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Big banks report slower growth in Q1

THE country’s biggest banks reported lower profits, reduced capacity to absorb risky assets, and slower asset growth in the first three months of the year.

PHL banks to see credit losses due to coronavirus pandemic

PHILIPPINE BANKS may see loan losses of up to P100 billion in 2020 due to the financial impact of the coronavirus disease 2019 (COVID-19), according to S&P Global Ratings.

Banks’ profits, NPLs face hit from COVID-19 outbreak

BANKS’ profitability is likely to plunge due to the adverse impact of the coronavirus disease 2019 (COVID-19), which could also cause an increase in nonperforming loans (NPL), according to Global Data.

Banks ready to provide services, cash during ‘enhanced’ lockdown

BANKS WILL CONTINUE to provide basic financial services amid the enhanced community quarantine in the whole of Luzon, a central bank official said, while assuring a bank run is unlikely even as people look to hold cash during the lockdown period.

Banks see lower loans, more bad debt on virus

BANKS HAVE NOW activated their business continuity plans (BCP) and are allowing flexible work arrangements as they brace for the impact of the coronavirus disease 2019 (COVID-19).

Big US banks halt stock buybacks for clients’ needs

NEW YORK — The United States’ biggest banks will stop buying back their own shares, and will instead use that capital to lend to individuals and businesses affected by the coronavirus, an industry trade group said on Sunday.

Bill enhancing Agri-Agra Law filed

A LEGISLATOR has filed a bill seeking to ensure greater access to credit in rural communities.

PHL banks to weather lower rates, trade war

PHILIPPINE BANKS will fare well despite the falling interest rate environment, which has been the trend in most Asian countries, according to Moody’s Investors Service.

Banks maintain credit standards in third quarter

MOST BANKS kept their overall lending standards untouched for both enterprises and households, a central bank survey found.

Banks need to digitize, tap fintech firms

THE BANKING INDUSTRY needs to go digital for survival and may seek the specialty offered by financial technology (fintech) firms for more efficient service delivery, according to bank and fintech executives on Thursday.

CIC’s credit reports now available for P10 each

FINANCIAL INSTITUTIONS can now avail credit reports from the Credit Information Corporation (CIC) for an introductory fee of P10 until March 2020.

Bill seeks regulation of ATM transaction fees

THE Bayan Muna Party-list has refiled a bill regulating fees and charges on transactions done via automated teller machines (ATM).

BSP to require banks to report glitches within two hours

BANKS and other financial firms will soon be required to report cyber attacks and similar technology-related glitches within two hours, following the approval of new rules by the central bank.

BSP simplifies rules for banks’ bond floats

THE CENTRAL BANK has simplified rules for lenders issuing bonds to raise additional capital, its chief said, which is expected to replace long-term note offerings.

Central bank eyes ‘national QR code’ for retail payments

THE BANGKO SENTRAL ng Pilipinas (BSP) will require financial firms to use a standard design for quick response (QR) codes to allow simpler transactions across service providers.

How many Filipinos own a bank account?

Majority of adult Filipinos still did not have bank accounts due to lack of funds to meet required minimum balances, a 2017 study of...

Security Bank sees loan growth easing this year

Security Bank Corp. expects its total loan growth to slow down on the back of high base effects, its president said on Wednesday, July...

Banks’ lending standards unchanged in second quarter — BSP poll

Philippine banks kept their lending criteria largely steady in the second quarter of the year, although some lenders said they grew stricter in granting...

BSP check shows most Filipinos unbanked

MAJORITY of Filipinos still did not have bank accounts as of 2017 due to lack of funds to meet required minimum balances, a study of the Bangko Sentral ng Pilipinas (BSP) showed.

Financial inclusion, digitalization to create more jobs in banking sector: BAP

The Bankers Association of the Philippines (BAP) expects the banking sector to provide more jobs amid financial inclusion push and digital transformation. In a statement...

TransUnion says record-low delinquency rates driving consumer lending growth

TransUnion Philippines expects sustained lending growth given record-low delinquency rates and despite rising interest rates, with the credit scorer eyeing to capture small businesses...

Moody’s sees little risk of problem loans despite rising rates

THERE SHOULD BE little risk of problem loans even as interest rates rise further, a global credit rater said, noting that policy adjustments can be expected to temper credit growth.

BSP relaxes rule on rediscount loans

Banks will soon have more leeway in acquiring short-term funding from the Bangko Sentral ng Pilipinas (BSP) as the regulator is accepting syndicated loans...

