RIZAL Commercial Banking Corp. (RCBC) expects its loans to small businesses to increase by at least 9% this year as the economy continues to recover from the downturn caused by the coronavirus pandemic.
The bank said in a statement on Tuesday that it sees its small and medium enterprises (SME) loan portfolio growing to at least P101.5 billion this year from P93.4 billion in 2021 “on the back of global economic recovery and the stable outlook for the Philippine banking sector.”
The lender is “optimistic” that the Bangko Sentral ng Pilipinas’ (BSP) accommodative policy “will help safeguard the momentum of economic recovery, while it proceeds in creating its exit strategy from its current liquidity stance,” RCBC SME Banking Group Head Maria Angela V. Tinio said.
https://www.bworldonline.com/banking-finance/2022/05/18/449005/rcbc-sees-sme-loans-growing-by-at-least-9-this-year/#google_vignette