'Oxygen to keep patient alive': Banker calls for sustained lending to small firms | ABS-CBN
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'Oxygen to keep patient alive': Banker calls for sustained lending to small firms
'Oxygen to keep patient alive': Banker calls for sustained lending to small firms
ABS-CBN News
Published Jan 28, 2021 12:28 PM PHT
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MANILA - A Philippine banker is calling on his colleagues in the banking sector to sustain lending to the micro, small and medium enterprises (MSMEs) amid challenges brought by COVID-19, likening it to an oxygen support system for a patient.
MANILA - A Philippine banker is calling on his colleagues in the banking sector to sustain lending to the micro, small and medium enterprises (MSMEs) amid challenges brought by COVID-19, likening it to an oxygen support system for a patient.
Rolando Avante, president and CEO of Philippine Business Bank, said in an interview with ANC on Thursday that there "can be a further worsening of the banking books" due to MSME lending, but noted banks will take on more provisioning to cushion risks from the dragging effect of the pandemic.
Rolando Avante, president and CEO of Philippine Business Bank, said in an interview with ANC on Thursday that there "can be a further worsening of the banking books" due to MSME lending, but noted banks will take on more provisioning to cushion risks from the dragging effect of the pandemic.
Avante said PBB is looking to raise capital this year, either through the share sale at the Philippine Stock Exchange, or an entry of a strategic investor.
Avante said PBB is looking to raise capital this year, either through the share sale at the Philippine Stock Exchange, or an entry of a strategic investor.
Read More:
banks
banking sector
bank loans
MSMEs
SMEs
small and medium enterprises
micro small and medium enterprises
Philippine Business Bank
economy
Philippine banks
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