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BSP tightens standards for savings, loan associations

THE CENTRAL BANK is tightening rules covering non-stock savings and loan associations (NSSLAs) by capping service fees and requiring risk management protocols to enhance oversight. The post BSP tightens standards for savings, loan associations appeared first on BusinessWorld......»»

Category: financeSource: bworldonline bworldonlineOct 16th, 2018

BSP clamps down on erring non-stock savings and loan associations

The Bangko Sentral ng Pilipinas is clamping down on non-stock savings and loan associations to protect members from wrong doings of their top officials......»»

Category: financeSource:  philstarRelated NewsOct 18th, 2018

MB okays new rules for thrift institutions

Non-stock savings and loan associations (NSSLAs) will have to establish know-your-member (KYM) guidelines under new rules approved by monetary authorities. In a statement, the Bangko Sentral ng Pilipinas said its policy-making Monetary Board had approved guidelines on the establishment of identities and the eligibility of persons to become NSSLA members, and the determination of the [...] The post MB okays new rules for thrift institutions appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJan 24th, 2018

BSP caps investments of non-stock savings, loan associations

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has put a cap on the amount of investments of non-stock savings and loan associations (NSSLA) to.....»»

Category: financeSource:  philstarRelated NewsJan 24th, 2018

Monetary Board sets ‘know-your-member’ rules for loan associations

THE Monetary Board (MB) approved on Tuesday new guidelines to protect Non-Stock Savings and Loan Associations (NSSLAs) members and its investments. In a statement on Tuesday, the MB said the guidelines cover the establishment of the true identity and eligibility of persons who want to become members of NSSLAs. “The Know-Your-Member (KYM) guidelines set clear […] The post Monetary Board sets ‘know-your-member’ rules for loan associations appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 23rd, 2018

Bangko Sentral urged to check savings and loan associations

MANILA, Philippines -  Financing companies have asked the Bangko Sentral ng Pilipinas (BSP) to issue a cease and desist order against an illegal practice bei.....»»

Category: financeSource:  philstarRelated NewsMay 28th, 2017

Banks seen tightening loan standards

Philippine banks expect to impose tighter lending standards in the fourth quarter of the year to corporate borrowers due to expectations that the country's economic challenges will erode their.....»»

Category: newsSource:  philippinetimesRelated NewsOct 23rd, 2018

CBS, MCBL to offer public school teachers salary loans that come with life insurance

China Bank Savings Corp. (CBS) and Manulife China Bank Life Assurance Corp. (MCBL) are set to provide automatic payroll deduction salary loan that comes with free life insurance. In a statement sent to reporters on Wednesday, CBS and MCBL said they partnered with the Department of Education (DepEd) to offer Easi-Automatic Payroll Deduction Salary Loans […] The post CBS, MCBL to offer public school teachers salary loans that come with life insurance appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsSep 5th, 2018

BSP says Basic Deposit Accounts, need no IDs

TAGBILARAN CITY, Bohol, August 25 (PIA)—A study cited by the national community managed savings and credit associations bared that only very few Filipinos own savings accounts due to the inability of some to present proper identifications top vouch for the depositor. The same study cited the fact that most people who opts to start a […].....»»

Category: newsSource:  boholnewsdailyRelated NewsAug 26th, 2018

Bring palay to NFA, get loan priority

“The NFA assured continuous support to farmers. Farmer cooperatives and associations that will sell at least 2,000 metric tons of palay to the National Food Authority (NFA) will be granted farm machinery and equipment as additional incentives, Department of Agriculture (DA) Secretary Manny Piñol said on Wednesday. Aside from this, groups that bring palay to […].....»»

Category: newsSource:  tribuneRelated NewsAug 3rd, 2018

Banks hold lending standards steady in second quarter — BSP poll

Philippine banks kept their lending criteria largely steady in the second quarter of the year, although some lenders said they grew stricter in granting loans to businesses due to more stringent financial system regulations, results of a recent central bank survey showed. Loan officers of the country’s universal and commercial banks said they maintained their […].....»»

