Foreign currency deposit unit (FCDU) loans decreased by 0.8 percent in the first quarter to $15.44 billion. This was down by $122.25 million from $15.56 billion in the previous quarter.

Of the total outstanding loans, $10.44 billion or 67.6 percent were extended to Philippine-based borrowers, while the rest went to non-residents. Major Philippine-based borrowers included:

Merchandise and service exporters ($2.75 billion or 26.4 percent);

Towing, tanker, trucking, forwarding, personal and other industries ($2.51 billion or 24 percent); and

Power generation companies ($1.85 billion or 17.7 percent).​​

Most loans were medium- to long-term, with maturities over one (1) year. These accounted for 77.1 percent of the total, lower than the 79.2 percent in the previous quarter.

As of end-March, outstanding loans reflected US$8.25 billion in new loans and US$8.36 billion in loan payments made during the reference quarter.

FCDU loans are foreign currency-denominated loans extended by FCDUs of local banks or local branches of foreign banks authorized by the BSP to engage in foreign currency transactions. These loans support economic activities that require foreign exchange, such as importers, businesses, and individuals with foreign currency transactions. ​Bangko Sentral ng Pilipinas