By JON VIKTOR D. CABUENAS, GMA News
Published April 15, 2021 1:28pm Remittances from overseas Filipinos posted growth in February after falling in the past two months, data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed. Central bank data show cash remittances money transfers coursed through banks rose 5.1% to $2.477 billion in February from $2.358 billion the same month in 2020. Cash remittances from land-based workers climbed 7.8% to $1.982 billion, while that of sea-based workers fell by 4.6% to $495 million. Year-to-date, cash remittances were up 1.5% to $5.080 billion from $5.006 billion recorded in the same period last year. The BSP attributed the growth in cash remittances for the first two months of the year from the United States, Malaysia, and Singapore.
Peso gains vs dollar on improved outlook for PHL banking sector
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BSP raises P80 billion from short-term securities
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Published April 13, 2021, 5:14 PM
Moody’s Investors Services has returned its “stable” outlook for Philippine banks with the economy’s gradual but “mild” improvement this year and despite that banks’ asset risks are still on high side.
“We have changed the Philippines’ banking system outlook to ‘stable’ from ‘negative’ to reflect our expectations that a mild economic recovery will support the operating environment for banks. However, asset risks remain high because of a prolonged curtailment of business activity, a high unemployment rate and weak consumer sentiment,” according to the credit rating agency’s “Banking System Outlook Update – The Philippines” released Tuesday.