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Thrift banks report rising soured loans

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Aggressive lending to the real estate sector led to an increase in bad loans held by thrift banks at the end of last year, data released by the central bank Wednesday showed.

Posted: August 1st, 2013 in Headlines | Read More »

BSP: Small banks may now sell financial products

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Rural and thrift banks are now allowed to sell financial products such as insurance plans and credit cards of their sister firms, according to the central bank.

Posted: July 5th, 2013 in Headlines | Read More »

BSP opens cross-selling to thrift banks

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The Bangko Sentral ng Pilipinas has issued a regulation allowing banks to engage in cross-selling, a move aimed at making financial instruments accessible to more Filipinos.

Posted: June 12th, 2013 in Headlines | Read More »

BSP expected to allow rural, thrift banks to do cross-selling

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The Bangko Sentral ng Pilipinas is issuing a regulation that will allow thrift and rural banks to engage in cross-selling of financial instruments.

Posted: March 21st, 2013 in Headlines | Read More »

Thrift banks record profit hike in H1

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Thrift banks in the country registered higher profits in the first half of 2012 as robust economic growth led to higher demand for consumer loans and other financial services.

Thrift banks in the country registered higher profits in the first half as robust economic growth led to higher demand for consumer loans and other financial services.

Posted: December 10th, 2012 in Latest Business Stories | Read More »

Bancassurance rules for thrift banks set

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THE BANGKO Sentral ng Pilipinas will require thrift banks to own at least 5 percent of insurance firms they will partner with for the purpose of cross selling financial products.

Posted: December 4th, 2012 in Headlines | Read More »

Thrift banks allowed to do cross-selling

The Bangko Sentral ng Pilipinas is preparing to issue two sets of guidelines allowing thrift banks to engage in the cross-selling of financial products, a move that is seen to aid efforts at making average Filipinos financially savvy.

Posted: November 26th, 2012 in Headlines | Read More »

Thrift banks projected to post double-digit lending growth

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An SMDC condominium project. the recent increase in housing loans was accounted for largely by demand in Metro Manila, according Patrick Cheng, president of the Chamber of Thrift Banks.

The thrift banking industry said the outlook on auto, housing and other consumer loans remained rosy for 2013.

Posted: October 1st, 2012 in Latest Business Stories | Read More »

Sterling Bank 2011 net profit up 7% to P126M

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The Sterling Bank of Asia, the thrift banking arm of the Tiu family, grew its net profit in 2011 by 7 percent to P126.31 million on higher interest income on loans and bigger trading gains.

Posted: May 23rd, 2012 in Latest Business Stories | Read More »

Thrift banks facing tougher competition

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The country’s thrift banks are bracing for cutthroat competition brought about by the entry of more commercial banks into their turf, particularly in lending to consumers for their home and vehicle purchases.

Posted: March 26th, 2012 in Latest Business Stories | Read More »

Thrift banks urged to lend more to small businesses

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Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. has urged thrift banks to lend more to micro, small and medium enterprises (MSMEs), stressing the crucial role of banks in helping achieve the country’s poverty reduction and economic development goals.

Posted: March 22nd, 2012 in Headlines | Read More »

Thrift, co-op banks cut exposure to bad debt

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Thrift and cooperative banks managed to reduce their exposure to bad debts at the end of the first semester last year, thanks to their adherence to what regulators consider as prudent lending standards.

Posted: February 13th, 2012 in Headlines | Read More »

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