Eighty-five banks have applied to exclude P18.8 billion of non-performing loans (NPL, P12.2 billion) and past due loans (PDL, P6.6 billion) from the Bangko Sentral ng Pilipinas’ (BSP) soured loans’ classification as of end-February this year. The BSP considers this a small number of banks that...
Philippine banks are expected to report a bad loans ratio of six percent this year while a return to profits pre-health crisis could come as late as 2023, according to credit watcher S&P Global Ratings. S&P Global in its latest report (Philippine Banks: Buffers Won't Hold If COVID...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the new law that will help the domestic financial system manage its bad debts during the health crisis and post-pandemic, will significantly decrease banks’ soured loans ratio and encourage deposits and investments. Diokno is...
Philippine banks are not only strong but resilient enough to withstand the pandemic-hit financial market and to help prop up an economy in recession, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “While the impact is still unfolding, the good news is that the financial...
Lucio Tan group’s Philippine National Bank (PNB) is bracing for a “peak” in bad loans ratio which could come in the first quarter of 2021 when the Bayanihan 2’s 60-day moratorium for all loans has expired. PNB president and CEO Jose Arnulfo ”Wick” Veloso said he will be unable to give...
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) reported a net income of P4 billion as of end-September, 11.3 percent lower than same time last year of P4.512 billion, as the bank allotted P7.222 billion loan loss cover. The provision for probable losses was up by 38.6 percent from...
The Ty-controlled Metropolitan Bank and Trust Co. (Metrobank) is looking at a manageable non-performing loan (NPL) ratio of three percent by end-2020 from 2.25 percent in end-September. Metrobank senior vice president Jette Gamboa said the bank’s NPL ratio is within the industry’s outlook of a...
BDO Unibank, Inc. (BDO) reported a 3.1 percent improvement in attributable net income to P12.3 billion in the third quarter of 2020 from P11.96 billion in the same period last year despite the continuing impact of the pandemic. In a disclosure to the Philippine Stock Exchange, the bank said...
