The thrift bank subsidiary of the Bank of the Philippine Islands, BPI Family Savings Bank, is going to roll out a credit facility that will cater to the micro and small enterprises. This plan of BPI Family to increase its loan exposure will be done through a customized business packaged which it will roll out [...]

Local banks have agreed to help raise and lend the Panay Energy Development Corp. (PEDC) P14-billion for its construction of a 164-megawatt coal-fired power plant in La Paz, Iloilo City. The Panay Energy is owned by George Ty’s Metrobank group, and the loans were arranged by First Metro Investment Corp. (FMIC), the investment banking arm [...]

To allow our farmers more access to bank credit, to further address their financing needs, the Bangko Sentral ng Pilipinas (BSP) has further eased its documentary requirements and its application procedures. This would allow banks to provide micro-agri loans to farmers.
The micro-agri loans which amount to less P150,000 would be exempted from the requirement of [...]

The San Miguel Corp. (SMC), the country with most diversified conglomerate, has been extended a P2 billion loan by the state-owned Land Bank of the Philippines (Landbank). The loan would be used by SMC to finance its expansion program.

The Government Service Insurance System (GSIS) reported that they have already granted up to P2 billion worth of emergency loans from government employees affected by storm Ondoy. The government pension fund said that out of 130,000 emergency loan applications, 103 or a total of P2 billion have already been processed as of October 12.
GSIS started [...]

Small Business Corp. (SB Corp.), the lead convenor for small and medium enterprises (SME) Unified Lending Opportunities for National Growth (Sulong), said that the lending to micro, small and medium enterprises (MSMEs) has reached P170.3 billion in the past five years through the various government agencies. The group said that they alone have extended total [...]

The Bangko Sentral ng Pilipinas (BSP) said it is wary of loans being at risk of ending up in default as an effect of the devastation brought about by tropical storm Ondoy and typhoon Pepeng. The concern was raised by  BSP officer-in-charge Nestor Espenilla Jr. who said that the estimated retail loan affected in calamity [...]

As an assistance for our countrymen who were affected by tropical storm Ondoy and typhoon Pepeng, the Rural Bankers’ Association of the Philippines (RBAP) is pushing its member-banks to ease the terms of the agricultural loans extended to farmers in affected areas.

President Gloria Macapagal-Arroyo has approved the one-year suspension of payments for salary and housing loans of members of the Social Security Systems (SSS) and Government Service Insurance System (GSIS), according to her economic adviser. This is in line with helping the victims of Tropical Storm Ondoy and Typhoon Pepeng.

To help the members affected by the calamity brought by tropical storm Ondoy, the Social Security System (SSS) has lowered its interest rate for loans on home repairs and improvements. The agency said loans for home repairs and home improvements now have an interest rate of 9%, 4 notch lower than the previous 13% rate. [...]

To help victims of tropical storm Ondoy, the Government Service Insurance System (GSIS) said it is allotting P5 billion in emergency loans. The announcement was made by GSIS president Winston F. Garcia on Tuesday. The GSIS said member could apply for the emergency loans starting October 1.

Last week, the Union Bank of the Philippines (Unionbank) also went into capital-raising effort as it started offering unsecure subordinated notes to investors to beef up its capital by P5 billion, in order to lift is capital adequacy ratio (CAR) to a more comfortable level that would allow it to absorb more risk through aggressive [...]

One of the most successful microfinance institutions (MFI) in the country, CARD Inc., has issued successfully P500 million worth of corporate notes to six major financial institutions. The notes, carrying a five-year term, are a fixed-rate funding facility with an interest rate of 8 to 8.3 percent.

The Asian Development Bank (ADB) approved the Philippines’ application for a $500-million loan and the funds are expected to be released next month.
The loan will be the first to be released under the ADB’s Countercyclical Support Facility (CSF), which was established in June to help developing members boost spending to counter the effects of the [...]

The Subic Bay Metropolitan Authority (SBMA) has given the Subic Bay Integrated Fisheries and Aquatic Resource Management Council (SB-IFARMC) a P4 million fund for its various activities which are meant to balance the industrial thrust of Subic Bay port. SB-IFARMC is a group formed to promote the sustainable development of the bay of Subic.

To boost its lending facilities, the Social Security System (SSS) reduced its interest rates on its social and business loans. Romulo Neri, SSS president and Chief Executive officer, said that the adjustment took effect last July 1, following the downward trend in banks’ lending rates.

The Monetary Board of Bangko Sentral ng Pilipinas (BSP) has approved the $75 million loan by the Globe Telecom. The Ayala-owned company said the loan would be used to pave the way for the company’s network expansion program.
BSP said Globe would acquire three separate loans from Citibank and two European development financial institutions. According to [...]

“Joining loan syndications of selected large corporations complements our growing consumer loans portfolio. And we believe in PLDT’s commitment to further develop the telecommunications landscape in the country,” PSBank president Pascual Garcia III said.
This statement was issued by the Garcia after the Philippine Savings Bank (PSBank) placed P500 million in Philippine Long Distance Telephone Co.’s [...]

M Lhuillier pawnshop has successfully re-branded itself to being ‘more than just a pawnshop,’ as they pioneered domestic money remittance in the Philippines. And now they, have reached another milestone by partnering with MoneyGram International.
With this partnership, Lhuillier will be able to provide money transfer services on a dollar-to-dollar basis, eliminating currency exchange costs in [...]

Car sales this year increases in spite of soaring prices of diesels and fuels. Although recent months sales have declined, the car sales in the early part of the year created more than just a cushion that causes still a net increase from prior year’s sales. The Chamber of Automotive Manufacturers of the Philippines [...]