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Loan rehab okay with banks

Republika

The Bangko Sentral ng Pilipinas (BSP) said banks continue to understand the plight of their borrowers amid the pandemic.

BSP Governor Benjamin Diokno said while requests for debt collection and restructuring of credit card loans accounted for only three percent of the nearly 12,000 consumer complaints in the first half of the year, almost one-third, or 31 percent, “were resolved in favor of the consumer.”


He said 32 percent of the total “are still for evaluation and coordination with the clients while 21 percent are still awaiting action or reply from the concerned financial institutions.”


Complaints that were not resolved in favor of the consumers were about 13 percent, he added.


Diokno said these numbers show that banks and the borrowers “do their direct coordination, (and) find common ground in negotiating their obligations.”


He said banks are “largely open for consideration.”


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