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Lawrence Agcaoili
Lawrence Agcaoili
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OFW remittances may rise by up to 7% this year
by Lawrence Agcaoili - August 5, 2021 - 12:00am
Cross-border digital payments services provider WorldRemit sees remittances from overseas Filipino workers bouncing back, with growth of six to seven percent this year after slumping by 0.8 percent last year due...
Higher infrastructure spending to widen CA deficit
by Lawrence Agcaoili - August 5, 2021 - 12:00am
Higher infrastructure spending in the second half ahead of the national elections in May next year may result in a wider current account (CA) deficit, according to Nomura Singapore Ltd.
Banks’ bad loans may rise until H1 next year
by Lawrence Agcaoili - August 4, 2021 - 12:00am
Banks’ bad loans are expected to pick up until the first half of next year as the country continues to struggle to contain the pandemic.
Metrobank profit jumps 28% to P11.7 billion in H1
by Lawrence Agcaoili - August 4, 2021 - 12:00am
The profit of Ty-led Metropolitan Bank & Trust Co. jumped by more than 28 percent to P11.7 billion in the first half from P9.1 billion in the same period last year.
Moody’s: NCR lockdown to further dampen Philippine recovery prospects
by Lawrence Agcaoili - August 4, 2021 - 12:00am
The reimposition of stricter lockdown and quarantine measures in the National Capital Region starting Friday could further dampen the recovery prospects of the Philippines from the pandemic-induced recession, according...
BanKo loans hit P22 billion
by Lawrence Agcaoili - August 3, 2021 - 12:00am
The microfinance arm of Ayala-led Bank of the Philippine Islands has released over P22 billion in loans over the past four years to help micro, small and medium enterprises.
BDO profit surges to P21.45 billion in H1
by Lawrence Agcaoili - August 3, 2021 - 12:00am
Earnings of Sy-led BDO Unibank Inc. reached P21.45 billion in the first half, more than five times the P4.25-billion profit recorded in the same period last year as provision for bad debt plunged sharply.
Credit card issuers see more challenges
by Lawrence Agcaoili - August 2, 2021 - 12:00am
Credit card issuers expect delinquency rate to be more challenging despite a lower default rate in the second quarter, according to the Credit Card Association of the Philippines.
BSP extends zero spread on rediscounting loans
by Lawrence Agcaoili - August 2, 2021 - 12:00am
The Bangko Sentral ng Pilipinas has extended the zero spread on its peso rediscount loans until the end of the year to allow banks to tap the facility to meet their temporary liquidity needs amid the pandemic...
Hot money hits $334 million in June
by Lawrence Agcaoili - August 2, 2021 - 12:00am
More foreign portfolio investments or speculative funds flowed into the Philippines for the second straight month, resulting in a net inflow of $334.51 million in June, according to the Bangko Sentral ng Pilipi...
Banks tell clients to be vigilant vs cybercriminals
by Lawrence Agcaoili - August 1, 2021 - 12:00am
The banking public should remain vigilant amid the increasing number of online fraud such as phishing and other cybercrimes amid the pandemic.
Bank lending to MSMEs climbs to P184 billion in June
by Lawrence Agcaoili - August 1, 2021 - 12:00am
Loans extended by banks to micro, small, and medium enterprises, which are used as compliance to the reserve requirement ratio, reached P183.9 billion as of mid-June, according to the Bangko Sentral ng Pilipina...
Economists contradict BSP on July inflation movement
by Lawrence Agcaoili - August 1, 2021 - 12:00am
Most economists are convinced inflation eased further in July and returned within the two to four percent target of the Bangko Sentral ng Pilipinas.
Lockdown delays $30 million FedEx hub
by Lawrence Agcaoili - July 31, 2021 - 12:00am
Strict lockdown and quarantine measures due to the COVID-19 pandemic further pushed back the opening of the $30 million gateway facility of American logistics giant FedEx Corp. in Clark, Pampanga.
BSP invests $550 million in sustainable bonds
by Lawrence Agcaoili - July 31, 2021 - 12:00am
The Bangko Sentral ng Pilipinas raised its investments in sustainable and green bond funds to $550 million as it continues to ramp up sustainable finance framework by encouraging banks to issue more green, social,...
BSP sees higher inflation in July
by Lawrence Agcaoili - July 31, 2021 - 12:00am
Inflation likely accelerated to 4.3 percent in July after easing to 4.1 percent in June amid rising pump prices of petroleum products, higher electricity rates and the weaker peso, according to the Bangko Sentral...
Bank lending shrinks for 7th straight month
by Lawrence Agcaoili - July 31, 2021 - 12:00am
Loan disbursements by big banks shrank for the seventh straight month, although at a slower pace of two percent in June from four percent in May, as the spread of the COVID-19 Delta variant continued to temper outlook...
China Bank income jumps 39% to P7.3 billion
by Lawrence Agcaoili - July 30, 2021 - 12:00am
China Banking Corp. booked a 39 percent jump in earnings to P7.3 billion in the first semester from P5.2 billion in the same period last year, despite a double digit increase in its provision for bad debts due to...
Household spending to fully recover in 2022
by Lawrence Agcaoili - July 30, 2021 - 12:00am
he consumer and retail sector in the Philippines is seen fully recovering from the impact of the COVID-19 pandemic next year after a major slump last year, according to Fitch Solutions Country Risk & Industry R...
Philippine credit rating downgrade possible by early 2022 – ING
by Lawrence Agcaoili - July 29, 2021 - 12:00am
The Philippines faces the likelihood of a credit rating downgrade from debt watchers if the country fails to immediately address the scarring effects caused by the COVID-19 pandemic, according to Dutch financial...
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