Business World In-Depth - July 2020

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The first quarter of 2020 proved to be a challenging time for the country’s universal and commercial banks (UK/Bs) as economic activity was severely limited by the lockdown restrictions set to curb the spread of COVID-19. In this first BusinessWorld In-Depth featuring the complete First Quarterly Banking Report, a special on-demand digital edition, BusinessWorld's data for the first three months showed big banks reporting lower profits, reduced capacity to absorb risky assets, and slower asset growth compared to the same period last year.

In addition to the financial data, this magazine also provides feature articles on the sector with the theme focused on banking in the time of COVID-19. The banner
story discusses banking in the so-called “new normal” that necessitated the use of digital platforms amid lockdown restrictions imposed by the government. The article “Pandemic speeds up shift to digital banking” discusses this further in detail, while another feature looks at assistance provided to micro, small, and medium enterprises amid the pandemic. Rounding the roster of articles for this report include the outlook for financial markets, stock recommendations for listed banks, and a Q&A session with Pag-IBIG Fund.