Lending up, M3 growth slows in Aug

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BANK lending continued to rise in August but money supply growth slowed, Bangko Sentral ng Pilipinas (BSP) data issued on late Friday showed.

The outstanding loans of universal and commercial banks, net of reverse repurchase (RRP) placements with the BSP, grew by 10.7 percent in August, slightly higher than the 10.4 percent recorded in the previous month.

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