Thus said Bangko Sentral ng Pilipinas Governor Benjamin Diokno who noted that, even after absorbing the full impact of the COVID-19 public health crisis, local banks remained capitalized well above the 10 percent minimum requirement of the regulator and the 8 percent international standard.
Most importantly, the central bank chief told The Asset Magazine’s 16th Philippine Summit conducted online that lending activity had turned a corner as it grew 1.3 percent in August from a year ago—the first expansion following eight successive months of declines starting December 2020—while the system-wide nonperforming loan ratio remained “manageable.”FEATURED STORIES
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