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Banks stuck at grim trend of shrinking loans, rising unpaid debts

Bank lending is down for a fourth straight month, while bad loans rose to their highest since August 2009......»»

Category: financeSource: philstar philstarMay 10th, 2021

BDO, UnionBank profits rebound in Q3 from pandemic buffer boost

Two of the country’s largest banks grew their profits in the third quarter, although succeeding growth remained at risk from rising amount of unpaid loans from virus-battered borrowers......»»

Category: newsSource:  philstarRelated NewsOct 26th, 2020

Banks at risk from sluggish credit, bad loans – S& P

Philippine banks are facing sluggish revival in credit growth, rising non-performing loans, a marginal decline in credit costs, and mild recovery in earnings this year due to subdued economic activity and high COVID-19 infection rates, according to S&P Global Ratings......»»

Category: financeSource:  philstarRelated NewsJul 3rd, 2021

Banks see their bad debts a little above 5% of loans in 2021

That means soured loans are yet to reach a peak even as they begin to accumulate this year......»»

Category: financeSource:  philstarRelated NewsApr 23rd, 2021

Unpaid consumer loans hit near 10-year peak in September

That amount accounted for 8.51% of the P1.97 trillion consumer debts in the third quarter, bigger than the 5.55% ratio posted in June. It was also the highest level since the ratio hit 8.7% in December 2010......»»

Category: financeSource:  philstarRelated NewsFeb 2nd, 2021

Hardly rising, big banks loans set to follow smaller lenders in the red

A slight acceleration is welcome news to the central bank and the Duterte government relying on banks to extend credit, but the improvement was likely a blip......»»

Category: financeSource:  philstarRelated NewsJan 11th, 2021

Banks, swamped with unpaid loans, are not lending

Banks continued to hold back from lending as loans in their books start to turn sour with the unwinding of regulatory relief extended to customers battered by the pandemic. .....»»

Category: financeSource:  philstarRelated NewsNov 11th, 2020

Biden knocks Trump as rivals barnstorm heartland in election finale

Joe Biden intensified his attacks Friday on President Donald Trump as they battled over the American Midwest, chasing every last vote with four days to go in a region that propelled the Republican to victory in 2016. RUS President Donald Trump speaks during a campaign rally at Rochester International Airport October 30, 2020 in Rochester, Minnesota. With Election Day only four days away, Trump is campaigning in Minnesota despite the recent surge in coronavirus cases in the state. In accordance with state orders, only 250 people will be able to attend the rally with Trump while thousands of others will gather outside the airport to watch on a large television screen. (Chip Somodevilla/Getty Images/AFP) Trump and Biden barnstormed three heartland states each — with a resurgent coronavirus passing the milestone of nine million cases as they hit the stump — highlighting their differences in a race overshadowed by the pandemic. Trump, heralded a “big day” of campaigning as he left the White House, then held a rally in Michigan before heading to Wisconsin and Minnesota, all states battling climbing numbers of virus cases. “We just want normal,” Trump told supporters — many of them unmasked — at an outdoor rally near Detroit as he pushed states to relax public health restrictions and resume daily life. He again bucked his own administration’s health experts as he downplayed the Covid-19 threat, saying “if you get it, you’re going to get better, and then you’re going to be immune.” Covid-19 has killed nearly 230,000 people in the US, which is experiencing surges in most states as the winter flu season looms. The outbreak has ravaged the economy, and while there have been signs of recovery, millions remain jobless. Biden was also stumping in Wisconsin and in Minnesota, where he sharpened his attacks on the president on everything from Trump seeking to dismantle Obama-era health care protections and keep his taxes secret to climate change and trade policy with China. “We can not afford four more years of Donald Trump,” the 77-year-old Democrat said at a socially distanced drive-in rally in St. Paul, Minnesota. “So honk your horn if you want America to lead again!” he said, embracing the awkward pandemic-era campaign trend of rallying supporters in their vehicles. “Honk your horn if you want to have civility again, and honk your horn if you want America to be united again!” Earlier in Iowa he attacker Trump over his handling of the pandemic. “Donald Trump has given up (and) waved the white flag,” Biden told a drive-in rally with more than 300 cars in Des Moines. – ‘Less divided’ – Trump flipped Iowa, Michigan and Wisconsin from the Democrats to clinch his shock victory four years ago.  Now polls show Biden leading in all three, albeit narrowly in Iowa. It was Biden’s first visit to Iowa since his inauspicious campaign start in February, when he placed a dismal fourth in the opening Democratic nominating contest. So can Biden win over enough voters to prevail in the Hawkeye State? “I wouldn’t put money on it,” Iowa attorney Sara Riley, 61, said at Biden’s event, although she was more confident about him clinching the White House. “I think Americans, even Trump supporters, want to get to a place where the country is less divided,” Riley said. With voters concerned about the health hazards of crowded polling stations on November 3, a record 86 million have already cast early ballots by mail or in person. Even as the US hit a grim new high in daily Covid-19 infections Thursday, Trump has stuck to his guns, downplaying the dangers and branding Democrats as rampaging “socialists” intent on shuttering the country. And while Trump has touted the economic successes of his presidency, including positive GDP figures Thursday, US stocks closed out their worst week since March, highlighting concerns about a shaky recovery. – ‘Turn Texas blue?’ – After a campaign largely muted by the pandemic, Biden is on the offensive, pushing Trump onto the back foot in unexpected battlegrounds like Texas, a large, traditionally conservative bastion now rated a toss-up by multiple analysts. On Friday the state reported that a staggering nine million residents had already voted, surpassing its entire 2016 total. Biden’s running mate Kamala Harris visited Texas Friday in a bid to turn the state Democratic for the first time since president Jimmy Carter in 1976. “We have a chance to turn Texas blue,” the 96-year-old Carter said in a fundraising email. Biden winning there would be a dagger to Trump, but the president dismissed the notion, saying: “Texas, we’re doing very well.” Trump and Biden are focusing their greatest efforts on traditional battlegrounds that will decide the election — such as Florida, where both campaigned on Thursday. On Saturday Biden returns to the Midwest bringing with him perhaps his strongest surrogate: ex-president Barack Obama, making his first joint in-person campaign appearance of the year with his former VP. Motown music legend Stevie Wonder will join them, the Biden campaign said. Trump will spend the day campaigning in the critical state of Pennsylvania, where he narrowly trails Biden in polls. Biden will follow suit there both Sunday and Monday in a clear sign that his campaign sees the Keystone State as absolutely crucial to his victory......»»

