  Secondly, banks are required to classify accounts as NPA where there are inherent weaknesses observed in the account even if there are few credits recorded before balance sheet date to avoid NPA classification.
For the first quarter of 2005, the country’s gross domestic product (GDP) grew by 4.6 percent and driven primarily by growth in the services and industrial sectors. BSP’s prudent monetary policy, anchored on inflation targeting, kept key overnight policy rates steady.