Banks’ non-performing loan (NPL) ratio will breach six percent by the end of 2021, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. NPL ratio which is currently at 4.21 percent end-March, while still considered manageable, is expected to “settle at slightly above six...
The peso closed lower at P48.065 to the US dollar Monday, (May 24) from P47.945 last Friday. The weighted average rate depreciated to P48.019 from P47.897. Total volume amounted to $937.64 million, according to the Bankers Association of the Philippines.
The central bank is not reimposing any limit on foreign borrowings by government and private sector at this time despite a projected increase in foreign debt. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no need for the BSP to cap foreign borrowings as limits on...
The Bangko Sentral ng Pilipinas’ (BSP) securities or BSP bills were oversubscribed by 1.23x during last Friday’s auction with P135.10 billion bids versus offer of P110 billion. Both were higher compared to the previous week’s offer and tenders of P100 billion and P120.93 billion,...
Seventeen Asian countries including the Philippines have increased pre-emptive talks on how to deal with the diverging levels of COVID-related recoveries between advanced or rich economies such as the US and emerging markets. “The questions have sharpened as we now see clearer, but...
The Bangko Sentral ng Pilipinas’ (BSP) ambitious financial education (fin-ed) initiative is estimated to reach almost 60 million Filipino adults and students to be financially healthy and resilient especially in times of financial shocks such as during a public health crisis, according to BSP...
The central bank’s Monetary Board as of May 7 has reviewed and approved $15.5 billion worth of foreign borrowings for the government’s anti-pandemic projects and programs. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno reiterated on Thursday that despite the increasing debt...
The Bangko Sentral ng Pilipinas’ (BSP) auction of term deposit facility (TDF) received more bids this week especially for the 14-day tenor, while yields were mixed. The 14-day TDF, offered lower at P360 billion from P370 billion last May 12, attracted P408.12 billion tenders. This was higher...
The peso closed lower at P47.875 to the US dollar yesterday from P47.805 the previous day. The weighted average rate appreciated to P47.83  from P47.861. Total volume amounted to $947.25 million, according to the Bankers Association of the Philippines.
The country’s external debt service burden went up by 24.64 percent to $2.686 billion as of end-February from same time last year of $2.155 billion, according to Bangko Sentral ng Pilipinas (BSP) data. Principal payments increased by 37.46 percent to $2.227 billion from $1.620 billion. Interest...
The Bangko Sentral ng Pilipinas (BSP) approved four new banking offices in the last quarter of 2020 compared to 67 new branch applications in the same period in pre-pandemic 2019. Based on a BSP circular letter, there was only one approved regular branch and three branch-lite units (BLUs) in the...
Cash remittances or fund transfers sent via the banking system reached $7.593 billion as of end-March, up by 2.6 percent year-on-year or from $7.403 billion, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. “This is the second consecutive month that remittances were higher than last...
