The digital lending market in the country is expected to surpass $1 billion, or P58 billion, in the second half of 2025, fueled by the increasing demand for online financial technologies. Online loan platform Digido said the market is poised for rapid expansion this year driven by the growing...
The Department of Trade and Industry (DTI) should create a small loan program for micro, small and medium enterprises (MSMEs) with no interest rate, Sen. Ronald “Bato” Dela Rosa said. Dela Rosa raised this during the confirmation hearing of Department of Trade and Industry (DTI)...
Sen. Robinhood "Robin" Padilla has filed a bill that seeks to punish abusive lending and financing companies that force borrowers to settle their debts through harassment, shaming, and similar practices. Padilla filed Senate Bill 2882 after noting that RA 9474 (the Lending Company Regulation Act)...
Big banks’ outstanding loans grew by 11 percent year-on-year in September, an improvement from the 10.4 percent reported in August, according to the Bangko Sentral ng Pilipinas (BSP). Bank lending in peso terms amounted to P12.402 trillion in September, net of reverse repurchase (RRP) placements...
President Marcos has urged electricity distribution utilities to tap the Anti Bill Shock Lending Program of the Land Bank of the Philippines to ensure that electricity rates are affordable. Marcos made the directive to the Department of Energy (DOE) and the Energy Regulatory Commission (ERC)....
The Securities and Exchange Commission (SEC) has revoked the lending license of Copperstone Lending Inc. for its unfair debt collection practices and its failure to disclose the true and correct terms of loan contracts with borrowers. In a statement, the SEC said Copperstone Lending operates...
The Securities and Exchange Commission (SEC) has revoked the certificate of authority (CA) of Wealth and Personal Development Lending Inc. to operate as a lending company for its repeated failure to comply with reportorial requirements and alleged involvement in illegal activities. In a statement,...
The Bangko Sentral ng Pilipinas (BSP) reported that both domestic liquidity (M3) and bank lending grew last November and in the first 11 months of 2023. Preliminary data from the BSP showed that M3 grew by 7.0 percent year-on-year to about P16.8 trillion in November from 8.1 percent (revised) in...
Globe Telecom’s 917Ventures startup company FundSpace, a leading loan aggregator dedicated to facilitating financing for businesses of all sizes, has entered into a strategic partnership with BPC Lending Inc. In a statement, Globe said this move is set to revolutionize the accessibility of...
Senator Sherwin Gatchalian on Sunday, June 25 urged the public to be wary of finance applications that can be downloaded online on Google Play or Apple Store and other websites but are actually lending applications that victimizes oblivious customers. ...
Debtors deserve to be treated fairly and with dignity. That is the message of Senate Majority Leader Joel Villanueva when he filed a resolution which seeks to investigate the rise of unauthorized and unregistered online lending platforms in the country and victimizes hundreds of vulnerable...
An online lending company in Barangay San Miguel, Pasig City was raided by operatives of the Philippine National Police - Anti-Cybercrime Group (ACG) on Tuesday, May 16, for allegedly threatening and harassing its customers who have failed to pay their loans. The company was identified as Realm...