Category: newsSource:  bworldonlineRelated NewsJul 20th, 2018

BSP tightens capital infusion rules

By Melissa Luz T. Lopez, Senior Reporter THE CENTRAL BANK has set stricter rules for lenders in choosing strategic investors, as the regulator raised standards on pledges for additional capital. The Bangko Sentral ng Pilipinas (BSP) issued Circular 1002 dated May 10, which tightens standards for banks in declaring capital infusions from third party investors […] The post BSP tightens capital infusion rules appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 17th, 2018

LANDBANK Lends P62.5B to Nearly 1M Small Farmers, Fishers in 2017, Strengthens Direct Lending

The Land Bank of the Philippines remained aggressive in channeling support to small farmers, fishers, and their associations with loan releases amounting to P62.5 billion in 2017. These benefited 837,653 farmers and fishers from across the country. “We at LANDBANK are doubling our efforts in lending to the agriculture sector, especially farmers and fishers, to […].....»»

Category: newsSource:  metrocebuRelated NewsApr 27th, 2018

BPI Family sees strong loan growth despite higher prices due to TRAIN

By Karl Angelo N. Vidal The thrift lending arm of listed Bank of the Philippine Islands (BPI) is bullish on its loan growth despite the effects of the tax reform law. In a round-table discussion on Tuesday, Joaquin Mari B. Abola, retail lending group head at BPI Family Savings Bank, Inc., said the lender is […] The post BPI Family sees strong loan growth despite higher prices due to TRAIN appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 3rd, 2018

Bank of Makati net profit surges

BANK of Makati, Inc. (BMI) doubled its net profit in 2017 on the back of its motorcycle loan business. In a statement obtained by BusinessWorld, the savings bank said it booked a P1.4 billion net income in 2017, 117.5% higher than the P645 million it logged the previous year. The spike in its profit was […] The post Bank of Makati net profit surges appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 23rd, 2018

RCBC Savings posts double-digit income growth

THE SAVINGS ARM of the Rizal Commercial Banking Corp. (RCBC) booked a double-digit income growth in 2017 on the back of the continued expansion of its loan businesses. During a media luncheon in Makati City on Friday, RCBC Savings Bank (RCBC Savings) President Rommel S. Latinazo said the lender booked a record-high profit of P1.35 […] The post RCBC Savings posts double-digit income growth appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 9th, 2018

DOF tightens internal audit

MANILA, Philippines — The Department of Finance (DOF) has formally adopted an internal auditing system that is compliant with global principles and standards.....»»

Category: financeSource:  philstarRelated NewsJan 31st, 2018

Banks relaxed lending rules in Q4

Banks relaxed lending to companies and households in the fourth quarter of 2017, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. Based on the central bank’s Fourth Quarter 2017 Senior Bank Loan Officers Survey (SLOS), credit standards, as measured using the diffusion index (DI) approach, showed a net easing for loans sought by enterprises [...] The post Banks relaxed lending rules in Q4 appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJan 19th, 2018

BSP survey shows credit standards holding steady in Q4

BANKS generally maintained their credit standards in the fourth quarter, according to a survey conducted by the Bangko Sentral ng Pilipinas (BSP), though banks that chose to ease lending norms outnumbered those moving to tighten. The fourth quarter 2017 Senior Bank Loan Officers’ Survey showed that “most of the respondent banks continued to maintain their […] The post BSP survey shows credit standards holding steady in Q4 appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 19th, 2018

PhilRatings gives PSBank top grade

PHILIPPINE SAVINGS Bank (PSBank) bagged the top corporate rating from a Manila-based debt watcher, with its solid loan growth and a stable funding profile supporting the bank’s creditworthiness. The listed lender announced yesterday that it secured a PRS Aaa (corp.) rating from the Philippine Rating Services Corp. (PhilRatings), or the highest corporate credit rating on […] The post PhilRatings gives PSBank top grade appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsOct 18th, 2017

BSP tightens governance standards for banks, other financial institutions

MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) has adopted tighter corporate governance standards for banks and non-banks aimed at promoting pru.....»»

Category: financeSource:  philstarRelated NewsAug 22nd, 2017