S&P: Outlook on PH banks stable

Philippine banks are expected benefit from the economy’s good growth prospects but the industry’s increasing exposure to consumer loans could become a concern, Standard and Poor’s (S&P) Ratings Services said.

The debt watcher, in a report, said it expected real gross domestic product (GDP) growth of 5.7 percent for 2016, which will likely again make the Philippines one of the fastest-growing economies in Southeast Asia.