Which regions have the most banks?

By Mark T. Amoguis, Research By the end of 2016, the Philippines had 11,129 bank offices, comprising of 602 head offices and 10,527 other offices. At that...

Moody’s assigns CRRs to PHL banks

MOODY’S INVESTORS Service has assigned counterparty risk ratings (CRR) to 10 Philippine banks, assessing the lenders’ capability to carry out their contractual obligations.

Cybersecurity plan set for TradeNet

THE DEPARTMENT of Finance (DoF) said it will integrate cybersecurity features in the country’s new trade facilitation platform.

BPI looks to ramp up digitalization efforts

BANK OF THE Philippine Islands (BPI) is ramping up efforts to digitize its processes and services to support rapid growth and promote financial inclusion.

Half of the world’s ‘too big to fail’ banks are in...

If a bear market is considered failing in equities, then half of the “too big to fail” financial institutions across the globe aren’t succeeding. There...

Treasury bills on offer partially awarded

THE GOVERNMENT partially awarded the Treasury bills (T-bill) it offered on Monday to temper the rise in rates as yields bid by banks climbed across all tenors amid slower-than-expected inflation.

Rediscount borrowings climb to P1.266 billion

BANKS SECURED bigger loans under the central bank’s peso rediscount window in May to fund more commercial lending and asset purchases at a time of higher borrowing costs.

Big banks’ NPLs inch up in April as lending surges

SOURED DEBTS held by big banks stayed relatively modest in April even as lending surged by almost a fifth, latest central bank data showed.

Local banks well-positioned to meet new liquidity requirement

BIG BANKS are well-positioned to meet new liquidity rules from the central bank, but will have to boost deposit taking and long-term loans to beef up funding, Moody’s Investors Service said.

BSP sticks to June 30 deadline for banks’ EMV shift

THE CENTRAL BANK will stick to its June 30 deadline for all banks to shift to microchip-based cards and terminals to elevate security standards.

PSBank looks to use proceeds of planned LTNCD sale to expand...

PHILIPPINE SAVINGS Bank (PSBank) said it will raise funds through long-term negotiable certificates of time deposit (LTNCD) to expand its consumer banking segment.

BSP prepares big banks for stiffer liquidity rules

THE Bangko Sentral ng Pilipinas (BSP) will closely monitor liquidity buffers held by big banks starting July, ahead of adopting tighter rules which ensure that lenders can stay afloat for at least a year.

Thrift bank sector assets grow in Q1 with credit expansion

THE THRIFT banking industry posted growth in the first quarter on the back of credit expansion among lenders.

The customer-centric story of disruption

By Mark Louis F. Ferrolino, Special Features Writer In a trajectory of rapid improvements, buoyed by disruptive technologies, consumers are becoming more demanding and discriminating. Emerging...

BSP readies regular poll on bankers’ outlooks

THE BANGKO SENTRAL ng Pilipinas (BSP) will conduct a regular poll to get bank executives’ outlook on economic growth and business prospects.

Senate OK’s on third and final reading bill that improves MSMEs...

The Senate on Monday, May 28, passed on third and final reading a bill improving the access of micro, small, and medium enterprises (MSMEs)...

BSP further trims banks’ reserve requirement

The central bank announced another 1% cut in bank reserves on Thursday, May 24, marking the second adjustment this year as the regulator aims...

PBCom to raise up to P5 billion from LTNCDs

Philippine Bank of Communications (PBCom) is set to raise up to P5 billion by selling peso-denominated long-term negotiable certificates of time deposit (LTNCD). In a...

Humans fight back against robots mining personal finance data

REGULATORS are beginning to teach robots who’s the boss. After spending billions of dollars on cutting-edge artificial intelligence technologies, Europe’s banks and insurers face tougher...

S&P upgrades Security Bank to investment grade, affirms rating for DBP

S&P Global Ratings bumped up its credit ratings on Security Bank Corp., while affirming its ratings on Development Bank of the Philippines (DBP) following...

Philippine banking sector’s credit risk score improves

S&P Global Ratings has upgraded its risk assessment on the Philippine banking industry supported by the sector's improved credit fundamentals. The global credit rater said...

S&P maintains bullish outlook for Philippine banks

The Philippine banking system is likely to benefit from a brighter outlook for the economy, S&P Global Ratings said, with stronger domestic activity to...