FNBB slashes loan impairments

In its recent results for the period, bank executives noted that gross advances or loans to customers had dropped seven percent to P13.6 billion due to the maintenance of tight credit risk assessment amid the prevailing economic uncertainty.

“The bank continues to apply a prudent approach to lending to ensure responsible and manageable consumer exposure. “This resulted in a decline in gross customer advances by seven percent, while market gross advances increased by four percent,” directors said.