Based on preliminary data, loans disbursed by universal and commercial banks amounted to P12.14 trillion in endJuly, P1.14 trillion higher than the P11 trillion recorded in the same period last year.
Bank lending growth marked the fastest in 19 months or since the 13.7 percent expansion in December 2022 despite the elevated high interest rate environment.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the loan growth in July is a good sign for the economy as it is faster than the gross domestic product (GDP) growth of 6.3 percent in the second quarter.
Bu hikaye The Philippine Star dergisinin September 02, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Philippine Star dergisinin September 02, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
IPC E&C, Goldwind to install wind farm turbines in Phl
IPC E&C Philippines Corp-and Goldwind International Philippines Inc. have signed an agreement to supply and install crane equipment for the Kalayaan 2 onshore wind farm in Luzon.
SEC tightens beneficial ownership policies
The Securities and Exchange Commission (SEC) is working with its peers in Southeast Asia to ensure that corporate structures are not used for illegal activities by advancing the implementation of beneficial ownership policies.
Toyota PH turns over Land Cruiser Prado to two-time Olympic gold medalist Carlos Yulo
The Filipino Olympic hero is honored by company officials and team members in a turnover ceremony at Toyota Motor Philippines' Laguna plant
The MG G50 Plus Luxury might be the brand's next ZSuccess
There are a lot of MPVs in the market today that are designed to mimic an SUV, in a way.
DOTr, DOT eye European market
Transportation Secretary Jaime Bautista and Tourism Secretary Christina Frasco are eyeing the European market to boost the country's tourism revenues.
They can't seem to get it
It is frustrating and somewhat scary that our ruling elite can't seem to get it.
Car sales zoom 6.6% in Aug
Motor vehicles sold in the country zoomed by 6.6 percent in August, driven by model introductions in recent months.
BSP to revise rules on selection of external auditors
The Bangko Sentral ng Pilipinas (BSP) is looking to amend the guidelines on the selection of external auditors for banks and financial institutions to enhance corporate governance.
PCC, SM team up to promote fair competition
SM Supermalls has teamed up with the Philippine Competition Commission (PCC) to promote fair competition through an information campaign as part of its commitment to ensuring a level playing field and consumer welfare.
Phl IPOs to be fueled by RE listings
Optimism still surrounds the initial public offering (IPO) market in Southeast Asia despite a slow start in 2024, with more renewable energy (RE) listings seen powering up the Philippine IPO landscape.