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...
The Duterte administration’s debt payments went up by more than half in the first three-months of the year owing to higher amortization, data from the Bureau of the Treasury revealed over the weekend. Based on the Treasury report, the total debt service of the national government reached P521.5...
The financial system’s total resources increased to P24.08 trillion as of end-March, up by 5.46 percent from same period last year of P22.84 trillion, based on Bangko Sentral ng Pilipinas (BSP) data. Of the total figure, banks have P20.03 trillion of total resources, up by 6.64 percent...
The Bangko Sentral ng Pilipinas (BSP) has drafted additional rules to ensure banks continue to so-called “greening” by integrating climate change and environmental and social (E&S) risks in its key strategies and operations. The proposed guidelines seek to ensure the integration of...
Philippines’ gross international reserves (GIR) reached $107.25 billion as of end-April, up by $2.77 billion from the previous GIR of $104.48 billion, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. Considered as healthy liquidity reserves or buffer against external...
With CREATE, FIST laws The Bangko Sentral ng Pilipinas (BSP) expects the economy to post positive growth in the second quarter due to base effects, but whether or not this will be sustained for the rest of the year will depend on the implementation of recently approved laws, such as the...
An estimated P6.93 billion of micro, small and medium enterprise (MSME) loans under the Credit Surety Fund (CSF) have been released as of end-December 2020, according to a central bank CSF survey. BSP Governor Benjamin E. Diokno (Credit: BSP photo) Bangko Sentral ng Pilipinas (BSP) Governor...
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) decided on Wednesday (May 12) to maintain its two percent interest rates on the overnight deposit and lending facilities while revising inflation outlook lower as food price pressures have eased. BSP Governor Benjamin E. Diokno, also the...
The banking sector’s assets continue to increase at P19.439 trillion as of end-first quarter, up by 5.62 percent from same period last year of P18.404 trillion, based on Bangko Sentral ng Pilipinas (BSP) data. Banks’ gross total loan portfolio fell by 1.9 percent year-on-year to P10.658...
The peso closed higher at P47.81 to the US dollar Tuesday, (May 11) from P47.865 the previous day.  The weighted average rate depreciated to P47.87 from P47.825. Total volume amounted to $837 million, according to the Bankers Association of the Philippines.
Banks continue to report an increasing gross non-performing loans (NPL) ratio of 4.21 percent and past due ratio of 5.34 percent in March in an expected trend resulting from borrowers’ difficulty in paying their loans amid the public health crisis. The last time gross NPL was at this level was in...
