By The Financial District
Jul 24, 20211 min
Banks continue to understand the plight of their borrowers amid the pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said, citing resolutions on complaints filed with the central bank, according to a PNA report.
In a virtual briefing Diokno said while requests for debt collection and restructuring of credit card loans accounted for only 3 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.”
“Even with the current difficulties experienced by their clients, concessions given by banks to their clients include waiver or reduction on fees, interest, and penalties; implementing a more favorable payment scheme; providing options, especially for payments made through post-dated checks and auto-debit or auto-deduct arrangements; and granting extensions or adjustments of loan maturity,” he added.