The Philippine banking industry helped the economy recover from a 9.6-percent contraction in 2020, the country’s worst performance since the
“As we all know, it was a surprisingly strong recovery. Coming out of a crisis, it was a recovery like no other,” Bangko Sentral ng Pilipinas Governor Eli Remolona said during the BSP’s 30th anniversary reception for the banking community in July.
“I have said this before, and I’ll say it again. Unlike in previous crises, this time our banks were part of the solution rather than part of the problem,” Remolona said.The banking system continued its strong performance as evidenced by sustained expansion in assets, deposits, and profit as well as stable capital and liquidity buffers and ample provision for credit losses.
Non-performing loans coverage ratio across banking groups registered an increase this year. Universal and commercial banks posted an ample NPL coverage ratio of 111.5 percent as of end-March 2023. Meanwhile, thrift banks and rural and cooperative banks’ NPL coverage ratios stood at 65.9 percent as of end-March 2023 and 79.0 percent as of end-December 2022, respectively.Total deposits of the banking system expanded 9.8 percent year-on-year to P17.7 trillion as of end-March 2023.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
'Kulay Sa Tubig': 35th edition celebrates the best in Philippine watercolor artKulay Sa Tubig, the premiere watercolor competition in the Philippines, celebrated its 35th edition, with the absolute best aquarelle artists competing for the highest recognition using the most difficult medium.
Baca lebih lajut »
Philippine gaming revenues seen reaching up to $5.9 billion in 2023Gross gaming revenues in the Philippines are expected to reach $5.2 billion to $5.9 billion this year, surpassing the $4.84
Baca lebih lajut »
![[ANALYSIS] BRP Sierra Madre and the complexities of geopolitics in the West Philippine Sea](https://i.headtopics.com/images/2023/8/22/rapplerdotcom/analysis-brp-sierra-madre-and-the-complexities-of--analysis-brp-sierra-madre-and-the-complexities-of--CD96EE93124D9354FA479F9856124058.webp?w=640)
[ANALYSIS] BRP Sierra Madre and the complexities of geopolitics in the West Philippine Sea'If the US and the other allied countries are not prepared for an escalation of tensions in the WPS, then they would surely discourage us from pursuing aggressive options'
Baca lebih lajut »
LPA forms over Philippine Sea; southwest monsoon brings scattered rainThe low pressure area is 665 kilometers east of Aparri, Cagayan, on Tuesday afternoon, August 22
Baca lebih lajut »
Philippine theaterRAPPLER | Philippine & World News | Investigative Journalism | Data | Civic Engagement | Public Interest
Baca lebih lajut »
Philippine Coast GuardRAPPLER | Philippine & World News | Investigative Journalism | Data | Civic Engagement | Public Interest
Baca lebih lajut »