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BPI books highest quarterly income since start of pandemic

ABS-CBN News
Posted at Jul 22 04:54 PM

Bank of the Philippine Islands on Thursday said it posted a net income of P6.8 billion in the second quarter, which was the bank’s highest quarterly income since the start of the pandemic. Read more »

Banks still 'upbeat' but expect bad loans to remain high: BSP

ABS-CBN News
Posted at Jul 21 07:02 PM

The Bangko Sentral ng Pilipinas said Wednesday the banking industry remains optimistic despite forecasting the bad loan ratio remaining high in the short term. Read more »

China's bank regulator warns of rising bad loans due to uneven recovery

Reuters
Posted at Jul 14 08:25 PM

Chinese banks are facing the threat of rising bad loans in the future as the current economic recovery is unbalanced and lacks a solid foundation, the country's top banking and insurance watchdog said on Wednesday. Read more »

Bank lending falls 4.5 percent in March

ABS-CBN News
Posted at May 10 06:29 PM

Bank lending fell in March as a surge in COVID-19 cases dampened economic outlook, the Bangko Sentral ng Pilipinas said on Monday. Read more »

SEC releases draft rules of FIST law

ABS-CBN News
Updated as of Feb 19 05:41 PM

The Securities and Exchange Commission (SEC) has released Friday the draft implementing rules and regulations (IRR) of the newly passed law that will help banks and financial institutions managed risk from piling bad loans amid the COVID-19 crisis. Read more »

No write-off, no condonation: DBP officials belie claims Lopez firms have unpaid debt

ABS-CBN News
Posted at Feb 17 08:57 PM

Companies under the Lopez Group and its former unit Maynilad Water Services have no unpaid loans with the state-run DBP, bank officials said Wednesday. Read more »

UnionBank income down on higher provisions for bad loans

ABS-CBN News
Posted at Feb 01 04:26 PM

Union Bank of the Philippines saw its net income drop to P11.6 billion last year versus P14 billion in 2019 on the back of higher "credit costs" or provisions for bad loans. Read more »

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 »