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Strong banks sail through shifting tides and currents
Reduced RRR will ease rate cuts’ interest-margin impact, as lower borrowing costs lift loan growth
By Ariz Marcelino and German de la Paz III
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Top Philippine banks remain resilient, forging ahead through shifting tides and currents and showing strong profits and good prospects.
Recent monetary easing by the Bangko Sentral ng Pilipinas (BSP) should help support the banking sector and sustain earnings, keeping the industry’s outlook at overweight.
In October, the country’s biggest non-government-owned banks by assets released third quarter earnings. The results show strength: double-digit profit growth, loans expanding above industry average, and stable asset quality.
BDO Unibank Inc. (BDO) and Metropolitan Bank & Trust Co. (Metrobank) reported net income growth results in line with consensus, while Bank of the Philippine Islands (BPI) exceeded expectations.
Related article: Metrobank posts record income as of September amid robust