Kuala Lumpur-based CIMB Group opened its first retail branch in the Philippines more than a year after obtaining a green light from the Bangko Sentral ng Pilipinas (BSP) to establish banking operations in the country.

The percentage of households with outstanding loans continues to increase as families turn to borrowing to cope with higher expenses due to rising prices of basic commodities, a survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed.

The Bangko Sentral ng Pilipinas (BSP) is urging banks to open up their loan portfolio to agricultural financing as the ‘severely limited’ access to finance remains one of the major hindrances to the flourishing of the sector.

Security Bank Corp. (PSE: SECB) continues to demonstrate leadership in the Philippine banking industry.

The Bangko Sentral ng Pilipinas (BSP) will continue to expand it’s surveillance toolkit as it closely monitors lending activities to prevent economic overheating.