FSCC: PHL on right path, but risk of ‘shocks’ there
ECONOMIC managers in the country affirmed on Wednesday that the economy is on the path of recovery, but…
ECs told to pay overdue power bills
The Power Sector Assets and Liabilities Management Corp. (PSALM) has issued final warnings to two electric cooperatives (ECs)…
BOP posts $312-million gap in June, brings H1 deficit near $2-billion mark
THE Philippine economy continued to bleed dollars in June this year, with its cumulative Balance of Payments (BOP)…
IMF cuts growth forecast for ASEAN-5 from 4.9% to 4.3%
THE International Monetary Fund (IMF) slashed its growth forecast for the region, citing a widening gap between advanced…
Co-ops’ credit reporting to be digitized by firms
MANILA and DAVAO CITY–TECHNOLOGY firm TransUnion Information Solutions Inc. announced having entered into an agreement with 1 Cooperative…
BPI posts highest quarterly income amid drop in loans
THE Bank of the Philippine Islands (BPI) reported a double-digit growth in its net income in the second…
Bank touts award for method of handling ops during crisis
SECURITY Bank Corp. (SBC) has been named the Philippines’ Best Bank by a London-based financial magazine “for the…
BSP poll: PHL bankers subdued on economy, but see their sector faring well in 2021
LOCAL lenders see the Philippine economy underperforming against the government’s target range for the year as the lingering…
Credit growth seen to rebound
INTERNATIONAL credit watcher Moody’s Investor Service said the country’s credit growth is headed for a rebound this year,…
Despite disruptions, insurance is resilient
THE insurance industry showed resilience in 2020 amid the disrupted operating environment that stemmed from restrictions to curb…
Peso value ‘currency crash’ an error of platform’s source feed, BSP governor clarifies
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno clarified that the sudden “currency crash” in the Philippine peso…
BTr awards ₧35-billion T-bonds amid improving market demand
The Bureau of the Treasury (BTr) fully awarded fresh 10-year Treasury bonds (T-bonds) worth P35 billion in its…
Lender sees borrower uptick as Pinoys start buying more
LOCAL consumer financing company Home Credit expects loans to pick up in the remaining months of the year…
Diokno: Deal only with certified operators of payments systems
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno urged the public to only transact with registered operators…
‘Good jabs drive, key to rating prospects’
PASSAGE of the Bayanihan to Arise as One Act or Bayanihan 3 will not improve the country’s rating…
Finex supports financial consumer protection bill
THE Financial Executives Institute of the Philippines (Finex) released a statement over the weekend, calling for the “immediate…
‘Local context to guide monetary policy moves’
THE Bangko Sentral ng Pilipinas (BSP) should not be expected to move its monetary policy levers solely because…
Standard Chartered cuts growth forecast by 2.5%
THE Philippine economy is expected to perform lackluster this year, as the Duterte administration is unlikely to meet…
BSP plans to tap rural banks for financial line to MSMEs
THE Bangko Sentral ng Pilipinas (BSP) is working on a framework that will improve rural banks’ ability to…
‘Fitch outlook downgrade is a useful heads up’
THE recent outlook downgrade on the Philippines’s sovereign rating from international credit watcher Fitch Ratings is a “useful…
Remittances grow double-digit in May
FILIPINO migrant workers continued to send home more money in May this year, sustaining the rise of total…
Amid Fitch’s negative outlook, government upbeat
FOLLOWING Fitch Ratings’ latest move to revise its outlook on the Philippines to negative on Monday, the government’s…
June GIR down by $450 million but ‘adequate’
THE Bangko Sentral ng Pilipinas (BSP) reported on Tuesday that the country’s dollar defenses declined in June this…
FDI soar 114% in April on better prospects
LONG-TERM investments placed by international players in the Philippines continued to soar in April this year, indicating sustained…
Fitch revises PHL’s outlook to negative
INTERNATIONAL credit watcher Fitch Ratings revised its outlook on the Philippines’ current rating, citing the strong impact of…
Central banks backing more green bond issuances
CENTRAL banks in the region are pushing for sustainable investing, particularly through the issuances of so-called green bonds…
Credit registry hikes fee for report on borrowers
THE Credit Information Corp. (CIC) announced it has issued a new pricing scheme for financial institutions using its…
More OFWs borrowing to build business–LandBank
