Manila, Sept. 5 -- Bank lending grew at a slightly slower pace in July while domestic liquidity growth accelerated, the Bangko Sentral ng Pilipinas (BSP) said.

Data released on Friday showed that outstanding loans of universal and commercial banks (U/KBs) grew by 11.8 percent from 12.1 percent in June.

Outstanding loans issued by U/KBs during the month amounted to PHP13.57 trillion.

Outstanding loans to residents increased by 12.4 percent in July from 12.6 percent in June.

Loans to non-residents, on the other hand, decreased by 8.1 percent in July from a 6.4-percent decline in the previous month.

Loans meant to fund business activities expanded at a slower pace of 10.8 percent in July from 11.1 percent in June.

Lending for key indus...