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Bank lending further slowed down in Sept | Inquirer Business

MANILA -The growth in lending by the Philippines’ largest banks slowed down for the sixth straight month to a nearly two-year low of 6.5 percent in September, adding credence to concerns that lukewarm private spending will lead to more subdued economic growth in the fourth quarter. Preliminary data at the Bangko Sentral ng Pilipinas show that the growth in total lending, net of short-term loans to the central bank, continued to lose momentum after reading out at 13.4 percent in September 2022 and 7.2 percent last August. ...

Business Loans | Business Banking | U.S. Bank

Quick loan with an online application ; Conventional financing ; Owner-occupied or investment property ; Government-backed loans ; Essential business asset financing ; PPP loan forgiveness

US banks' profits to shrink as they brace for souring loans

A combination file photo shows Wells Fargo, Citigbank, Morgan Stanley, JPMorgan Chase, Bank of America, JPMorgan, and Goldman Sachs from Reuters archive. REUTERS/File Photo

Metrobank to pay record dividends as 2023 earnings post 29% growth | Inquirer Business

MANILA, Philippines —The Ty family-led Metropolitan Bank & Trust Co. (Metrobank) will pay record dividends of P22.5 billion to stockholders after achieving historic high earnings the past year. Metrobank, the country’s second-largest private bank, reported a significant boost in its net income for 2023, reaching P42.2 billion, which marks a 28.9-percent increase over 2022, a stock exchange filing on Thursday showed. This translated to a return on equity of 12.5 percent, higher than the 10.3 percent recorded in the previous year. ...

Union Bank taking over CitySavings Bank | Inquirer Business

54 percent of CitySavings for about P5.7 billion. AEV, which... CitySavings has a business model that gives us a strategic... into broader civil servant and payroll loans market segments.”

Credit scoring model for small businesses launched | Inquirer Business

The Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (Jica) have jointly launched the Credit Risk Database Scoring Model to help lenders better assess the creditworthiness of small and medium enterprise borrowers, including those without credit history or adequate collateral. According to BSP Governor Felipe Medalla, this latest tool for banks was intended to bridge the funding gap for micro, small and medium enterprises (MSMEs) while enhancing the credit risk management of financial institutions using a data-dri ...

Big US banks balk at new capital rules in Senate hearing | Inquirer Business

NEW YORK -Large US banks railed against new proposed capital requirements at a congressional hearing on Wednesday, joining Senate Republicans in casting the measures as crimping loans to everyday Americans. “This rule will make services so uneconomical, you will likely see two outcomes: many banks will simply stop offering certain products and services, and those that do will have to charge more for them just to make it worth the service,” said JPMorgan Chase Chief Executive Jamie Dimon. ...

High interest rates curb loan growth

Bank lending grew in June but was relatively flat from the previous month as high interest rates tempered demand for consumer and business loans.

PH internet gets boost with $287-M World Bank loan

The new financing—which will carry a concessional rate and better terms for the borrower compared with those that come with commercial loans—will add to the government’s debt stock...

Best Banks For Small Business Loans In October 2024

Loan amount · $10k- $150K ; Interest rate · 10.00- 18.00 · % ; Fastest funding · Not disclosed

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