Banks’ bad debts spiked in Oct to over 2-yr high

Soured loans held by local banks rose to their highest level in more than two years in October, as the start of the Bangko Sentral ng Pilipinas’ (BSP) rate-cutting cycle might have prompted banks to chase higher-yielding — but riskier — consumer credit. The latest data from the BSP showed the gross amount of non-performing
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