Outstanding loans granted by Foreign Currency Deposit Units (FCDU) of banks stood at US$15.82 billion as of end-December 2024, an increase of US$72.43 million or by 0.5 percent from the end-September 2024 level of US$15.75 billion as disbursements exceeded principal repayments.
Year-on-year, outstanding FCDU loans increased by US$658.56 million or by 4.3 percent from the end-December 2023 level of US$15.16 billion.
For the reference quarter, the maturity profile of the FCDU loan portfolio remained predominantly medium- to long-term [or those payable over a term of more than one (1) year], which comprised 77.1 percent of total, slightly lower than 77.3 percent from the previous quarter.
FCDU loans granted to residents stood at US$9.91 billion or 62.7 percent of total outstanding, of which majority went to the following sector/industries: merchandise and service exporters (US$2.52 billion or 15.9 percent); towing, tanker, trucking, forwarding, personal and other industries (US$2.24 billion or 14.1 percent); and power generation companies (US$1.93 billion or 12.2 percent).
Gross disbursements in the fourth quarter of 2024 stood at US$9.81 billion lower by 54.9 percent than the previous quarter’s US$21.77 billion primarily driven by a foreign bank branch’s adjustment in its funding strategy for its affiliate.
Similarly, loan repayments in the reference quarter of US$9.70 billion were 55.3 percent lower than previous quarter’s US$21.68 billion. These resulted in overall net disbursement.
FCDU deposit liabilities reached US$55.46 billion as of end-December 2024, lower by about US$2.00 billion (or by 3.5 percent) from the end-September 2024 level of US$57.46 billion.
The bulk of these deposits (US$54.14 billion or 97.6 percent) continued to be owned by residents, essentially constituting an additional buffer to the country’s gross international reserves.
Year-on-year, FCDU deposit liabilities increased by US$1.04 billion (or by 1.9 percent) from the end-December 2023 level of US$54.42 billion.
