Bangko Sentral ng Pilipinas to Raise Rate
By Michelle Remo Philippine Daily Inquirer The Bangko Sentral ng Pilipinas has hinted it might soon raise its key policy rates, saying that while current price movements were still favorable, the buildup of inflationary pressures was reducing its flexibility to keep rates at historic lows. “Indeed the scope for keeping rates has narrowed,” BSP Governor [...]
Non-performing Loans Reported by Bangko Sentral
Higher lending activities along with the drop in non-performing loans enabled universal and commercial banks (U/KBs) to post its lowest non-performing loan (NPL) ratio of 2.88 percent in end-December 2010. The Bangko Sentral ng Pilipinas (BSP) said the end-December 2010 level, which is the 27th consecutive month that is below four percent, is lower by [...]
Net Income of UCPB: United Coconut Planters Bank
Rise in loans and investments along with lower fund cost enabled UCPB to surpass by 44 percent its 2009 net income and exceeded its 2010 target after it registered a P2.39-billion unaudited net income last year. The bank’s 2009 net income stood at P1.66 billion while last year’s income target is P2.2 billion. “Higher loan [...]
Multi-billion-dollar Loan Assistance for the Philippines
The Asian Development Bank (ADB) may lend a multi-billion-dollar loan assistance for the Philippines for the next three years, according to the National Economic and Development Authority (NEDA). Documents from NEDA showed that the indicative Country Partnership Strategy (CPS) from 2011 to 2013 amounted to $ 2.319 billion. For next year, the ADB may lend [...]