STATE-owned lender Land Bank of the Philippines Inc. said Filipino migrant workers are increasingly tapping the bank’s overseas…
FSCC to aid fight vs systemic risks–BSP
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the institutionalization of the Financial Stability Coordination Council (FSCC),…
Downside risk to mobile banking growth cited by Fitch
INTERNATIONAL think tank Fitch Solutions Inc. said mobile banking in the Philippines has gained momentum recently and is…
Government shift to digital streams increasing
THE Bangko Sentral ng Pilipinas (BSP) reported on Thursday that the government is increasingly shifting to digital streams…
BSP cites 3 terms for stimulus unwinding
THE economy must meet three criteria before the country’s central monetary authority decides to pull back its aggressive…
BPI: Above 4% inflation, dollar defense dent seen
GROWTH in consumer prices is still expected to overshoot the government’s target range for this year due to…
Government policies touted for slowing inflation
FOOD prices will continue to stabilize in the coming months due to policies of the Duterte administration, the…
Poll: Only wealthy Pinoys aware of environmentally-sound assets
FILIPINO investors are looking more into sustainable options in their investment choices but the consciousness for environmentally-sound assets…
Overseas Filipino Bank cites expanded reach
THE Overseas Filipino Bank (OFBank) announced that it is now serving clients from 113 countries and territories a…
‘PHL’s dip in new Covid cases bucks trend’
AS nations in Southeast Asia face threats of delayed recovery due to surges in Covid-19 cases, Moody’s Analytics…
Repay loans at convenience stores? PSBank’s tie-up with ECPay makes it possible
Philippine Savings Bank (PSBank) announced that it has inked a new partnership with Electronic Commerce Payments Inc. (ECPay)…
LandBank ‘more than capable’ to handle merger with UCPB
THE slated merger between Land Bank of the Philippines (LandBank) and United Coconut Planters Bank (UCPB) will result…
BSP poll: Business, consumers have mixed views on PHL economy in next few months
Business and consumers in the country shared mixed views on how the economy will fare in the coming…
PHL’s Q1 net liability position improves
THE Bangko Sentral ng Pilipinas (BSP) reported that the Philippines registered improvements in its liability position in the…
PMI back to growth territory in June
THE Philippine manufacturing sector climbed back to growth territory in June, after restrictions on travel and movement were…
‘Whole-of-government’ tack needed to exit FATF grey list–BSP
THE Philippines needs a “whole-of-government” approach to secure its delisting from the Financial Action Task Force’s (FATF) so-called…
Downsides cited in LandBank, UCPB merger
INTERNATIONAL credit watcher Fitch Ratings Inc. warned last Thursday that the slated merger between Land Bank of the…
‘BSP to be active in further enhancing capital markets’
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expressed confidence that the economic disruptions caused by the…
ING sees bank lending contraction until December
BANK lending in the country is expected to remain in the contraction territory up until the last three…
Bank lending decline finally slows in May
THE free fall of bank lending finally slowed down in May this year, after 12 consecutive months of…
Diokno sees inflation easing down in June
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno believes inflation will start showing signs of slowing down in…
AUB: Low interest rates to lift AUM
Asia United Bank (AUB) has expressed confidence that the assets under management (AUM) of its trust business will…
Dollar loans slid further in Q1–BSP
THE Bangko Sentral ng Pilipinas (BSP) reported on Wednesday that dollar loans extended by local banks’ Foreign Currency…
PHL issues $3-billion bonds, draws good ratings
THE Philippines borrowed $3 billion (about P145.7 billion) through its successful issuance of dual-tranche dollar-denominated global bonds. The…
‘Landbank-UCPB union helps agri sector’
THE agricultural sector is expected to be the ultimate beneficiary of the slated merger of state-run banks Land…
PHL could exit FATF gray list before 2023
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Monday the Philippines will likely be taken out…
Diokno named co-chair of Asian finance group
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno will serve as co-chair of the Regional Consultative Group for…
SB Finance inks lending agreement with Lazada
SB Finance Corp., Security Bank’s financing arm, announced that it has partnered with e-commerce giant Lazada for a…
Residential property prices down in Q1 on low demand
