While the Lima Stock Exchange (BVL) may have fallen short of expectations in terms of new issuances in 2012, its overall performance was solid, with the General Index up 5.9% over the previous year. Though market capitalisation and negotiated volumes dropped from 2012 to 2013, most analysts are positive in their outlooks for the near future. Private equity is expected to continue to grow in the...
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Chapter | Capital Markets from The Report: Peru 2014
With a banking penetration rate hovering around 30% and an expanding middle class, Peru represents a solid growth opportunity for the banking industry. Lending activity jumped by 23% in 2012, with much of this coming from a rise in consumer and retail loans. The banking sector is forecast to continue to expand rapidly, with loan growth projected at between 15% and 20% in 2013. While rapid...
While the final cost of Typhoon Yolanda is still being calculated in the Philippines, the impact that the country’s low insurance take-up could have on the national economy is fast becoming apparent.
Chapter | Capital Markets from The Report: Philippines 2014
The Philippine Stock Exchange had the second-best performance among Asian equity markets in 2013. It hit 38 all-time records during the year, broke 6000 for the first time in January 2013, 6500 in Feruary, and 7000 in April. The challenge is now to build on this strong foundation, further developing the systems, institutions, and regulations that will guarantee the market’s continued success...
The Philippines banking sector has strengthened significantly in recent years, tracking general economic trends and benefitting from prudent measures put into place over time to boost capital and improve supervision, corporate governance and transparency. The local institutions that emerged from the late 1990s are stable and more wary of excessive risk and asset-liability imbalances. The...
Chapter | Trade & Investment from The Report: Philippines 2014
For a number of years the Philippines worked hard to lower tariff rates, with the average weighted tariff applied falling from 22.4% in 1989 to a low of 2.6% in 2003. However, rates have begun to creep up again. The Philippines is actively considering a number of liberalisations to better align itself with the more open of its regional peers and to better integrate itself with the global economy...