regional economy last year, the Bangko Sentral ng Pilipinas (BSP) reported this week.

The latest figure on deposit liabilities is up by 13.4 percent from P42.99 billion in 2011, as eight new commercial and thrift banks opened last year.

Of the total loans from banks, P9.22 billion were in Leyte, P1.38 billion in Southern Leyte, P1.21 billion in Samar, P897.54 million in Eastern Samar, P516.04 million in Northern Samar, and P239.63 million in Biliran.

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BSP Tacloban Senior Researcher Ma. Theresa Labrador said that banks operating in Leyte posted the highest deposit data at P31.30 billion.

Other provinces also reported billion-peso deposit liabilities – Southern Leyte (P5.03 billion), Samar (P5.14 billion), Northern Samar (P3.62 billion), Eastern Samar (P2.37 billion) and Biliran (P1.28 billion).

All the six provinces of the region recorded an increase in bank deposit ranging from three percent to 19 percent between 2011 and 2012.

Deposit liabilities refer to money placed by an individual or corporation into a banking institution for safekeeping.

The region has 174 banks with 86 categorized as commercial banks, 25 thrift banks, and 63 rural banks. These banks also maintained 181 automated teller machines last year.

Meanwhile, total loans released by banks rose to P13.47 billion in 2012 from P11.30 billion in 2011.

“There’s 19.2 percent increase in net loan portfolio in 2012 due to improving business conditions in the region,” Labrador explained during the closing rites of the National Statistics Month.

In contrast, the Gross Regional Domestic Product (GRDP) nosedived to negative 6.2 percent in 2012 from positive 2.1 percent in 2011.

Eastern Visayas is the only region in the Philippines that posted a negative GRDP growth rate in 2012, according to the National Statistical Coordination Board. (Leyte Samar Daily Express)

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