MANILA, Philippines — The new law aiming to help banks get rid of their bad loans will cut down the industry’s non-performing loan (NPL) ratio by as much as seven percentage points, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the signing of Republic Act 11523, or the Financial Institutions Strategic Transfer (FIST) Act, last Tuesday would help ease the NPL ratios of banks by about 0.63 to seven percentage…
