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Banks’ soured loans climb in June

LOCAL BANKS saw soured loans rise by a fourth as of end-June, reflecting the economic impact of the coronavirus pandemic, data from the central bank showed.

DBP, gov’t pension funds outline payment relief terms for loans, contributions

GOVERNMENT financial institutions allowed their borrowers to defer loan payments without penalty as a form of relief during the coronavirus disease 2019 (COVID-19) crisis. In...

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.

Rediscount rates down following BSP cut

REDISCOUNT RATES have been lowered following the latest rate cut from the Bangko Sentral ng Pilipinas (BSP) and as part of the central bank’s additional regulatory relief for financial institutions due to disruptions caused by the coronavirus disease 2019 (COVID-19) outbreak.

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).

Another year of single-digit loan growth for Philippine banks due to...

Credit risk research company S&P Global Ratings believes Philippine banks could see another year of slow loan growth as a result of the Covid-19 outbreak. While it expects trade and private investments to slow in the Philippines, dragging on banks' lending business, it also believes banks will be resilient to external pressures supported by strong fundamentals.

Banks shun BSP’s rediscount window

BANKS did not tap the rediscount window of the Bangko Sentral ng Pilipinas for the whole month of January.

Pag-IBIG Fund books higher profit

THE HOME Development Mutual Fund (Pag-IBIG Fund) booked a higher income in 2019 on the back of loan payment collections.

Rediscount loans rise in 2019

LENDERS did not tap the central bank’s rediscount facility for the second consecutive month in December, with an analyst saying banks likely have enough liquidity due to the reserve requirement reductions implemented in 2019.

Banks’ FCDU loans rise in Q3

FOREIGN CURRENCY loans disbursed by local banks inched up in the third quarter backed by borrowing firms’ higher working capital requirements paired with lower interest rates.

Bill on loan program for MSMEs filed

HOUSE SPEAKER Alan Peter S. Cayetano has filed a bill which aims to institutionalize a simplified loan program with low interest for micro, small, and medium enterprises (MSMEs) in the country.

Pag-IBIG Fund books higher income in Q1

THE HOME Development Mutual Fund (Pag-IBIG Fund) booked a higher net income in first quarter on improved loan demand and collections.

Local startup founder wins global competition for women-led ventures

When Carmina Bayombong was studying industrial engineering at the University of the Philippines, she saw dozens of fellow students struggling due to financial concerns....

Banks keep credit standards steady in Q1

MOST BANKS kept their lending criteria little changed in the first quarter, according to the results of a central bank survey.

NFA defends debt as part of food security mandate

THE National Food Authority (NFA) defended its total debt of P140.5 billion by end-2018 as the “cost of government’s commitment and policy to make rice available, affordable and accessible to the poor and marginalized sectors, and to stabilize palay and rice supply and prices at the farm and consumer levels.”

Japan pledges 3.2-B yen in loans for Mindanao projects

JAPAN has pledged additional grants for the Philippines following a joint meeting held in Osaka this week, which include funding for train simulators as well as projects for healthcare and peace efforts in Mindanao.

The legacy of a great man

The loss of banking and business magnate Dr. George S.K. Ty is being felt in all the corners of the Philippine business community. Though chiefly...

Toward a more robust and transparent consumer lending

In 2017, consumer loans in the Philippine banking system reached P1.49 trillion, up 17.3% from the P1.27 trillion worth of consumer loans recorded by...

Preparing to take out a mortgage

Buying a new car or property can be a daunting task, especially for those who have never done it before. Very few people are...

BPI Direct BanKo expects six-fold growth in outstanding loans this year

BPI Direct BanKo, Inc., the microfinance arm of Bank of the Philippine Islands (BPI), expects its loan book to grow six-fold this year supported...

RCBC posts lower net profit in first half

The Rizal Commercial Banking Corp. (RCBC) posted a P2.2-billion net income as of end-June, fueled by steady growth in its core businesses but dampened...

UnionBank sees loan portfolio growing faster in third quarter

UnionBank of the Philippines, Inc. expects the growth of its loan portfolio to accelerate further in the third quarter as issues with teachers loans...

PSBank speeds up approval of home loan applications

Philippine Savings Bank (PSBank) sets its decision on home loan applications to one day for the purchase of condominium units and properties. In a statement...

DBP loans to MSMEs reach P13 billion in first half —...

THE DEVELOPMENT Bank of the Philippines has provided P13 billion worth of loans to micro, small, and medium enterprises (MSMEs) in the first semester,...

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...

NEDA reports accelerated spending of ODA loans in 2017

SPENDING of official development assistance (ODA) loans sped up in 2017, the National Economic and Development Authority (NEDA) said. In a statement on Thursday, July...

SSS reports earning P1.31 billion from loan restructuring program

The Social Security System (SSS) earned P1.31 billion from the three months of implementation of the loan restructuring program (LRP). In a statement Wednesday, July...

Gov’t outstanding debt down in May

OUTSTANDING DEBT went down in May as the government settled domestic loans, the Bureau of the Treasury reported on Friday.

Net liability position improves in Q1

A DECLINE in liabilities, coupled with a rise in assets, caused the country’s international investment position (IIP) to improve as of March, the central bank said.

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 warns vs fake papers

THE BANGKO SENTRAL ng Pilipinas (BSP) has issued a warning against fake loan documents being peddled by scammers, saying these are not guaranteed by the central bank.

Banks told to guard vs dummy accounts

THE ANTI-MONEY Laundering Council (AMLC) has warned banks and other financial companies to tighten their watch against dummy accounts, used by drug dealers to hide illicit funds.

Rediscount rates for peso loans climb above 4%

Rates charged for rediscount loans availed by banks have risen above the four percent level starting this week, reflecting the higher benchmark interest rates...

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...

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.

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)...

LANBANK first-quarter profit rises on robust loan growth

Land Bank of the Philippines (LANDBANK) saw its net income surge by half in the first quarter, supported by strong profit growth in loans. The...

UnionBank to roll out new digital banking products

The digital banking platform of UnionBank of the Philippines is set to launch new banking products and services to position itself as a digital...

Metrobank to raise up to P20 billion from LTNCDs

Metropolitan Banking & Trust Co. (Metrobank) is planning to raise up to P20 billion by selling long-term negotiable certificates of deposit (LTNCD). In a disclosure...

DA aims to fast track funds release to assist farmers, fishermen

The Department of Agriculture (DA) is eyeing to fast track the shift from providing subsidies to easy-access financing to hasten the development in the...

BDO enters into loan agreement to finance modern jeepneys

BDO Leasing and Finance, Inc. (BDOLF) has entered into a loan agreement to finance public utility jeepneys in line with the government's jeepney modernization...

PNB aims to grow 2018 profit by 13%-14%

Philippine National Bank (PNB) intends to grow its net income by 13-14% this year as it plans to ramp up the growth of its...

FINTQ reports double-digit growth in loan disbursements

FINTQnologies Corp. (FINTQ), the financial technology (fintech) arm of PLDT Group's Voyager Innovations, Inc., booked a double-digit in the loan disbursements through its online...