Philippines

The Bankers' Association of the Philippines (BAP) believes demand for loans will grow by 15% to 20% this year because of the country’s sound macroeconomic fundamentals.

The total resources of the Philippine banking system rose by almost 10 percent at the end of September. This is indicative of the public’s continued trust in the banking sector, according to the Bangko Sentral ng Pilipinas.

A recently passed bill will allow non-Filipinos to buy and own up to 40% of a rural bank’s authorized capital stock.

The seven-year loan is the telecom's second borrowing this year.

The lender's performance brought the bank’s annualized return on equity to 12.3%.

The lender's loans and investments interest revenue soared to $19.15mn, offsetting a decline of $19.15mn in trading income.

The move will strengthen the lender’s capital base.

The Filipino lender targets to provide Filipinos in the US the cheapest remittance service.

Eight local lenders asked the court to stop the government from imposing a 20% tax on interest income from Php35b worth of bonds.

8 banks seek the country’s Supreme Court mandate to stop imposing the tax.

The lender said it pioneered innovations through banking processes streamlining, computerizing and automating operations.

Ms Dagdag will be responsible for senior leadership at the sales and solution delivery department.

BSP officials believe easing of rules on foreign exchange would help prevent the steep fall or rise of the peso.

The lender’s non-performing loan ratio was only 3.2% as of June as they continued to trim their soured loans and give out more loans.

This resulted to an annualized return on equity of 19.0% as of June 2011.

3 BPI units join forces to deliver insurance products to low-income earning Filipinos