China Bank bucks downtrend, posts 27% profit growth in Q2

SM group-led China Banking Corp. grew its second quarter net profit by 27 percent year-on-year to P3 billion, bucking the downturn seen by other banking peers amid constraints arising from the coronavirus pandemic. This brought six-month net profit to P5.2 billion, up by 24 percent year-on-year, even as the bank jacked up provisions for probable […]

$1B in new World Bank loans to PH up for OK in Sept

The World Bank will extend three more loans worth about $1 billion to the Philippines by September to help in COVID-19 response and recovery efforts, the Department of Finance (DOF) said on Friday. In a statement, the DOF said the concessional finan­cing extended by...

Gov’t guarantees P37.5B in bank loans to SMEs

In its bid to make available loans to small businesses badly hit by the COVID-19 crisis, the state-run Philippine Guarantee Corp. (Philguarantee) has green-lit P37.5 billion in credit guarantees as of end-June. Philguarantee said the total credit guarantee facilities...