Two of the country’s major teachers’ organizations have called on the Government Service Insurance System (GSIS) to provide stronger, more compassionate, and more direct financial assistance to government workers and educators severely affected by recent disasters, particularly Typhoons Tino...
The Government Service Insurance System (GSIS) has rolled out a three-month grace period on emergency loan payments for its members and pensioners in affected areas to ease the financial burden on Filipinos recovering from the devastation of Typhoons Tino and Uwan. In a statement, the pension fund...
The South Korean Embassy in the Philippines maintained that despite the suspension of a feasibility study on a possible loan deal with the country, Manila remains to be “one of Korea 's most valued partners.” “Despite current circumstances, the Philippines remains one of Korea 's...
The Department of Foreign Affairs (DFA) said that it will clarify with the South Korean Embassy in Manila a Facebook post by South Korean President Lee Jae-myung that it is cancelling the implementation of a 700-billion won (P28.7 billion) infrastructure loan to the Philippines because of...
Philippine banks are shoring up their loan-loss buffers as the industry’s bad loan ratio climbed to an eight-month high of 3.4 percent, due to the lingering impact of the Covid-19 pandemic and global uncertainties affecting borrowers’ ability to repay debts. According to the latest data from...
President Marcos has ordered government agencies to ensure that the Turismo Asenso Loan Program is accessible to in need small tourism businesses around the country. In his speech during the awarding ceremony of tourism loan in Pasay City, Marcos directed the Department of Tourism (DOT),...
The Securities and Exchange Commission (SEC) has ordered seven online platforms to stop lending-related operations since they are not registered with the Commission. In separate cease and desist orders (CDOs) dated Aug. 15, the SEC Financing and Lending Companies Department (FinLend) directed Cash...
S&P Global reported that credit growth across emerging markets (EMs) in Asia has generally softened in the first six months of the year, except in the Philippines and Vietnam, where lending has notably picked up pace. According to debt watcher S&P Global, loans from major banks, including universal...
The Philippine banking system’s gross non-performing loan (NPL) ratio slightly eased to 3.38 percent in May, as continued double-digit growth in bank lending expanded the loan base and, along with the central bank’s cumulative 1.25-percent policy rate cut, helped reduce borrowing costs and...
A decade after the passage of Republic Act No. 10687—which established the Unified Student Financial Assistance System for Tertiary Education (UniFAST)—most of its key responsibilities remain unfulfilled. This was revealed during a recent review of the Commission on Higher Education (CHED)...
The Philippine banking system’s gross non-performing loan (NPL) ratio climbed by nine basis points (bps) to 3.39 percent in April, reversing the improvement seen in March, as loan growth slowed and more borrowers fell behind on payments, according to the central bank. The latest data from the...
State-run Government Service Insurance System (GSIS) is offering government workers a chance to escape high-interest loans through its enhanced Ginhawa Max Loan Buyout program, which directly addresses the financial struggles many public servants face. In a statement, Wick Veloso, GSIS president...
