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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]