Lenders drive higher consumer spending in India with easy credit

SOME OF India’s top lenders and shadow finance companies are helping fuel demand among consumers wanting to splurge on everything from clothes to two-wheelers and homes, offering hopes of a consumption-driven recovery in Asia’s third-largest economy. Businesses are expecting sales during Diwali — the Hindu festival of lights — will pick up to levels seen […]

Bank lending growth fastest in 11 months

By Jenina P. Ibañez, Reporter   Bank lending rose 2.7% in September to mark the second straight month of growth, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.  Outstanding loans issued by big banks increased 2.7% to P9.25 trillion in September, after growing 1.3% year on year in August. It had previously declined for eight straight months.  The growth […]

AUB expects improved appetite for home loans

MORE BORROWERS are likely to take out residential home loans once the economy improves, Asia United Bank Corp. (AUB) officials said. “We are optimistic that the real estate industry will be among the sectors that will bounce back fastest once the economy recovers, which bodes well for consumer appetite for home loans,” AUB Assistant Vice-President […]

Bank lending seen to improve on easy policy, economy’s reopening 

THE BANGKO SENTRAL ng Pilipinas (BSP) expects lending to improve gradually, with bad debt seen to remain low on the back of banks’ prudent standards.  “Credit activity is expected to improve in the coming months amid an accommodative monetary policy and the national government’s accelerated vaccination program and the implementation of granular lockdowns in the […]

Loans extended by 89 banks to MSMEs reach P175.6B as of April

MORE banks have extended loans to micro, small and medium enterprises (MSMEs) in compliance with reserve requirements as the Bangko Sentral ng Pilipinas (BSP) continues to provide regulatory relief measures amid the lingering pandemic. Jovelyn Hao, manager at BSP Technology Risk and Innovation Supervision Department, said loans provided by 89 banks to MSMEs reached P175.6 […]

Lenders vow to support MSMEs to boost recovery

BANKING GROUPS on Tuesday vowed to lend more to small businesses struggling amid a coronavirus pandemic. “The Bankers Association of the Philippines (BAP), together with its members will continue to assist micro-, small- and medium-sized enterprises (MSMEs) with their financing needs — whether through cash management services for their operations or loans that are needed for […]

LANDBANK OK’s P20 billion in loans for firms affected by crisis

LAND BANK of the Philippines (LANDBANK) has approved P20.07 billion in loans for firms, micro, small and medium enterprises (MSMEs) and cooperatives affected by the coronavirus disease (COVID-19) pandemic as of April. The bank said in a statement that loans released through its I-RESCUE (Interim Rehabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19) lending […]

VCREDIT New Registered Users Growth Against Trend, First Payment Delinquency Ratio Reached the Best Historical Record

HONG KONG, Mar 25, 2021 – (ACN Newswire via SEAPRWire.com) – VCREDIT Holdings Limited (“VCREDIT” or the “Group”; stock code: 2003.HK), a leading independent online consumer financial service provider in China, is pleased to announce its audited consolidated annual results for the 12 months ended 31 December 2020 (the “Year”). During the Year, the Group’s […]

Release rate for small business assistance loans less than 20% by end of 2020

LOANS released under the government’s assistance program for small businesses have topped P2 billion to date, or under 20% of the program’s funding. The Department of Trade and Industry’s (DTI) Small Business Corp. (SB Corp.) was allocated P10 billion for lending to micro-, small-, and medium-sized enterprises under Republic Act No. 11494, the second stimulus […]