Daily News

For better credit risk management, banks should adopt data analytics

Amid economic uncertainties courtesy of state response to the coronavirus disease 2019 (Covid-19) pandemic, the banking industry is advised to improve its credit risk management through data analytics. Audit firm Isla Lipana & Co. stated in a study that banks have exposures in vulnerable sectors during the pandemic that has been causing major economic downturn. Among them are retail and wholesale and manufacturing industries, which have combined outstanding loans of P2.3 trillion as of end-December 2019.