Bank of the Philippine Islands

THREE Philippine banks expect their income and loans to continue growing this year, but slowing consumer demand amid record-high interest rates and inflation ...

Medalla last week said the central bank will focus on managing inflation expectations in its policy review on Feb. “In support of our vision to become the most customer-centric bank in the Philippines, we continue to invest in five priority areas to enhance customer experience. “Inflation will need to be controlled; otherwise, we may continue to see higher interest rates and leverage. “Our expectation for 2023 is that the growth in our retail loan portfolio will accelerate. This brought its profit for the first nine months to P8.56 billion, 77.2% higher from the same period the year prior. Hopefully, oil and supply-side shocks do not return, as this will further put pressure on cost side inflation,” he said. We likewise hope to accelerate growth for the commercial clients,” it said. The share of digital and e-channel transactions also increased, reflecting a shift in customer behavior,” he added. We remain committed to grow our high-yielding consumer loan portfolio which will help rebalance our loan portfolio, while balancing asset quality concerns on this segment,” Mr. “We expect to maintain a low-teens loan growth, both in consumer and corporate segments. (China Bank) sees sustained asset and profitability growth and is looking to focus on its core businesses, cross-selling, cost management, and maximizing their distribution network while expanding their digital services, its Chief Finance Officer Patrick D. Bank of the Philippine Islands (BPI) President and Chief Executive Officer Jose Teodoro K.