
Philippine Credit Card Bad Debts Jump to P68 Billion as Inflation Bites
Non-performing card balances outpaced overall lending growth between March and June, rising 11.8 per cent across commercial bank portfolios.
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Non-performing card balances outpaced overall lending growth between March and June, rising 11.8 per cent across commercial bank portfolios.

A Global Anti-Scam Alliance survey shows only 29 percent of defrauded Filipinos file reports, hampering law enforcement efforts across digital payment networks.

Philippine household consumption growth dropped to 1.9% in the second quarter as 7.2% inflation and higher borrowing costs pinched family budgets.

Seven-month inflows climbed 2.3 percent to $20.4 billion as the central bank maintains a full-year target of $36.6 billion.

The 25-basis-point increase comes despite second-quarter economic growth slowing to 2.3 per cent.

Digital payment methods now account for 64.7 percent of all retail transactions by volume in the Philippines, according to the Bangko Sentral ng Pilipinas. This marks a substantial increase from previous years and exceeds central bank targets.
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