Exposure to weak property market could diminish banks’ buffers Debt watcher Fitch Ratings has warned the Philippine banking sector of heightened impairment risks from the property sector. “Protracted economic weakness could expose the banks to lumpy impairments and diminish their loss-absorption buffers – given their high large-borrower concentration and the strong correlation of the property […]
Read MoreMANILA, Philippines — Anemic demand for dollars from importers coupled with lenders’ hesitation to extend credit further sank foreign currency loans granted by big local banks last year. What’s new Banks lent out $16.7 billion under the foreign currency deposit units (FCDUs) as of December last year, down 3.6% on a quarter-on-quarter basis, the Bangko Sentral […]
Read MoreMANILA, Philippines — Inflation likely eased in March amid cuts in electricity rates in areas serviced by Manila Electric Co. (Meralco) as well as cheaper food items due to improved supply conditions and the continued implementation of price caps on meat products, according to the Bangko Sentral ng Pilipinas (BSP). The nationwide inflation rate is […]
Read MoreDespite passage of key laws MANILA, Philippines — More foreign portfolio investments or speculative funds left the Philippines in February despite the passage of key laws to attract more investors amid the ongoing global health crisis, according to the Bangko Sentral ng Pilipinas (BSP). Data released by the central bank showed foreign portfolio investment yielded […]
Read MoreMANILA, Philippines — Singapore-based ASEAN+3 Macroeconomic Research Office (AMRO) has slashed its 2021 economic growth outlook for the Philippines amid continued difficulty in containing COVID-19 cases. In its latest ASEAN+3 Regional Economic Outlook report, AMRO estimates that the Philippines’ gross domestic product (GDP) may grow by 6.9 percent this year, much lower than its previous […]
Read MoreMANILA, Philippines — Philippine banks remain at risk amid the prolonged weakness of the property sector despite the recovery in prices in the fourth quarter of last year, according to Fitch Ratings. In a report, the debt watcher said the Philippines’ property market would remain weak amid the impact of the pandemic. “We expect the […]
Read More
Thailand
