Fitch Ratings predicts that the strong economy will support the asset quality and earnings of Philippine banks in the next two years, despite lower interest rates. The ratings agency expects GDP growth to accelerate to 6.0-6.5% in 2024 and 2025. Fitch also anticipates stable issuer default ratings for Philippine banks, driven by the expectation of support from the Philippine sovereign if needed. Private banks such as BDO Unibank, Bank of the Philippine Islands, and Metropolitan Bank & Trust Company are expected to outperform state-owned banks due to their underwriting standards and business profiles.
The robust economy will support Philippine banks’ asset quality and earnings over the next two years, Fitch Ratings said in a new report.
The standalone credit profiles of the large privately owned Philippine banks—BDO Unibank Inc., Bank of the Philippine Islands and Metropolitan Bank & Trust Company—continue to outperform their state-owned peers, helped by the banks’ steadier underwriting standards and entrenched business profiles. Fitch said the Philippine banking sector’s profitability hit a 10-year high in 2023, driven by wider margins. System asset quality also held up well despite the sharp rise in interest rates, as indicated by the system non-performing loan ratio of 3.5 percent as of January 2024, helped by the supportive economic environment.
Philippine Banks Fitch Ratings Economy Asset Quality Earnings Interest Rates GDP Growth Issuer Default Ratings Sovereign Support Private Banks State-Owned Banks
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Bank of the Philippine Islands Offers Personal Cyber Insurance for Debit CardholdersBank of the Philippine Islands (BPI) is offering its debit cardholders a personal cyber insurance (PCI) to protect their daily transactions made using BPI debit cards. The insurance can be availed for P700 annually and offers tailored coverage options. BPI aims to ensure the peace of mind of its debit cardholders with the introduction of PCI.
Baca lebih lajut »
PBBM glad on trust ratings; vows to work harder to achieve goalsDefining the News
Baca lebih lajut »
Bong Go expresses gratitude amid consistent high ratings in recent surveyIn the wake of the latest senatorial survey, Senator Christopher “Bong” Go has extended his gratitude for the unwavering support and trust the Filipino people have placed in him.
Baca lebih lajut »
President BBM's Approval and Trust Ratings Fall DramaticallyThe approval and trust ratings of President Ferdinand “Bongbong” Romualdez Marcos Jr. (BBM) fell dramatically, indicating popular dissatisfaction with his performance, policies, and recent decisions.
Baca lebih lajut »
Clark’s win sets US basketball TV ratings recordDefining the News
Baca lebih lajut »
Clark's epic win sets US women's basketball TV ratings recordDefining the News
Baca lebih lajut »