The securitised portfolio consists of general purpose loans
, auto loans, debt consolidation loans and student loans granted to individuals.
"The slower increase in motor vehicle loans and salary-based general purpose loans
as well as the contraction in other types of household loans offset the faster expansion in credit card loans in March," said the BSP.
The slower increase in motor vehicle loans and contraction in other types of household loans offset the faster expansion in credit card loans and salary-based general purpose loans
This portfolio arises from credit cards, general purpose loans
, overdraft loans, commercial loans, cheque accounts, insurance receivables and expenses.
Lending for household consumption meanwhile rose 22.8 percent in August, from 22.3 percent in July, on higher exposure auto loans and credit card loans as well as sustained growth in salary-based general purpose loans
and other types of household loans, the BSP said.
Continuing its top honors as a one of the largest private money lenders in the California real estate market for the last three years straight, Val-Chris demonstrated its ability as a trusted lender by serving the needs of first-time home buyers, buyers seeking to refinance their homes for business purpose loans
, and investors who are either denied access to or shut out from securing loans from traditional mortgage lenders.
Digging further into the details, the growth trend in the general purpose loans
remains elevated, while it softens in the consumer credit card segment.
It offers commercial and industrial purpose loans
with terms of three, five and seven years and commercial real estate loans financed for up to 15 years.
"Elsewhere banks were extending 10-year general purpose loans
. Here the average maturity of general purpose loans
is below three years."
two of the town's general obligation municipal purpose loans
($4,228,000 for 1998 and $6,212,000 for 2002).
Arab banks have also given general purpose loans
, in many cases without knowing how the funds will be used, exposing their retail portfolios to the vagaries of property or equity markets.