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BDO posts P12.3-B income in the third quarter, cautions pandemic impact not yet over

ABS-CBN News
Updated as of Oct 26 03:09 PM

BDO Unibank said on Monday it posted P12.3 billion in net income in the third quarter despite the continuing impact of the pandemic. Read more »

Bangko Sentral backs FIST bill allowing banks to offload bad loans

ABS-CBN News
Posted at Sep 02 10:51 PM

BSP said the Financial Institutions Strategic Transfer (FIST) Act “will assist the financial system perform its role efficiently, mobilizing savings and investments for the country’s economic recovery as well as its sustained growth and development.”   Read more »

Finance chief bats for approval of bill to manage banks’ bad loans

ABS-CBN News
Posted at Sep 02 03:00 PM

Congress needs to act quickly to pass a proposed law that allows banks to offload their bad loans to asset management companies, Finance Secretary Carlos Dominguez III said Wednesday. Read more »

Gov't may lose up to P13.2B in 5 years if Congress OKs FIST: National Treasurer

Katrina Domingo, ABS-CBN News
Posted at Aug 26 08:33 PM

The government is expected to lose as much as P13.2 billion in the next 5 years should Congress pass a Bangko Sentral-backed measure that would cushion banks from the possible build up of bad loans due to the COVID-19 crisis. Read more »

SONA 2020: Duterte backs bill allowing banks to dispose of bad loans

ABS-CBN News
Posted at Jul 27 11:12 PM

President Rodrigo Duterte on Monday called on lawmakers to pass a bill allowing banks to dispose of bad loans by transferring them to asset management companies.  Read more »

Profits hit as US banks set aside billions for bad loans

John Biers, Agence France-Presse
Posted at Jul 14 09:57 PM

Large US banks have set aside billions of dollars in additional reserves for bad loans, according to earnings reports Tuesday that underscored the weakening economic outlook due to the coronavirus pandemic.   Read more »

SPECIAL REPORT-China frets over debts in shadow banking system

Engen Tham, Matthew Miller and David Lague, Reuters
Posted at Dec 28 09:01 PM

For China's rulers, the fear is that there may be more bad loans in the shadows of the financial system.  Read more »