CIBI News

S&P Global Ratings upgraded its assessment amid reduced credit risk

S&P Global Ratings upgraded its assessment on the country’s banking industry amid reduced credit risk with the establishment of credit bureaus as well as improving credit fundamentals.

In its latest Philippine banking sector review, S&P revised its Banking Industry Country Risk Assessment (BICRA) on the Philippines, a notch higher to group 6 from group 7.

“In our view, the credit risk facing Philippine banks has reduced with the establishment of credit bureaus and banks’ improving underwriting practices in the consumer loans segment,” S&P said.

Tags: CIBI News

Related Articles

Menu