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Philippines , Thursday 16 April 2026

Cap on credit card charges impacts banks

Published on: Monday 25 April 2022

Cap on credit card charges impacts banks MANILA, Philippines — The country’s largest banks continue to take a hit from the interest rate cap imposed by the Bangko Sentral ng Pilipinas (BSP) on credit card charges for more than a year. Nestor Tan, president and CEO of Sy-led BDO Unibank Inc., said the cap on credit card interest rates imposed in November 2020 were in effect for the full year in 2021. “Asset yields declined given low interest rates and excess liquidity in the system plus...


News source: https://www.msn.com/en-ph/news/national/cap-on-credit-card-charges-impacts-banks/ar-AAWyUjA

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