Bank lending, domestic liquidity up in June
Bank lending, domestic liquidity up in June; BSP lifts moratorium on new digital banking licenses
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00:00The Monetary Board of the Banko Sentral ng Pilipinas has approved the lifting of the moratorium on the grant of new digital bank licenses in the country.
00:09These and other stories in tonight's Business News Wrap-Up by Joms Balagad.
00:16The Banko Sentral ng Pilipinas reported the outstanding loans of universal and commercial banks,
00:22excluding those placed in the Central Bank's Reserve Repurchase Facility, rose a little over 10.% in June.
00:29Outstanding loans issued by universal and commercial banks amounted to Php 12.9 trillion from Php 12.7 trillion in May this year.
00:38The domestic liquidity expanded by 6.6% to Php 17.5 trillion from Php 17.39 trillion in May.
00:47Domestic loans went up 10.5% from 10.7% in the previous month.
00:54The Banko Sentral ng Pilipinas has lifted the moratorium on new digital banking licenses effective January 1, 2025.
01:02This decision allows for up to 10 digital banks to operate in the country with four new licenses for either new or converting banks.
01:10The BSP said new applicants will undergo a rigorous licensing process that looks into their value proposition, business models, and resource capabilities.
01:20Joms Balagad from the National TV Network for a new and better Philippines.