Tag Archives: bangko sentral

Gibo urges public banks to increase agricultural loans

Senate candidate and former Secretary of Defense Gilbert ‘Gibo’ Teodoro. CONTRIBUTED PHOTO SENATE candidate and former defense chief Gilbert “Gibo” Teodoro wants the two public lenders to increase their support for the agricultural sector. In a statement on Saturday, Teodoro said he wanted to review the policies of the Land …

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BSP sets 4% credit allocation for innovation development – Manila Bulletin

The Bangko Sentral ng Pilipinas (BSP) has published proposed rules to guide banks in allocating at least four percent of their loanable funds to the development of innovation for the benefit of micro, small and medium-sized enterprises (MSMEs) and startups. The BSP in the draft circular stated that the loanable …

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Banks miss 2021 lending quota for land reform and agrarian sectors

PHOTO BY CINDY S. REYES, DEPARTMENT OF AGRICULTURE – PHILIPPINE RICE RESEARCH INSTITUTE PHILIPPINE BANKS failed to meet the minimumcompulsory loans for agriculture and agrarian reform (agri-agra) sectors in 2021, according to the central bank. Lenders disbursed loans worth 851.76 billion pesos at the end of December in these sectors, …

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MSME loan slips fall to 463.13 billion pesos in 2021

MANILA, Philippines — Lending by banks in the Philippines to micro, small, and medium-sized enterprises (MSMEs) fell 3.6 percent to 463.13 billion pesos in 2021 from 480.5 billion pesos in 2020, as the sector has yet to fully recover from the impact of the pandemic, according to the Bangko Sentral …

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Proposed changes to Agri-Agra act are a loophole – FFF

The Free Farmers Group Federation (FFF) has published its analysis and identified ‘gaps’ in either version of the proposed amendments to Republic Act (RA) 10000 or the Agri-Agra Credit Reform Act of 2009 . It comes as Congress prepares to create a bicameral committee to reconcile Senate and House bills …

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Agri-Agra Act Changes to Free Up More Funds

Lawrence Agcaoili – The Filipino Star February 13, 2022 | 00:00 MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) says farmers, fishers and micro, small and medium enterprises (MSMEs) in the agriculture, agribusiness and related sectors should be given a bullet in arm once amendments to the prescribed thresholds …

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Senate Passes Agri-Agra Amendment Bill

A bill to stimulate lending to the agriculture, fisheries and land reform sectors has passed its third and final reading in the Senate. Senate Bill (SB) 2494 or the Strengthening Agriculture, Fisheries, and Rural Development Funding Act of 2022, certified urgent by President Rodrigo R. Duterte, seeks to amend the …

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Villar pushes for amendments to agri-agra law

Paolo Romero – The Filipino Star January 31, 2022 | 00:00 MANILA, Philippines — Senator Cynthia Villar is pushing for changes to the Agri-Agra Credit Reform Act to help expand financing to farmers and fishers as well as micro, small and medium enterprises (MSME) related by allowing banks to extend …

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BSP makes last push for reform measures

With only a few months left in the 18th Congress, the Bangko Sentral ng Pilipinas (BSP) on Friday reiterated its push for pending bills conducive to economic recovery amid the protracted pandemic. Specifically, the BSP was pushing for the adoption of the following measures: the Law on the Protection of …

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Benefits await banks that support “green” projects

Benjamin Diokno Banks that lend to “green” and economic sustainability projects may be granted additional benefits by the Bangko Sentral ng Pilipinas (BSP) in line with the government’s push for sustainable finance. “We are now looking at the potential use of preferential rediscount rates or the provision of higher loan …

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“Magna Carta” for MSMEs producing a “parvi eventus”

Read this in the digital edition of the Manila Times. As reported by the Bangko Sentral ng Pilipinas (BSP) this weekend, Philippine banks again failed to meet their obligation to provide loans to micro, small and medium enterprises (MSMEs) at the end of the third quarter of this year. In …

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Bank loans to MSMEs do not reach the threshold

The Bangko Sentral ng Pilipinas (BSP) said bank loans to micro, small and medium enterprises (MSMEs) still did not meet the mandatory threshold as of September 30, 2021. According to the most recent central bank data, 440.34 billion pesos was set aside for MSME financing during the period, below the …

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Fund for agri-agra loans on the rise

FUNDS for lending to the agriculture and agrarian reform sectors increased by 21.36% at the end of September, but did not reach the level required by law, data from the Bangko Sentral ng Pilipinas (BSP). The banking system had reserved 804.17 billion pesos for the sector as of September 30, …

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Banks miss their loan quotas for agriculture and agrarian sectors

NB FILE PHOTO LENDERS were unable to provide the required credit for the agriculture and agrarian reform (agri-agra) sectors during the period July to September, based on data from the central bank. Banks disbursed loans worth 804.17 billion pesos in the third quarter for the two sectors, according to preliminary …

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The government prepays the P540-B BSP debt

Finance Secretary Carlos Dominguez III has informed the Monetary Council (MB) that the National Government (NG) will reimburse the full amount of its overdue provisional advances of 540 billion pesos to the Bangko Sentral ng Pilipinas (BSP) this week, before January 12. , due date 2022, in addition to reducing …

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Government to repay P540-B loan to BSP and seek lower liquidity support in 2022 │ GMA News Online

The Philippine government is expected to repay the 540 billion pesos it borrowed from Bangko Sentral ng Pilipinas (BSP) in full this week before the Jan. 12, 2022 deadline, the Department of Finance (DOF) said on Wednesday. In a statement, the DOF said Finance Secretary Carlos Dominguez III has informed …

