Small banks now lending more to SMEs
The country’s rural and cooperative banks remain stable and are in a strong position to support the financing needs of micro, small and medium enterprises as well as large firms…
Small banks now lending more to SMEs thanks to BSP’s reserve cuts
MANILA, Philippines — The country’s rural and cooperative banks remain stable and are in a strong position to support the financing needs of micro, small, and medium enterprises as well…
UBX, Lazada team up on SME lending program
UBX, the fintech arm of Union Bank of the Philippines, has teamed up with e-commerce platform Lazada to offer credit lifeline to micro, small and medium enterprises (MSMEs) grappling with…
Bank lending accelerates as BSP’s economic boosters gain traction
Philippine banks lent out money at a quicker pace in March in step with the central bank’s moves to pump the local financial system with cheap funds and buttress the…
BSP eases rules to encourage bank lending to small firms
The central bank on Tuesday (May 5) rolled out new measures to encourage a steady flow of credit to small firms—many of which have been hit severely by the ongoing…
SEC orders shutdown of 4 online lending ventures
The Securities and Exchange Commission (SEC) has ordered the shutdown of four online lending platforms that had been operating without the proper permits, imposing “unreasonable” terms and using “abusive” practices.…
SEC orders closure of 4 illegal online lending apps
Securities and Exchange Commission (SEC) logo The Securities and Exchange Commission (SEC) has directed four online lending platforms to stop offering loans to the public, citing lack of license, failure…
DOF backs 2 state-run banks as lending conduits in post-coronavirus stimulus package
The Department of Finance (DOF) is supporting the pitch of state-run lenders Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) to serve as the government’s…
Banking group seeks lower lending rates during, after COVID-19 crisis
The Bankers Association of the Philippines on Monday (March 30) told the country’s largest financial institutions to keep their lending rates as low as possible to help keep the economy…