Outstanding loans from universal and commercial banks maintained a double-digit pace of growth in March as high liquidity of the banking sector prompted industry members to service credit requirements of consumers and enterprises.
The Bangko Sentral ng Pilipinas has issued stricter capitalization guidelines that banks must comply with starting January 2014 to meet Basel III standards.
Universal and commercial banks in the country further trimmed their exposure to bad debts in February—an indication that their loan books remained virtually shielded from the ill effects of the ongoing crisis in the Euro zone.
The Bangko Sentral ng Pilipinas has approved the opening of over 100 new bank branches, hoping to improve accessibility of financial services in the country.
Bank deposits in the country grew further in the third quarter due to the modest rise in income levels and sustained public confidence in the banking sector, regulators said. The rise in deposits as of end-September last year would boost lending activities of banks this year, thereby supporting efforts to accelerate growth in consumption and [...]
