Manila, April 1 -- Bank lending continued to grow by over 12 percent, while domestic liquidity expanded by more than 6 percent in February this year, the Bangko Sentral ng Pilipinas (BSP) said.

Preliminary data released late Monday showed that bank lending of universal and commercial banks (U/KBs) rose by 12.2 percent in February this year, slightly lower than the 12.8 percent recorded expansion in January.

Outstanding loans issued by U/KBs during the month amounted to PHP13.02 trillion from PHP13.01 trillion in January this year and PHP11.61 trillion in February last year.

Outstanding loans to residents, net of RRPs (reserve requirement for rural banks), increased by 12.6 percent while loans to non-residents decreased by 3.2 percent i...