Consumer loans grew faster in ’12
By Michelle V. Remo
Housing, auto and credit card loans grew by a faster pace in 2012, helping boost consumer spending that, in turn, aided the economy’s expansion.
Housing, auto and credit card loans grew by a faster pace in 2012, helping boost consumer spending that, in turn, aided the economy’s expansion.
With the explosion of consumer credit and expansion of the economy, Philippine banks are being urged early on to improve their collection systems for small loans and receivables to prevent problems down the road.
Peso- and dollar-denominated loans disbursed by the Bangko Sentral ng Pilipinas through its rediscounting window posted a double-digit growth in the first quarter as credit demand in the country remained robust. This developed as banks further stepped up their lending activities to generate more volume in the hope of offsetting the decline in earnings due [...]
The Bangko Sentral ng Pilipinas’ loan portfolio grew by 3 percent in 2012 as some banks tapped more credit to support the expansion of their lending operations and address short-term need for liquidity.
Philippine Bank of Communications (PBCom) seeks to grow its consumer lending portfolio with the rollout of a personal loan package for qualified professionals, business owners and salaried employees.
Loans secured by banks from the Bangko Sentral ng Pilipinas surged in the first two months of the year, as the historic-low interest rates encouraged borrowing activities.
The Asian Development Bank has made available $102 million to the Philippine government to boost the use of renewable energy in the country, specifically solar and hydropower resources.
Bank lending in the country remained robust in 2012, as the combined loan portfolios of universal and commercial banks registered another double-digit expansion.
Banks in the country can lend much more to consumers and businesses without resulting in the overheating of the economy.
Total peso-denominated loans secured by banks from the rediscounting facility of the Bangko Sentral ng Pilipinas surged in 2012 from the previous year as record time low interest rate encouraged heavier borrowings.
The government’s financing position in the 11 months to November showed a net borrowing of P477 billion, or about five times the P99.7 billion registered in the same period last year, according to the Bureau of Treasury (BTr). From January to November, the government borrowed more at a faster rate, while its payments declined, [...]
The Asian Development Bank (ADB) has approved a $300-million (P12 billion) loan to the Philippine government to replace 100,000 gasoline-powered tricycles throughout the country with more energy efficient electric units and kickstart the transition to a sustainable nationwide transport program.
