Consumer prices last month rose near the lower end of a government forecast owing to slower increase in food prices, the National Economic and Development Authority (NEDA) reported on Friday, Nov. 5. Data from the Philippine Statistics Authorty showed that prices increased 4.6 percent in October,...
Metropolitan Bank & Trust Co. (Metrobank) reported that its net income grew by 46 percent to P16.1 billion in the first nine months of 2021. In a statement, Metrobank said that earnings surged 131 percent to P4.4 billion in the third quarter of 2021, with proactive NPL management resulting in...
The Bangko Sentral ng Pilipinas (BSP) has directed all banks and their subsidiaries to submit quarterly reports of their remaining London Inter-Bank Offered Rate or LIBOR-related exposures until end-2023. BSP Deputy Governor Chuchi G. Fonacier, who signed the memo (Memorandum No. M-2021-058) on...
Foreign portfolio investments in September reversed to a net outflow of $24 million versus the previous month’s net inflow of $12 million, the Bangko Sentral ng Pilipinas (BSP) said on Thursday, Oct. 28. 42027 The $24 million net outflows are lower than the $494 million net outflows registered in...
Benchmark interest rates moved sideways on Monday, Oct. 18, as yields for the three-month and one-year IOUs resumed their increase, while the six-month paper marginally dropped. The 91-day Treasury bill rate, which banks use in pricing their loans, went up to 1.113 percent from 1.095 percent a week...
The country’s external debt service burden rose by 21.6 percent to $5.93 billion as of end-July from $4.88 billion in the same time in 2020, based on Bangko Sentral ng Pilipinas (BSP) data. External debt principal payments increased by 37.39 percent year-on-year to $4.47 billion from $3.25...
The Bangko Sentral ng Pilipinas (BSP) is not inclined to increase the amount it lends to the national government on the back of the improving coronavirus situation in the country. BSP Governor Benjamin E. Diokno said Thursday, Oct. 14, that he does not see a need to raise the direct cash advance...
With the prolonged pandemic, the country's net external liability position increased 3.5 percent to P676.6 billion in the first quarter from same period last year of P653.8 billion due to higher net foreign liabilities by the general government and non-financial corporations (NFCs), a report from...
Banks' non-performing loans (NPL) ratio still remained unchanged at 4.51 percent in August from the previous month, July, the Bangko Sentral ng Pilipinas (BSP) reported. The total bad loans reached P491.93 billion in August or 61.28 percent from P304.99 billion the same month last year. Compared to...
The Bangko Sentral ng Pilipinas (BSP) advises the public that the 20-Piso New Generation Currency (NGC) banknotes remain as legal tender and can be used alongside the 20-Piso NGC coins for day-to-day transactions. Screen Shot 2021-09-27 at 9.52.28 PM BSP Gov. Benjamin Diokno also tweeted "The...
The Philippines balance of payments (BOP) position registered a $1.04 billion surplus in August, resulting in lower deficit in the first eight months of the year, the central bank reported. Philippines' end-August BOP deficit is reduced to $253 million Data from the Bangko Sentral ng Pilipinas...
Big banks in the country remained well-capitalized despite the prolonged pandemic-induced crisis, the Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin E. Diokno said that big banks’ capital adequacy ratio (CAR), a measure of lenders’ solvency, improved to 17.6 percent in the first...
