2XVI
PHILIPPINE NATIONAL BANK, Petitioner, v. THE HON. COURT OF APPEALS and
AMBROSIO PADILLA, Respondents. G.R. No. 88880. April 30, 1991.
DOCTRINE:
Removal of Usury Law Ceiling on interest rates does not authorize banks to unilaterally and
successively increase interest rates.
FACTS:
Ambrosio Padilla, private respondents, was granted by petitioner Philippine National Bank, a
credit line, secured by a real estate mortgage, for a term of 2 years, with 18% interest per annum.
Private respondent ex
2XVI
PHILIPPINE NATIONAL BANK, Petitioner, v. THE HON. COURT OF APPEALS and
AMBROSIO PADILLA, Respondents. G.R. No. 88880. April 30, 1991.
DOCTRINE:
Removal of Usury Law Ceiling on interest rates does not authorize banks to unilaterally and
successively increase interest rates.
FACTS:
Ambrosio Padilla, private respondents, was granted by petitioner Philippine National Bank, a
credit line, secured by a real estate mortgage, for a term of 2 years, with 18% interest per annum.
Private respondent ex
2XVI
PHILIPPINE NATIONAL BANK, Petitioner, v. THE HON. COURT OF APPEALS and
AMBROSIO PADILLA, Respondents. G.R. No. 88880. April 30, 1991.
DOCTRINE:
Removal of Usury Law Ceiling on interest rates does not authorize banks to unilaterally and
successively increase interest rates.
FACTS:
Ambrosio Padilla, private respondents, was granted by petitioner Philippine National Bank, a
credit line, secured by a real estate mortgage, for a term of 2 years, with 18% interest per annum.
Private respondent ex