March 5, 2021
Inflation hits 26-month high in February
The consumer price index rose 4.7% from a year earlier, the second straight month that the headline figure went beyond the government’s 2%-4% annual target range. — Photo by Michael Varcas, The Philippine Star Consumer prices rose faster for a fifth straight month to a 26-month high in February as food prices continued to surge, […]
March 5, 2021
Philippine banks’ NPL ratio may rise up to 5% by end-2021 – Fitch
BW FILE PHOTO The Philippine banking industry will likely see a rise in soured loans this year as many consumers struggle to settle their debts amid the crisis, Fitch Ratings said. The non-performing loan (NPL) ratio is expected to spike to 4.5-5% by end-2021 as more bad loans pile up in the first half, the […]
March 5, 2021
Philippine banks’ NPL ratio may rise up to 5% by end-2021 – Fitch
BW FILE PHOTO The Philippine banking industry will likely see a rise in soured loans this year as many consumers struggle to settle their debts amid the crisis, Fitch Ratings said. The non-performing loan (NPL) ratio is expected to spike to 4.5-5% by end-2021 as more bad loans pile up in the first half, the […]
March 5, 2021
BSP expands types of loans counted as Agri-Agra compliance
THE BANGKO SENTRAL ng Pilipinas (BSP) has expanded further the type of loans counted as compliance with the mandatory credit allocation for agriculture and agrarian reform activities. “This is an interim measure while awaiting the amendment of Republic Act (RA) 10000 (Agri-Agra Reform Credit Act of 2009) itself,” Monetary Board member V. Bruce J. Tolentino […]
March 5, 2021
Security Bank to face asset quality risks due to large retail loan portfolio
A man transacts at an automated teller machine of Security Bank Corp. in Quezon City. — BW FILE PHOTO SECURITY BANK Corp. will continue to face asset quality pressures this year mainly due to its “troubled retail portfolio,” S&P Global Ratings said on Friday. “The bank has aggressively expanded into retail banking during the past […]
March 5, 2021
PSBank’s net income drops 63% in 2020
PHILIPPINE Savings Bank booked a lower net income in 2020 as it hiked its loan loss provisions amid the pandemic. The bank’s net profit stood at P1.108 billion last year, it said in a filing with the local bourse on Friday. This was 63% lower than the P3.03 billion it booked in 2019, based on […]
March 5, 2021
Central bank sells P80 billion in short-term bills
BW FILE PHOTO THE BANGKO SENTRAL ng Pilipinas (BSP) made a full award of the one-month bills it offered on Friday even as rates climbed following data showing a quicker inflation print for February. The central bank raised P80 billion as planned from its offering of 28-day bills that were met with P106.674 billion in […]
March 5, 2021
Peso rises as RTB sale ends
BW FILE PHOTO THE PESO climbed against the greenback on Friday following the end of the government’s retail Treasury bond (RTB) offering the day prior. The local unit closed at P48.56 per dollar on Friday, gaining six centavos from its Thursday finish of P48.62. It also appreciated by three centavos from its P48.59-per-dollar close on […]
March 5, 2021
Peso rises as RTB sale ends
BW FILE PHOTO THE PESO climbed against the greenback on Friday following the end of the government’s retail Treasury bond (RTB) offering the day prior. The local unit closed at P48.56 per dollar on Friday, gaining six centavos from its Thursday finish of P48.62.It also appreciated by three centavos from its P48.59-per-dollar close on Feb. […]
March 5, 2021
Over 3,000 COVID cases logged on Friday, highest since Oct. 16
A healthcare worker of Cardinal Santos Medical Center in San Juan City, Metro Manila gets vaccinated with CoronaVac on March 5, 2021. — PHILSTAR/MICHAEL VARCAS THE health department reported on Friday 3,093 new coronavirus cases, the highest daily case rate in almost five months, and more cases of the new variants. The March 5 tally […]
March 5, 2021
Ambassadors assure more COVID vaccine supply coming by mid-year
By Kyle Aristophere T. Atienza, Reporterand Bianca Angelica D. Anago
The first batch of AstraZeneca vaccine, consisting of 487,200 doses under the COVAX facility, arrived in Manila on March 4, 2021. — PCOO THE Philippines is expected to receive the initial batch of coronavirus vaccines developed by Amerian firm Moderna Inc. by June […]
March 5, 2021
PAL, Cebu Pacific transport COVID vaccines to provinces
THE country’s two biggest air service providers, Philippine Airlines (PAL) and Cebu Air, Inc. (Cebu Pacific), have been delivering the country’s first batch of coronavirus vaccines to areas outside the capital region. In a statement on Friday, PAL said a total of 145,520 doses of CoronaVac vaccine donated by the Chinese government to Manila were […]