Pelina, Carlos Jade L.

October 30, 2021

BTLED – Home Economics 2

JOURNAL NO. 3

Title:
“Bank loans grew for 2nd straight month in September”

Date Published: October 30, 2021, 05:22 am

Author: Daxim Lucas (Philippine Daily Inquirer)

Vocabulary and Its Definition:

Credence – belief in or acceptance of something as true. (Merriam’s Webster
Online Dictionary, 2021).
Ravage – cause severe and extensive damage to. (Merriam’s Webster Online
Dictionary, 2021).
Traction – the support or interest that is needed for something to make progress
or succeed. (Merriam’s Webster Online Dictionary, 2021).

Article Summary:

The article is all about the growth of bank loans for the month of September and
October that financial credence lending updrafts because of being ravaged by the
pandemic. According to Lucas (2021), BSP showed the preliminary data that the
outstanding loans of universal and commercial banks rose by 2.7% year per year on
September. It has double rate in August that is 1.3%.

Borrowers and lenders shied away from credit due to pandemic related
uncertainties. Despite of that, Lucas (2021) added that BSP will continue to provide and
give monetary support to allow economic recovery to gain more interest and the
financial stability will be mandated.

Reaction:

As I read the article, It is quite alarming that the debt and loan percentage were
increasing because of the pandemic and many of us were lost source of income and
job and getting a loan is the only choice to sustain the needs of his/her family.

REFERENCES:

Lucas, D. (2021, October 30). Bank loans grew for 2 nd straight month in
September. The Philippine Daily Inquirer. Retrieved from
https://sports.inquirer.net/333504/bank-loans-grew- for-2nd-straight-month-in-
September.

Merriam’s Webster. (n.d). Credence. In Merriam-Webster Dictionary.com.

Retrieved October 30, 2021. From https://www.merriam-
webster.com/dictionary/credence

Merriam’s Webster. (n.d). Ravage. In Merriam-Webster Dictionary.com.

Retrieved October 30, 2021 from https://www.merriam-
webster.com/dictionary/ravage
Merriam’s Webster. (n.d). Traction. In Merriam-Webster Dictionary.com.
Retrieved October 30, 2021 from https://www.merriam-
webster.com/dictionary/traction