BSP extends 30% SBL cap for banks until yearend – Manila Bulletin mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
Should the Philippines miss the current forecast, it will be the second consecutive year that the country will fall short of the DBCC outlook after the economy shrank by 9.6% in 2020 versus the assumption of -8.5% to -9.5%. For 2019, the gross domestic product (GDP) was initially announced at 5.9%, short of the downward-revised goal of 6.0% to 6.5%. This was later revised to 6.0% to fall within the lower range of the target. According to Chua, the Philippine economy is expected to return to pre-pandemic levels in 2022, as prospects are encouraging. He noted that three growth drivers are needed for this to come to fruition the reopening of the economy at the appropriate time, the timely implementation of the recovery package, and a strong vaccination rollout.
NPL ratio could breach 5% by end-2021 âBSP
April 26, 2021 | 12:32 am
Reporter
THE BANKING INDUSTRYâS nonperforming loan (NPL) ratio may go beyond 5% by the end of this year, a Bangko Sentral ng Pilipinas (BSP) official said.
âWeâre expecting the year-end 2021 NPL ratio to be a little above 5%,â BSP Deputy Governor Chuchi G. Fonacier told
BusinessWorld via Viber message.
Ms. Fonacier said the Financial Institutions Strategic Transfer (FIST) Law, signed in February, will help banks offload bad assets which will bring down the NPL ratio.
âWith the enactment of the FIST Law, it is estimated that NPL ratio of banks will decline by 0.63 to 0.71 percentage points,â she said.
BusinessWorld
April 14, 2021 | 12:35 am
Reporter
LENDERS’ bad loans rose for the second straight month in February, bringing the nonperforming loan (NPL) ratio to its highest since 2009 as borrowers had difficulty making payments amid the coronavirus pandemic.
Bad loans are expected to peak by the second half of this year, according to S&P Global Ratings. However, it noted that improvements in borrowers’ capacity to pay remain clouded by the pace of economic recovery which depends on the successful handling of the coronavirus disease 2019 (COVID-19) and the mass vaccination drive.
Gross NPLs held by banks surged 80% to P431.266 billion in February from P239.902 billion a year earlier, based on preliminary data from the Bangko Sentral ng Pilipinas (BSP). It also increased by 9.05% from the P395.465 billion in January.
BSP governor remains optimistic about PHL economic growth bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.