. BSP: Borrower-friendly loan reports to start on Q1 2025

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Transcript

00:00Banco Central ng Pilipinas will require banks to submit quarterly and annual reports on the

00:05Standard Business Loan Application Form, or SBLAF, starting 2025. The SBLAF was introduced in 2023

00:13to simplify loan applications for MSMEs and improve access to credit. According to BSP

00:19Memorandum No. M-2024-041, banks and other financial entities must submit these reports

00:26electronically beginning March of 2025 for quarterly reports and December 2025 for annual

00:32reports. This applies to all BSP supervised entities. The SBLAF was developed with input

00:38from various industry groups and government agencies, including the MSME Development Council,

00:44Banking Associations, and the Department of Trade and Industry, or DTI. The SBLAF aims to improve

00:50risk assessments, speed up loan processing, and encourage digital loan applications, benefiting

00:55MSMEs, and enhancing credit data consistency.

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