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Bank lending expands 9.6 percent in April
Credit growth accelerated further to 9.6 percent in April from 9.4 percent in March as Philippine banks disbursed more production and consumer loans, according to the Bangko Sentral ng Pilipinas (BSP)......»»
Bank lending grew by 9.6% in April 2024 — BSP
Preliminary data released by the central bank on Friday showed that outstanding loans of universal and commercial banks, net of reverse repurchase placements with the BSP, expanded by 9.6% year-on-year in April, up from 9.4% in March......»»
Agriculture loans surge to P3.2 trillion
Loans extended by banks to the agriculture sector significantly rose to P3.2 trillion as of June 2023 from the P848 million agri-agra credit allocated in the same period in 2022, the Bangko Sentral ng Pilipinas said......»»
Banks ease exposure in real estate in 2023
The exposure of Philippine banks and trust entities to the volatile property segment eased slightly to 20.17 percent of total loans in end-December 2023 from 20.55 percent in end-September last year, data from the Bangko Sentral ng Pilipinas showed......»»
Banks to ramp up lending to agriculture sector
Banks are looking to increase lending to the agriculture sector this year amid better economic conditions, higher demand for agricultural loans and consolidation of government programs that would boost banks’ agricultural loan portfolio......»»
Digital banks post significant deposit, loan growth in 2023
The digital banking sector has recorded a significant growth in total deposits and loans in 2023 compared to a year ago, as consumers looked for more accessible and user-friendly financial services......»»
Banks’ NPL ratio eases to 3.41 percent in November
The share of soured loans to the banking sector’s total loan book slipped to 3.41 percent in November 2023 after rising to a five-month high of 3.44 percent a month earlier, according to the Bangko Sentral ng Pilipinas......»»
Vietnam s GDP to reach nearly 470 bln USD in 2024: IMF
HANOI, March 14 (Xinhua) -- Vietnam's gross domestic product (GDP) is forecast to reach about 469.7 billion U.S. dollars by the end of 2024, ranking the fifth in Southeast Asia, Vietnam News reported Thursday, citing the International Monetary Fund (IMF). Indonesia, Thailand, Singapore and the Philippines have taken the leading positions in the forecast. According to IMF, Vietnam's GDP was estimated to ha.....»»
Chinese vessels maintain presence in East China Sea near disputed Senkaku islands for record 158 days
Tokyo [Japan], May 29 (ANI): China's Coast Guard ships have been in the waters surrounding Japanese-controlled islands in the East China Sea for a record 158 days, breaking the previous record established in 2021, reported CNN citing Tokyo's most recent count. Analysts worry that the uninhabited islands, called the Diaoyu Islands in China and the Senkaku in Japan, could spark hostilities between the two Asian rivals. "The.....»»
Chinese vessels maintain presence in East China Sea near disputed Senkaku islands for record 158 days
Tokyo [Japan], May 29 (ANI): China's Coast Guard ships have been in the waters surrounding Japanese-controlled islands in the East China Sea for a record 158 days, breaking the previous record established in 2021, reported CNN citing Tokyo's most recent count. Analysts worry that the uninhabited islands, called the Diaoyu Islands in China and the Senkaku in Japan, could spark hostilities between the two Asian rivals. "The.....»»
Abby Clutario, Keiko Necesario take center stage at One Stop Record Fair
Music lovers, audiophiles and record collectors had a feast of their favorite things during the most recent edition of “One Stop Record Fair” held at the Activity Area of Ayala Malls The 30th in Pasig City......»»
NEWS BRIEFS | 7 June 2024
NPC to Balo-i residents: avoid banks of Agus River starting June 13 The National Power Corporation (NPC) has warned residents of Balo-i town in Lanao del Norte to avoid the banks of Agus River beginning on June 13 when it will start repairs of its 158.1 megawatt Agus 4 hydroelectric power plant. In a statement […].....»»
PDIC recommends depositing in banks than e-wallets for better security
The Philippine Deposit Insurance Corp. is encouraging Filipinos to recognize the personal and national value of depositing in banks for better financial security......»»
BSP may cut big banks’ RRR to 5 percent
The Bangko Sentral ng Pilipinas (BSP) is looking at a significant reduction in the level of deposits banks are required to keep with the central bank after it starts cutting interest rates this year, its top official said......»»
More banks keen on green financing – BSP
More banks in the Philippines have expressed interest to finance green and sustainable projects in the country amid the need to fund efforts that would mitigate impacts of climate change......»»
Fitch keeps credit rating of 5 Philippine banks
Fitch Ratings has affirmed the credit rating of five of the country’s biggest banks and kept its stable outlook, on the back of a likely robust economic growth over the next two years......»»
Indian banking sector continues to improve with better asset quality, high credit growth: Survey
New Delhi [India], March 21 (ANI): The health of the Indian banking sector continues to improve with better asset quality and high credit growth, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) showed. The eighteenth round of the survey was carried out for the period July to December 2023. Those banks that were surveyed together represent about 77 per cent of the banking i.....»»
Moody’s outlook: Philippine banks remain on stable footing
Moody’s Investors Service has maintained a stable outlook for Philippine banks as interest rate cuts from the Bangko Sentral ng Pilipinas this year are seen to support economic recovery......»»
Digital banks seen profitable in 5-7 years
Digital banks in the Philippines need five to seven years to become profitable, as only two out of six online lenders are doing well so far, according to the Bangko Sentral ng Pilipinas......»»
UBS sees 2-digit credit growth for Philippines banks
Banks operating in the Philippines are expected to post a double-digit credit growth this year on the back of robust economic expansion, according to banking giant UBS......»»