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BPI Family Bank is already ahead of industry in terms of auto loan growth in the first half of this year but targets to further move ahead in the second half.
BPI Senior Vice President David Sarmiento told reporters Wednesday they are pleased with the performance of their auto loans from January to June this year.
“We are slightly ahead of the industry sales,” he said.
This, after the BPI registered a 38.6 percent year-on- year growth in their auto loans in the first six months this year.
Sarmiento said historically banks’ car lending business is slow in the first and second quarters of the year.
He attributed this to the Christmas hang-over in January and the school-related expenses in May and June.
“Second half is expected to be strong in terms of auto loans,” he said.