PH’s COVID-19 loans, grants hit $6.508 billion
MANILA, Philippines — The loans and grants secured by the Philippines to finance COVID-19 response climbed to $6.508 billion (over P325 billion) to date after it signed a $750-million loan…
COVID-19 financing pushes PH loans to new high of P8.6T
Government borrowings to finance COVID-19 response have driven debts through the roof, pushing total to a new high of P8.6 trillion in April alone. At least two-thirds of the debts…
PH adds $1.25B in loans to war chest vs COVID-19
The Philippines secured a total of $1.25 billion in loans from two multilateral lenders last Thursday (May 28), filling its war chest in the fight against COVID-19. The China-led Asian…
Ayala Land may issue bonds, tap new loans to raise P19B
Property giant Ayala Land Inc. (ALI) plans to raise as much as P19 billion through a mix of new borrowings in the coming months, taking advantage of softening interest rates…
DOF: Nearly $5B in foreign loans, grants added to COVID-19 funds
To finance response to the COVID-19 pandemic, the Philippine government so far borrowed from foreign lenders and secured grants worth nearly $5 billion, with much of the money already injected…
BSP: No interest on loans during ECQ, MECQ period
The Bangko Sentral ng Pilipinas (BSP) on Thursday reminded lending institutions that they are prohibited from charging interest on interest, fees and charges—such as late payment fees—on all loan payments…
BSP: Proposed FIST law to buttress PH banks even if bad loans double
The central bank will provide the local banking system with the support it needs to insulate itself from a buildup of bad loans that may result from the ongoing coronavirus…
Airlines seek gov’t help in getting bank loans
The country’s biggest airlines are urging lawmakers to include loan guarantees for their industry in a proposed stimulus bill to support sectors devastated by the coronavirus pandemic. Roberto Lim, vice…
PSBank profit down 5.1% as it prepares for rise in bad loans
The Metrobank group’s thrift bank arm, Philippine Savings Bank (PSBank), saw a 5.1-percent year-on-year drop in first quarter net profit amounting to P646.2 million as it set aside a bigger…
S. Korea’s credit card loans soar in March amid COVID-19 fallout
SEOUL — South Korea’s credit card loans soared 25.6 percent on-year in March, amid the prolonged economic fallout of the COVID-19 outbreak, industry data showed Wednesday. Seven major credit card…