Empowering MSMEs in Dinagat Island province

 

By Rose de la Cruz

 

Bangko Sentral ng Pilipinas is soon signing a memorandum of agreement with the local officials of the island province of Dinagat to establish the Dinagat Island Credit Surety Fund that would finance cooperatives, capital-short businessmen and micro small and medium enterprises (MSMEs).

 

BSP Monetary Board member Bruce Tolentino is flying to Dinagat to sign the MOA with Provincial Gov. Glenda Ecleo in the presence of stakeholders at the Provincial Guest Center, Capito Compound, Cuarinta, San Jose, Dinagat.

 

Initiated by BSP in August 2008, the Credit Surety Fund Program is a credit…

Read more: Empowering MSMEs in Dinagat Island province

Rural banks on solid footing

 

 

By Rose de la Cruz

 

Just like most of their bigger peers, the commercial banks—rural banks are said to be on solid footing with positive growths in assets, loans, deposits and capital based on the latest data ending March 2018. The industry continues to be profitable and operates with a wide physical network.

 

The industry’s assets expanded by 8.3 percent to P216.7 billion as of end-March 2018, funded by the 6.7 percent growth in deposits which reached P154.8 billion. Capital adequacy ratio stood high at 19.1 percent. Meanwhile, return on equity was solid at 7.1 percent while…

Read more: Rural banks on solid footing

 

 

The Bangko Sentral ng Pilipinas Department of Economic Research projects inflation in August 2018 to settle at around 5.9 percent, with a range of 5.5 – 6.2 percent.

The central forecast implies a slight deceleration of the month-on-month inflation. Higher price of rice and key food items due to weather disturbances and supply disruptions, increase in gasoline and LPG prices, and slight upward adjustment in electricity rates in Meralco-serviced areas contributed to upward price pressures in August.

Meanwhile, lower diesel and kerosene prices as well as modestly appreciated peso could partly temper price pressures this month.

The BSP will remain watchful of economic and financial developments that could affect the inflation outlook and will closely monitor inflation expectations and emergence of further second-round effects ahead of the September 2018 Monetary Board policy meeting.

Read more: Inflation in August to settle at 5.9%

Bank Lending Grows Faster in July

 

 

By Rose de la Cruz



Outstanding loans of commercial banks, net of reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas grew at a slightly faster rate of 19.6 percent in July from 19.1 percent in June.

 

Likewise, the growth in bank lending inclusive of RRPs increased more rapidly at 18.7 percent in July from 17.7 percent (revised) in the previous month. On a month-on-month seasonally adjusted basis, commercial bank loans net of RRPs and loans inclusive of RRPs increased by 1.9 percent and 2.4 percent, respectively. 

Loans for…

Read more: Bank Lending Grows Faster in July

NEDA wants stronger push for exports

 

 

By Rose de la Cruz

 

 

The National Economic and Development Authority wants a stronger and more aggressive push for Philippine exports to help in continuing the country’s strong trade performance recorded in June 2018.

 

The Philippine Statistics Authority (PSA) reported that the country’s total trade grew by 13.5 percent, reaching $14.8 billion in June 2018, driven mainly by imports which grew by 24.2 percent, but tempered by the 0.1-percent decline in exports.

 

“Creating a broader market base for exports through effective trade facilitation and by effectively utilizing existing free trade…

Read more: NEDA wants stronger push for exports

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