Banks in the Philippines are expected to continue growing rapidly but profitability faces headwinds, S&P Global Ratings said in a new report.
Overall loan growth is estimated to be between 15 percent and 17 percent in 2017 and 2018 following a 16.5-percent expansion in 2016, S&P said in its “Philippine Banks To Continue To Ride Robust Economic Growth” report released on Wednesday.
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