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BSP rate hike will not work on current inflation: analyst

ABS-CBN News
Updated as of Feb 12 05:23 AM

Joey Roxas, president of Eagle Equities, said the current spike in inflation was "cost-push" or driven by rising costs from producers. Read more »

Bank lending drops for the first time in 14 years in Dec

Reuters
Posted at Feb 03 06:56 PM

Philippine bank lending fell for the first time in more than 14 years in December, reflecting weak consumer and business activity, with the trend expected to persist as coronavirus restrictions remain in place in many parts of the country. Read more »

Binaril, sinilaban: Bangkay ng debt collector natagpuan sa Cotabato

Hernel Tocmo, ABS-CBN News
Posted at Jan 29 05:19 PM

Isang lending collector ang binaril at sinilaban pa ang bangkay kasama ng kaniyang motorsiklo sa madamong bahagi ng Barangay Lanao Kuran sa bayan ng Arakan sa Cotabato province. Read more »

BPI net income down 25.7 pct in 2020 on higher provisions for bad loans

ABS-CBN News
Posted at Jan 28 04:31 PM

Bank of the Philippine Islands said it booked a net income of P21.4 billion in 2020, representing a 25.7 percent decline from the previous year as it increased provisions for bad loans. Read more »

Get to know Investree, PH's first crowdfunding platform for small businesses

ABS-CBN News
Posted at Jan 15 12:46 PM

Investree Philippines, the country's first crowdfunding platform, is enabling peer-to-peer lending in the country to support funding needs of small and medium enterprises (SMEs).   Read more »

BSP seen cutting rates, RRR anew as economy shrinks again in 4th quarter

Warren de Guzman, ABS-CBN News
Posted at Jan 14 06:41 PM

The Bangko Sentral ng Pilipinas may cut its policy rate again or further reduce banks' required reserve ratio as the Philippine economy again shrinks in the fourth quarter, an economist said on Thursday.  Read more »

Philippines' first crowdfunding platform gets SEC approval, to support MSMEs

ABS-CBN News
Posted at Jan 08 11:55 AM

The Securities and Exchange Commission (SEC) has approved the first licensed crowdfunding platform to operate in the Philippines. Read more »

BSP to keep rates low, says inflation 'least' of worries

ABS-CBN News
Posted at Jan 05 11:53 AM

The Bangko Sentral intends to keep interest rates low for “many quarters to come” and that inflation was the “least” of its worries despite consumer prices rising at their fastest pace since March 2019.  Read more »

Landbank hits 94.5 pct of lending target to farmers, fishers as of Nov: DOF

ABS-CBN News
Posted at Jan 04 05:02 PM

The Land Bank of the Philippines has achieved 94.5 percent of its P245-billion lending target as of November last year, the Department of Finance said Monday. Read more »

New credit scoring system enables SMEs to better access loans: BSP

ABS-CBN News
Posted at Dec 10 08:24 PM

Small and medium enterprises (SMEs) will now have a better access to loans through a system that collects their data and generates their credit scoring, the central bank said on Thursday. Read more »

Fintech platform lends a helping hand to typhoon victims

WeFund Lending Corporation
Posted at Dec 07 12:00 PM

Financial technology company JuanHand, operated by WeFund Lending Corporation, stepped up as thousands of Filipinos cry for help after Typhoon Ulysses (Vamco) destroyed their homes and livelihoods. Read more »

Four ways to use a cash loan in the new normal

Moneymax.ph
Posted at Nov 23 09:49 AM

Nowadays, you can use your phone to apply for a quick cash loan and get approved in as fast as 24 hours. Read more »

Mnuchin pulls plug on some pandemic lending programs that Fed considers essential

Howard Schneider and Ann Saphir, Reuters
Posted at Nov 20 09:41 AM

U.S. Treasury Secretary Steven Mnuchin said on Thursday that key pandemic lending programs at the Federal Reserve would expire on Dec. 31, putting the outgoing Trump administration at odds with the central bank and potentially adding stress to the economy as President-elect Joe Biden organizes his administration.  Read more »

Bangko Sentral makes surprise rate cut as economic slump continues

ABS-CBN News
Updated as of Nov 19 05:40 PM

The Bangko Sentral ng Pilipinas made a surprise 25 basis points policy rate cut on Thursday, bringing the overnight reverse repurchase facility to a new historic low of 2 percent. Read more »

Dominguez bats for FIST bill this year as tight lending seen hitting businesses

ABS-CBN News
Posted at Nov 18 07:34 PM

Finance Secretary Carlos Dominguez called on lawmakers to pass a bill this year that will let banks offload bad loans as a study released Wednesday showed tight lending has been affecting businesses amid the COVID-19 crisis. Read more »

Banks keeping lending tight despite record low interest rates: BSP

ABS-CBN News
Posted at Oct 29 08:48 PM

Philippine banks remain reluctant to lend to businesses and households despite the central bank’s moves to encourage more lending to stimulate the economy, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. Read more »

Bangko Sentral eyes new credit rating model 'away from collateral' for small, medium firms

ABS-CBN News
Updated as of Oct 24 05:50 PM

The Bangko Sentral ng Pilipinas is studying a credit rating model that is not based on collateral for micro, small and medium enterprises, Governor Benjamin Diokno said Friday. Read more »

DBP says working on 'financial interventions' to aid recovery of transport sector

ABS-CBN News
Posted at Oct 16 05:10 PM

The Development Bank of the Philippines said Friday it was working with the country's transport authorities in coming up with "financial interventions" to help the industry recover from the impact of the coronavirus pandemic.   Read more »

Unsecured loans 101: What borrowers need to know

Moneymax.ph
Posted at Oct 02 08:15 PM

Need to make ends meet but don’t want to sacrifice your prized possessions? Unsecured loans can help you take care of any financial emergencies. As long as you have a good credit standing, you can easily apply for it in the Philippines.    Read more »

Bangko Sentral caps credit card interest rates at 2 percent per month

Warren de Guzman, ABS-CBN News
Posted at Sep 24 06:21 PM

The Bangko Sentral ng Pilipinas said Thursday it is capping the interest rate that banks are allowed to charge for credit cards at 24 percent per annum starting Nov. 3.  Read more »