Remittances likely to grow 5% in Feb – DBS

FOLLOWING a slump in January, growth in cash remittances from overseas Filipino workers (OFWs) likely bounced back in February although not as fast as from a year ago, a Singapore-based bank said.

Singaporean bank DBS said the market consensus is for a rebound in OFW cash remittances in February after the slowest growth in six years was recorded in January.