The Philippine banking system’s total assets climbed to ₱30.12 trillion as of end-April, driven by sustained growth in lending and strong liquidity, with investment holdings continuing to support the economy. The latest preliminary Bangko Sentral ng Pilipinas (BSP) data showed banks’ combined...
Philippine banks’ bad loan ratio deteriorated to 3.37 percent as of end-April 2026, marking an eight-month high, likely due to the delayed impact of elevated borrowing rates on borrowers. The latest Bangko Sentral ng Pilipinas (BSP) data showed that the banking industry’s gross non-performing...
The central bank and insurance regulators are pushing for the bundling of parametric insurance with traditional credit lines, aiming to unlock vital financing for sectors most exposed to worsening climate risks. By tying automated weather-indexed payouts directly to bank loans, regulators hope to...
Global debt watcher Fitch Ratings expects Philippine banks to face increasing costs as they write off unpaid debts and prepare for future losses while navigating an increasingly uncertain geopolitical and economic environment caused by the Middle East war. This outlook comes even as the Bangko...
FinVolution Group, an SME-focused financial technology (fintech) firm that entered the local card-based lending market through Luvit Card, is aiming for profitability by 2029, a deferred timeline as the company ramps up spending on consumer awareness and research and development. Luvit Card, a...
Philippine banks expect loan demand from Filipino entrepreneurs and households to remain steady in the second quarter of the year, according to the central bank, which said banks face a balancing act on lending rules amid the domestic spillover of the Middle East war. Results of the latest...
DAVAO CITY – A Davao City councilor is pushing a proposal to expand financial support for cooperatives here by creating barangay-level cooperative committees and increasing loanable amounts under existing city programs. Councilor Al Ryan Alejandre, chairman of the Committee on Cooperative...
The local banking system faces a more severe threat from escalating Middle East tensions than in previous economic shocks, as a pivot toward lending to small businesses and consumers creates new pockets of vulnerability, according to Fitch Ratings. Jonathan Cornish, Fitch Ratings managing director...
GO2Meds, a Philippine pharmaceutical retailer, entered into a partnership with Global SME Loans Inc. to provide financing and operational support for the expansion of community pharmacies across the archipelago. The collaboration aims to address the rising demand for affordable maintenance...
Senator Francis “Chiz” Escudero is seeking urgent legislative action to support micro, small, and medium enterprises (MSMEs), which employ about two‑thirds of the national workforce and is widely regarded as the backbone of the country’s economy. Escudero said that based on the latest...
While welcoming the Department of Education’s (DepEd) efforts to explore more flexible loan arrangements for public school teachers, the Alliance of Concerned Teachers (ACT) Philippines on Thursday, February 5, warned that extending loan terms will only worsen educators’ growing debt burden if...
BACOLOD CITY – The City Legal Office (CLO) is investigating an alleged mass falsification scheme involving 32 employees of the General Services Office (GSO) at the Bacolod City Government Center (BCGC). The suspects—composed of utility workers, clerks, and drivers—allegedly tampered their...