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PHL must stimulate agricultural financing

More than a decade after the promulgation of Republic Law 10,000 or the Agri-Agra Reform Credit Law of 2009, banks are still reluctant to extend credit to the agriculture and food sectors. land reform. The law requires all government and private banking institutions to allocate at least 25 percent of …

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Lenders’ agri-agra compliance remains low

BANKS ‘COMPLIANCE with mandatory credit quotas for the agriculture and land reform sector has shown “no improvement” as loans for these sectors remain limited, a member of the Monetary Council said. V. Bruce J. Tolentino, a member of the Monetary Council of Bangko Sentral ng Pilipinas (BSP), said the central …

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Bank credit is getting back on its feet

Lawrence Agcaoili – The Filipino Star October 30, 2021 | 00h00 Loans disbursed increased 2.7% in September MANILA, Philippines – Credit growth improved for the second consecutive month, increasing 2.7% in September, amid a modest recovery in the overall attitude of Philippine banks to credit and an improved economic outlook …

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Diokno sees “concrete” signs of pH recovery

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said he now sees “concrete” signs of economic recovery from the global COVID-19 pandemic, driven by the acceleration of the vaccination program which is boosting economic activity and employment. Diokno, in a presentation Wednesday at the BSP-Philippine Institute for Development Studies virtual research …

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More and more companies are leading the way towards sustainable businesses – Manila Bulletin

An ASEAN Sustainability Summit (E-Summit) was convened on October 21-22 to address important issues on environmental, social and governance (ESG) principles, as these provide the beacons for the corporate action in response to the challenges posed by the continuing global pandemic. SM Investments Corporation, one of the region’s leading conglomerates, …

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Bank loans to MSMEs fall short of required level

According to the Bangko Sentral ng Pilipinas (BSP), bank lending to micro, small and medium enterprises (MSMEs) remained below the prescribed level in the first half of this year. The latest central bank data showed that 454.84 billion pesos was set aside for MSME financing during the period, below the …

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Agri-agra loans climb at the end of June

BANK loans to the agriculture and land reform sector increased 13.60% at the end of June this year, according to the Bangko Sentral ng Pilipinas (BSP), but have not reached the mandated amount. As of the end of June 2021, the banking system had set aside 789.60 billion pesos for …

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The situation of MSMEs

MICRO, Small and Medium Enterprises (MSMEs) are supposed to be the economic backbone of the Philippines. They make up 99.5% of the country’s business establishments, provide 63% of the jobs for the Filipino workforce, and contribute around 40% of the country’s gross domestic product (GDP). Yet they only receive a …

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No rediscount facility request in August

NB FILE PHOTO The central bank said banks did not use its rediscount facility in August as demand for credit remained weak. The Bangko Sentral ng Pilipinas (BSP) said in a statement on Friday that in the eight months to August, the overall use of the facility was P5.52 million, …

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Banks sanctioned by P859M from 2018 to 2020

Benjamin E. Diokno, Governor of Bangko Sentral ng Philippines – BLOOMBERG THE CENTRAL BANK slapped Fines worth 859 million pesos on Fifinancial institutions from 2018 to 2020, with non-compliance with mandatory credit quotas among the main violations, said the governor of Bangko Sentral ng Pilipinas (BSP), Benjamin E. Diokno on …

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Agri-agra penalties attain P13B in 8 years

Sanctions imposed on banks that failed to satisfy the necessary credit score allocation for agriculture and land reform totaled greater than 13 billion pesos over an eight-year interval, in accordance with a central financial institution official. “We collected round 13.4 billion pesos in agro-agricultural penalties from 2011 to 2018,” Lyn …

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Your central financial institution – Manila Commonplace

“The governor’s reply to this conundrum: simply preserve being optimistic.” The COVID-19 pandemic is above all a well being disaster. That is what Governor Benjamin Diokno of Bangko Sentral ng Pilipinas (BSP) says. But the top of the central financial institution alone has poured more cash into the financial system …

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Solon pushes Senate on Agri-Agra invoice

A invoice that enables banks to increase support to the agricultural sector and make them adjust to the Agri-Agra legislation continues to be pending within the Senate greater than a yr after the Home of Representatives handed the measure, has declared the primary creator of the invoice. Camarines Sur consultant …

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Duterte’s allies drag FIST bill into Lopez loan hearing

Ramon Royandoyan – Philstar.com February 23, 2021 | 5:12 pm MANILA, Philippines – The search for irregularities in loans to the Lopez family, which were sold at a discount by the State Development Bank of the Philippines (DBP), took an interesting turn in the direction of criticism of one of …

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BSP Expands Kinds of Loans Thought of Agri-Agra Compliant

THE BANGKO SENTRAL ng Pilipinas (BSP) additional expanded the kind of loans counted as compliance with the obligatory credit score allowance for agriculture and land reform actions. “That is an interim measure pending the modification of the Regulation of the Republic (RA) 10,000 (Agri-Agra Reform Credit score Regulation of 2009) …

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UnionBank targets mass market and small companies

FACEBOOK / UBP.UNIONBANK.PLAZA UNIONBANK of the Philippines Inc. is seeking to increase its shopper base to incorporate extra micro, small and medium enterprises (MSMEs). Firms got down to digitize their operations amid the coronavirus pandemic. “It is a huge market and we predict this section wants consideration proper now,” stated …

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