Banks' non-performing loans (NPL) ratio still remained unchanged at 4.51 percent in August from the previous month, July, the Bangko Sentral ng Pilipinas (BSP) reported. The total bad loans reached P491.93 billion in August or 61.28 percent from P304.99 billion the same month last year. Compared to...
The Philippines balance of payments (BOP) position registered a $1.04 billion surplus in August, resulting in lower deficit in the first eight months of the year, the central bank reported. Philippines' end-August BOP deficit is reduced to $253 million Data from the Bangko Sentral ng Pilipinas...
Big banks in the country remained well-capitalized despite the prolonged pandemic-induced crisis, the Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin E. Diokno said that big banks’ capital adequacy ratio (CAR), a measure of lenders’ solvency, improved to 17.6 percent in the first...
NIGHT OWL Anna Mae Lamentillo The economist. The reformist. The professor. While these may sound like characters in a television series, I’m just referring to only one real person. These could well describe the three main hats that Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno...
More than 300 Japanese guests from Japan’s leading corporate and financial institutions have participated in the virtual Philippine Economic Briefing (PEB) that highlighted the Duterte administration’s efforts to push for a much stronger and more inclusive economy in the post-COVID-19 pandemic...
Banks are warned against what the central bank referred to as organized crime groups’ (OCG) modus operandi using auto loan products to sell carnapped vehicles to unsuspecting buyers or bank borrowers. In a memo released over the weekend, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G....
The Bangko Sentral ng Pilipinas (BSP) does not consider the popular Axie Infinity as a virtual asset service provider (VASP) and is critically monitoring how players are using and exchanging tokens or cryptocurrency assets known as Smooth Love Potion (SLP) as a form of payment and the extent of its...
Energy officials have been casting the country as a ‘mecca for green energy investments’, but one vital anchor to that is project financing, hence, major local banks are seeking policies that will guide them on the shift of financial flows to clean energy ventures. In a virtual forum convened...
The Bangko Sentral ng Pilipinas (BSP) is tightening its monetary penalty system on erring banks by imposing a maximum P1 million for each transactional violation or P100,000 per business day for continuing offense. The previous monetary penalty for banks and/or their directors and officers was...
The Bangko Sentral ng Pilipinas (BSP) will relax and further streamline its rules on foreign currency denominated transactions for banks’ effective risk controls, but are limiting the foreign currency deposit unit (FCDU) functions for certain banks such as digital and smaller banks. FCDUs are...
The Bangko Sentral ng Pilipinas (BSP) is expected to complete its review of two more local-owned banks applying for digital bank license next week, the last two slots for authorized digital banks in the country which has been limited to just seven banks. “There are two more in the pipeline. One...
The Bangko Sentral ng Pilipinas (BSP) will stop accepting digital bank license applications by next week and will close the window for three years after limiting the number of digital banks in the country to just seven. “The judgment of the Monetary Board is that we will keep it close for...
