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BusinessWorld February 18, 2021 | 12:33 am By Reporters THE BANKING industry’s nonperforming loan (NPL) ratio is expected to be reduced, with the implementation of the Financial Institution Strategic Transfer (FIST) law, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said. “It will ease the NPL ratios of banks moving forward. FIST is expected to reduce the NPL ratio by about 0.63 to 7.0 percentage points,” Mr. Diokno told reporters in a Viber message on Tuesday night. The banking industry’s NPL ratio stood at 3.61% as of end-December, much higher than the 2.08% a year earlier but still better than BSP’s 4.6% projection for end-2020. Republic Act No. 11523, or the FIST Act, was signed into law by President Rodrigo R. Duterte on Tuesday. The law allows banks to clean up their books by selling their soured loans to so-called Financial Institutions Strategic Transfer Corporations (FISTCs).

Angelito litom villanuevaBangko sentralBenjamine dioknoRuben carloLuz wendyBeatricem laforgaMarissao cabrerosRodrigor duterteFinancial executives institute of the philippinesFinancial institution strategic transferBureau of internal revenueFintech allianceLand registration authorityDepartment of finance doExchange commissionPhilippines inc