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Lawrence Agcaoili
Lawrence Agcaoili
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Philippine recovery from COVID-19 longest in SEA – Citigroup
by Lawrence Agcaoili - January 20, 2021 - 12:00am
Philippine economic recovery from the coronavirus pandemic is expected to be slower than its peers in Southeast Asia, according to US-based investment bank Citigroup.
Banks see NPL ratio peaking at 6 to 7%
by Lawrence Agcaoili - January 19, 2021 - 12:00am
The non-performing loan ratio of the banking sector is seen peaking at six to seven percent due to the impact of the pandemic, according to the Bankers Association of the Philippines.
Security Bank to open more branches
by Lawrence Agcaoili - January 19, 2021 - 12:00am
Security Bank Corp. is set to open seven new branches this year as it pursues its nationwide expansion program despite the impact of the pandemic.
BSP earnings down 14% to P34.5 billion
by Lawrence Agcaoili - January 18, 2021 - 12:00am
The Bangko Sentral ng Pilipinas reported a 14.3 percent decline in earnings to P34.5 billion from January to November last year compared to a year-ago level of P40.24 billion on the back of lower revenues and the...
CIMB reports 800% jump in deposits
by Lawrence Agcaoili - January 18, 2021 - 12:00am
CIMB Bank Philippines reported an 800 percent jump in its deposits balance sheet as it continued to offer higher interest rates compared to other banks.
BSP chides credit card issuers amid complaints
by Lawrence Agcaoili - January 18, 2021 - 12:00am
The Bangko Sentral ng Pilipinas has reminded credit card issuers to strictly comply with the mandated debt moratorium to ease the burden of Filipinos amid the pandemic.
Standard Chartered extends expertise in fund raising
by Lawrence Agcaoili - January 17, 2021 - 12:00am
Standard Chartered Bank aims to help governments and companies raise more funds to cushion the impact of the COVID-19 pandemic.
Firms expand financial services amid pandemic
by Lawrence Agcaoili - January 17, 2021 - 12:00am
Companies continue to expand and innovate the delivery of financial services through digital channels amid the mobility restrictions brought about by the COVID-19 pandemic.
SEC clears PNB asset transfer
by Lawrence Agcaoili - January 16, 2021 - 12:00am
The Securities and Exchange Commission has allowed Philippine National Bank to transfer its low-earning assets to a wholly owned holding firm in a bid to strengthen the bank’s financial position.
Moody’s: Budget gaps to remain at record highs
by Lawrence Agcaoili - January 16, 2021 - 12:00am
Budget shortfalls in emerging markets like the Philippines would remain at record highs, as debt issuances continue to mount, a leading global credit agency said.
Gross international reserves hit record $109.8 billion
by Lawrence Agcaoili - January 16, 2021 - 12:00am
The Bangko Sentral ng Pilipinas built up the country’s foreign exchange reserves to a record $109.8 billion in 2020 in a bid to soften the impact of the coronavirus pandemic on the economy.
‘Dirty money’ deals breach P1 trillion mark
by Lawrence Agcaoili - January 16, 2021 - 12:00am
Proceeds from money laundering, terrorist financing and proliferation financing across the financial ecosystem have breached the P1-trillion mark, with cash remaining as the most preferred medium, the Bangko Sentral...
AUB to redeem P5 billion debt ahead of schedule
by Lawrence Agcaoili - January 14, 2021 - 12:00am
Rebisco Group’s Asia United Bank is redeeming P5 billion in debt notes ahead of scheduled maturity to save on interest payments.
Bank lending slowest in over 14 years – BSP
by Lawrence Agcaoili - January 13, 2021 - 12:00am
Credit growth fell below one percent in November last year, the slowest in more than 14 years, and could even turn negative next month due to uncertainties brought about by the pandemic, according to preliminary...
Moody’s: Philippines to grow by 7%
by Lawrence Agcaoili - January 13, 2021 - 12:00am
The Philippines is likely to recover from the pandemic-induced recession with a seven percent gross domestic product growth this year, according to Moody’s Investors Service.
Rediscount loans plunge 78% to P27 billion in 2020
by Lawrence Agcaoili - January 12, 2021 - 12:00am
Peso rediscounting loans extended by the Bangko Sentral ng Pilipinas plunged by 78 percent to P26.9 billion last year from a record P122.7 billion in 2019 due to lack of takers amid the massive liquidity released...
Fitch affirms Philippines' investment grade rating
by Lawrence Agcaoili - January 12, 2021 - 12:00am
The Philippines is seen recovering from the pandemic-induced recession with a gross domestic product growth of 6.9 percent this year and eight percent next year, prompting international debt watcher Fitch Ratings...
NPL ratio of banks hits 3.8%
by Lawrence Agcaoili - January 11, 2021 - 12:00am
The gross non-performing loan ratio of Philippine banks accelerated for the 11th straight month to hit the highest level in more than seven years as the industry’s bad debts surged by 74 percent due to the...
Anti-money laundering among top concerns of Philippines banks
by Lawrence Agcaoili - January 11, 2021 - 12:00am
Compliance with mandatory credits to agriculture and agrarian reform, as well as anti-money laundering continue to be the most challenging areas for banks and financial institutions, according to the Bangko Sentral...
Fintech helps transform Philippines into a cash-lite economy
by Lawrence Agcaoili - January 10, 2021 - 12:00am
Financial technology firm Zybi Tech Inc. is further expanding its digital services amid a shift in consumer behavior due to the COVID-19 pandemic.
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