The Securities and Exchange Commission (SEC) has approved five corporations that will acquire the bad loans and non-performing assets (NPAs) of financial institutions affected by the pandemic-induced crisis, the Department of Finance (DOF) said. In a statement, the DOF said that five Financial I
FIVE asset management companies have been set up since the enactment of the law almost a year ago allowing the creation of these entities to enable banks and other credit-granting institutions to offload bad loans and non-performing assets they have accumulated during the pandemic. The Securities and Exchange Commission (SEC)…