Manila, Sept. 8 -- Bank lending and domestic liquidity recorded double-digit growth in July, data from the Bangko Sentral ng Pilipinas (BSP) showed.

In a report released Tuesday, the central bank said loans from universal and commercial banks (U/KBs) grew at a faster pace of 10.4 percent in July from 9.8 percent in June.

The BSP said the faster growth reflects sustained lending to businesses and consumers.

Outstanding loans issued by U/KBs amounted to PHP14.98 trillion.

Loans for business activities accelerated to 9.8 percent from 9.2 percent in June amid increased lending to key sectors, such as electricity, gas, steam, and air-conditioning supply, wholesale and retail trade, repair of motor vehicles and motorcycles, financial and in...