Category: newsSource:  inquirerRelated NewsOct 31st, 2020

Bank lending slowest in over a decade — BSP

Credit growth eased for the fourth straight month to its slowest pace in more than a decade at 6.7 percent in July from 9.6 percent in June, as banks remain wary of rising non-performing loans amid the economic fallout brought about by the COVID-19 pandemic, the Bangko Sentral ng Pilipinas said......»»

Category: financeSource:  philstarRelated NewsSep 5th, 2020

Rising PH debt still manageable economist

DAVAO CITY, June 30 (PIA) - With people alarmed over increasing debts from loans taken by the government to address budgetary shortfalls and fund social protection programs during the pandemic, an.....»»

Category: newsSource:  manilanewsRelated NewsJul 1st, 2020

Banks lend P189 billion to MSMEs as compliance to reserve requirement

Loans extended by banks to micro, small and medium enterprises used as compliance with the central bank’s reserve requirement ratio amounted to P188.7 billion as of July, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsAug 21st, 2021

BSP rediscounting loans drop to P5.5 billion

Loans released by the Bangko Sentral ng Pilipinas to banks via its peso rediscounting loan facility plunged to P5.52 billion from January to July compared to P20.7 billion in the same period last year......»»

Category: financeSource:  philstarRelated NewsAug 10th, 2021

Banks’ bad loans may rise until H1 next year

Banks’ bad loans are expected to pick up until the first half of next year as the country continues to struggle to contain the pandemic......»»

Category: financeSource:  philstarRelated NewsAug 4th, 2021

BDO profits surge in H1 as bank pares down loan loss buffers

BDO Unibank Inc. saw its profits surge nearly five times in the first half, as the Sy-led lender starts trimming rainy-day funds it set aside earlier to shield its balance sheet from a wave of unpaid loans from pandemic-hit borrowers......»»

Category: financeSource:  philstarRelated NewsAug 2nd, 2021

BSP extends zero spread on rediscounting loans

The Bangko Sentral ng Pilipinas has extended the zero spread on its peso rediscount loans until the end of the year to allow banks to tap the facility to meet their temporary liquidity needs amid the pandemic......»»

Category: newsSource:  philstarRelated NewsAug 1st, 2021

Bank lending to MSMEs climbs to P184 billion in June

Loans extended by banks to micro, small, and medium enterprises, which are used as compliance to the reserve requirement ratio, reached P183.9 billion as of mid-June, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsJul 31st, 2021

Big banks see sustained rise in bad loans

Universal and commercial banks expect bad loans to increase in the next two years as consumer loans remain vulnerable and prone to weakening due to the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsJul 22nd, 2021

Banks’ bad loans ratio swells to 13-year high

Banks’ bad loans climbed for the fifth straight month in May to hit the highest level in almost 13 years as the country continues to struggle amid the resurgence of COVID-19 cases......»»

Category: financeSource:  philstarRelated NewsJul 8th, 2021

RCBC to trim portfolio of bad housing loans

Rizal Commercial Banking Corp. plans to trim its non-performing housing loans to a range of six to seven percent this year after hitting double-digit levels last year due to the impact of the COVID-19 pandemic on the capacity of borrowers to pay their debts......»»

Category: financeSource:  philstarRelated NewsJul 8th, 2021

Listen to and engage the private sector

The Philippine Statistics Authority recorded five consecutive quarters of negative growth shrinking at a rate of -4.2% last March. Unemployment is evidently high, and prices of food and goods keep rising. Unlike the government, which is primarily funded by our taxes, the private sector has to do the heavy lifting on the ground to survive and to remain viable. A developmental mindset is key......»»

Category: newsSource:  thestandardRelated NewsJul 5th, 2021

Bank lending tightens for 6th straight month

Loans released by big banks contracted for the sixth straight month, although at a slower pace of four percent in May from five percent in April, as demand remained subdued due to the resurgence of COVID-19 cases, according to the Bangko Sentral ng Pilipinas.....»»

Category: financeSource:  philstarRelated NewsJul 1st, 2021