Check loan quality, thrift banks toldhome/Business/Top Business/Check loan quality, thrift banks toldWith soured loans of thrift banks accelerating in the first nine months this year, a senior official of the Bangko Sentral ng Pilipinas (BSP) has called on members of the industry to closely monitor their loan portfolio. The industry posted a slight uptick in the non-performing loans (NPL) ratio from 4.9 percent at end-September 2017 to 5.2 percent in end-September 2018, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi Fonacier. These indicators, Fonacier said, has allowed the thrift banking industry to be quite bullish on its outlook on the economy and its own operations. Citing results of the BSP’s inaugural Banking Sector Outlook Survey, she noted that out of 54 thrift banks, 75 percent expect the country’s economy to grow between five to seven percent in the next two years. She added that 61 percent of thrift banks, on the other hand, look forward to a strong and stable banking system for the next two years.

Source: Manila Times November 13, 2018 16:18 UTC