Philippine Bank Lending Surges to 4-Month High, Fueled by Business Loans
Philippine bank lending saw its fastest growth in four months in September, driven by robust lending to businesses despite rising interest rates and inflation. This indicates resilience in the domestic economy and active corporate engagement.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- PAGCOR-linked sites took bets from users outside Philippines, CoA finds
The Philippine Commission on Audit (CoA) found that online gaming sites accredited by PAGCOR accepted bets from outside the Philippines, violating regulations. Numerous financial discrepancies were also identified, leading to a qualified opinion on PAGCOR's financial statements.
- Chinabank Profit Up 12% to P22.6B on Strong Lending
China Banking Corp. (Chinabank) reported a 12% year-on-year increase in net profit to P22.6 billion for January to September, driven by robust lending activity. This growth underscores the bank's strong performance in the period.
- High Gold Prices Nearly Double OceanaGold Philippines' Profit
OceanaGold Philippines Inc. (OGP) reported a 95% surge in net profit to $95.6 million from January to September, driven by higher metal prices, despite lower sales and production. This highlights the impact of commodity price volatility on the Philippine mining sector.
- DM Wenceslao's 9-Month Profit Drops 11% on Weaker Property Sales
DM Wenceslao and Associates Inc. (DMW), a major Philippine property developer, reported an 11% year-on-year decline in net profit for the first nine months of the year, falling to P1.24 billion due to weaker property sales and increased operating expenses.