HSBC, Deutsche Bank see lower PH growth

By Mayvelin U. Caraballo

Jan 12, 2022 12:27 am

HSBC and Deutsche Bank, two of the world's largest banks, forecast Philippine economic growth to fall short of the government's target this year, citing persistent threats from the Covid-19 pandemic.

Fan Cheuk Wan, Asia managing director and chief investment officer for HSBC Global Private Banking and Wealth, said in a virtual briefing on Tuesday that the banking giant expects the country's gross domestic product (GDP) to grow by 6.2 percent this year.

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