Issue of September 6, 2020
     
NEWS
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Small banks boost up MSME lending during COVID crisis
by PNA release

Thrift banks (TBs) and rural and cooperative banks (RCBs) have responded to the call for increased lending to micro, small and medium enterprises (MSMEs) to help the latter cope with the impact of the pandemic.

“We’ve seen improvement in the amount of lending to the MSME sectors, especially coming from thrift banks and rural and cooperative banks,” Bangko Sentral ng Pilipinas Deputy Governor Francisco Dakila said during the virtual briefing of the inter-agency Development Budget Coordination Committee.

He said MSME lending of RCBs accounted for 35 percent of the industry’s total loan portfolio of P151.9 billion as of end-April 2020.

“Top RCBs continue to generate new MSME loans amounting to P783 million during the enhanced community quarantine period,” he added.

Dakila said MSME lending of RCBs increased by 23.3 percent while that of TBs rose by 6.8 percent after the BSP allowed TBs and RCBs’ MSME lending as compliance to the reserve requirement ratio (RRR).

The BSP’s decision was made to ensure that MSMEs will continue to have access to liquidity despite the hardships brought about by the pandemic.

Earlier, BSP Governor Benjamin Diokno said about 88 rural banks availed of the relief measure and extended about P44.2 billion worth of MSME loans, higher compared to the P9.9B extended by 55 banks after the central bank issued Circular 1087 last May 27.

This alternative RRR compliance policy can be availed off by TBs and RCBs until Dec. 30, 2021.

 
 
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DA refocuses remaining 2020 budget to ensure ample food
   
SEC receives ISO certification for its quality mgmt system
   
Investment pledges in RP keep on growing amid crisis
   
75,000 enlisted as online biz
   
DA gives sentinel piglets to help hog raisers recover
   
SSS mobile app covers 22 M transactions from Jan-June
   
Agribusiness, processing seen to be PH’s ‘sunrise’ agri subsector
   
DICT says more firms interested in building of common towers
   
Promoting digital literacy boosts electronic payments
   
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Dairy farming pushed to boost livelihood of locals
   
TESDA launches 3rd batch of Project Silaw in Kapangan
   
70 small businesses in Abra get aid under NSB program
   
DA offers affordable loans to budding entrepreneurs
   
Loans for agrarian reform beneficiaries reach P583 M
   
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BUSINESS
DOT backs sustainable, safe tourism program of Baguio

DA refocuses remaining 2020 budget to ensure ample food

SEC receives ISO certification for its quality mgmt system

Investment pledges in RP keep on growing amid crisis

75,000 enlisted as online biz

DA gives sentinel piglets to help hog raisers recover

SSS mobile app covers 22 M transactions from Jan-June

Agribusiness, processing seen to be PH’s ‘sunrise’ agri subsector

DICT says more firms interested in building of common towers

Promoting digital literacy boosts electronic payments

LGU’s to decide on gym’s opening

Dairy farming pushed to boost livelihood of locals

TESDA launches 3rd batch of Project Silaw in Kapangan

70 small businesses in Abra get aid under NSB program

DA offers affordable loans to budding entrepreneurs

Loans for agrarian reform beneficiaries reach P583 M

Farmers expand prod’n area


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Kings’ College of the Philippines
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Social Security System
Veterans Bank

Albergo Hotel and Residences
Baguio Center Mall
Baguio Water District
C & Triple A Supermart
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John Hay Management Corporation
Mayor Romeo K. Salda
MMS Development Training Center Corporatino
Mother Earth Deli Basket
Philipppine Science High School
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