S&P sees continued growth in PH banks

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CREDIT rater S&P Global Ratings said banks in the Philippines would continue to grow rapidly over the next two years, thanks to strong solid economic growth, corporate profitability, low interest rates, and a drop in non-performing loans.

Banks’ overall loan growth is estimated between 15 percent and 17 percent in 2017 and 2018, after a 16.5 percent expansion in 2016, S&P said in a report titled “Philippine Banks To Continue To Ride Robust Economic Growth” published on Wednesday.

“We believe that the credit cycle in the Philippines has further to run,” it said. MAYVELIN U. CARABALLO

 

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