The Government Service Insurance System (GSIS) said it has released over P200 billion in net loan proceeds to over a million members and pensioners. (Pixabay) Through its various loan products, GSIS President and General Manager Rolando Ledesma Macasaid said the state-run insurance fund "has...
In a bid to entice more borrowers from the agriculture sector, Bank of the Philippines (BPI) has opened a loan program to small and medium enterprises (SME) with no collateral and fewer documentary requirements. BPI Business Banking Head Eric Luchangco said in a statement that the Ayala-led bank is...
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 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...
State-run Philippine Guarantee Corp. (PhilGuarantee) sustained the growth of its guarantee program for viable but pandemic-hit micro, small and medium enterprises (MSMEs) for the third straight month since its launch in December last year. The total loans guaranteed by PhilGuarantee reached P1.47...
The central bank’s Monetary Board has approved $2.84 billion worth of public sector foreign borrowings in the first three months of 2021, up by 19.36 percent from same time last year of $2.38 billion. In a statement Monday, (May 3) the Bangko Sentral ng Pilipinas (BSP) said a large portion of the...
The Duterte administration has already secured $18.4 billion worth of foreign loans, equivalent to about P886.1 billion, to support the country’s coronavirus response, the Department of Finance (DOF) said. Of that total amount, Finance...
The Development Bank of the Philippines (DBP) granted a P195-million term loan to a San Juan City-based educational institution to fund a six-story building for its permanent offices and school. The bank’s assistance to the Community of Learners Foundation, Inc. (COLF) was made under the bank’s...
An organization of education workers urged the Government Service Insurance System (GSIS) to cancel the “questionable and unjust” accrued interests on loans for the months of enhanced community quarantine (ECQ) in 2020. (ACT/FB) The Alliance of Concerned Teachers (ACT), in a statement issued...
The Development Bank of the Philippines (DBP) granted a P1.275-billion loan to Allied Care Experts (ACE) Medical Group to improve their hospitals in Northeast and Central Luzon. ACE will spend P655-million to build a 101-bed five-storey Level 2 hospital building and acquire various medical...
Loans and advances released by the central bank to its supervised financial institutions amounted to P130.9 billion by end-fourth quarter 2020, down by 34.61 percent year-on-year or from P200.2 billion. The Bangko Sentral ng Pilipinas (BSP), which extends loans and advances to banks with liquidity...
The Development Bank of the Philippines (DBP) signed a P760-million term loan agreement with Allied Care Experts (ACE) Medical Center - Pangasinan, Inc. to boost the hospital chain's capacity. ACE Medical Center, a nationwide network of hospitals, will use the loan to construct a seven-storey...
