Localized lockdown, faster vaccine rollout to sustain credit growth – BSPMANILA, Philippines — The gradual easing of lockdown measures and the accelerated COVID-19 vaccine rollout will help sustain credit growth in the coming months, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. Preliminary data from the BSP showed bank lending went up by 1.4 percent to P10.9 trillion in August, ending eight straight months of contraction. “As economic conditions improve, the BSP regulatory flexibilities will allow banks to lend more to productive enterprises and priority projects,” Diokno said. The BSP chief said banks could apply the separate SBL for project finance exposures, including those to water concessionaires, subject to compliance with certain conditions. To be eligible for the separate SBL for project finance, bank exposures must meet the following conditions under Section 362 of the Manual of Regulations for Banks.

Source: Philippine Star October 08, 2021 15:56 UTC