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UBS sees 2-digit credit growth for Phl banks
March 02, 2024
|The Philippine Star
Banks operating in the Philippines are expected to post a double-digit credit growth this year on the back of robust economic expansion, according to banking giant UBS.
In a virtual press conference, Grace Lim, economist for Asia at UBS, said the bank has raised its gross domestic product (GDP) growth forecast for the Philippines to 5.7 percent from the original target of 5.3 percent for this year.
"We are actually forecasting double-digit credit growth, slightly above 10 percent for the full year. Increasing GDP growth as well as solid nominal GDP growth is the reason," Lim said.
هذه القصة من طبعة March 02, 2024 من The Philippine Star.
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