THE Bangko Sentral ng Pilipinas (BSP) said residential property prices declined in the country in the first three…
Citi PH named Best International Bank
HONG KONG-BASED financial publishing firm FinanceAsia recognized Citi Philippines as the Best International Bank for the 23rd straight…
PNB inks partnership with US-based property firm
THE Philippine National Bank (PNB) announced that it has signed an agreement with New Jersey-based Alexander Anderson Real Estate…
BSP keeps rates low to support economy
THE Bangko Sentral ng Pilipinas (BSP) announced on Thursday that it has decided to maintain its monetary policy…
SB Finance Corp. unveils new car title loan program
SECURITY Bank Corporation’s consumer finance arm SB Finance Corporation (SBF) launched a new car title loan program that…
BOP in deficit anew, bleeds $1.4 billion in May 2021
THE Philippines’s balance of payments (BOP) position went back to bleeding dollars in May after a one-month surplus…
BSP seen to keep record low rates at MB meeting
THE Bangko Sentral ng Pilipinas (BSP) is likely to hold on to their low rates throughout the year,…
Execs of UnionBank bag awards from NPC
Key officials of the Union Bank of the Philippines were recognized for their efforts to protect the data…
EastWest extends free offer
East West Banking Corp. announced last Tuesday the extension of its free InstaPay service until the end of…
BSP seen to keep key rates at record lows
INTERNATIONAL think tank Moody’s Analytics said the Bangko Sentral ng Pilipinas (BSP) is likely to keep its rates…
Magazine hails BDO subsidiary as best asset manager
REGIONAL financial publisher Asset Publishing and Research (APR) Ltd. has awarded BDO Unibank Trust and Investments Group (TIG)…
BSP to FIs: Go into sustainable finance
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has urged local financial institutions to go into sustainable finance…
Standard Chartered awarded ‘Best Custodian’ bank in PHL
THE Standard Chartered Bank (SCB) was awarded as the Best Sub-Custodian Bank in the Philippines for the third…
BSP issues rules for ‘Open Finance’ in digitization push
THE Bangko Sentral ng Pilipinas (BSP) has announced over the weekend that it has established the guidelines for…
BSP: Liquidity infusion of P2.2T will prevent economic scarring
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno reported that the Central Bank has infused a total…
IMF cuts PHL growth projection to 5.4%
THE International Monetary Fund (IMF) slashed its growth projection for the Philippines on Wednesday, citing slow recovery in…
OFW in action: April remittances hit $2.3 billion
FILIPINO migrant workers are starting to make up for the decline in their remittances at the peak of…
BSP ready to use rate hike tool vs inflation, says BSP’s Diokno
THE Bangko Sentral ng Pilipinas (BSP) is likely to take a “preemptive” stance should inflationary pressures start to…
BPI: Majority of new clients are under 30
THE Bank of the Philippine Islands (BPI) said majority of its newly opened accounts during height of the…
‘Return to ‘19 GDP level only in late 2022’
THE members of the Bangko Sentral ng Pilipinas’ (BSP) monetary board are expecting the country’s real gross domestic…
BSP: March FDI surge by 139.5% to hit $808 million
LONG-TERM investments placed by international players in the Philippines soared in March this year as global vaccination programs…
Banks ‘too big to fail’ stable, BSP stress test shows
FINANCIAL institutions in the country that are deemed “too big to fail” are stable based on the Bangko…
Central Bank studies wage dynamics, inflation impact
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno told reporters they are monitoring wage dynamics in the country…
BSP eyeing sale, joint venture for mint in QC
BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Wednesday bared plans for the BSP Security Plant Complex…
AKPI secures revolving credit facility from DBP
The Development Bank of the Philippines (DBP) announced that it has granted a P750-million revolving credit line to…
UNObank creator gets digital banking license
THE Bangko Sentral ng Pilipinas (BSP) granted a digital banking license to Singapore-based financial technology (fintech) firm DigibankASIA…
SG’s local fintech business secures digital bank license
THE local operations of Singapore-based Tonik Financial Pte. Ltd. has secured a digital bank license from the Bangko…
‘Inflation plateau may give BSP room on rates’
THE recent plateau in the country’s inflation numbers could free up some space for the Bangko Sentral ng…
Pag-IBIG reports record-high home loans in first four months of 2021
While banks are growing averse to disbursing loans due to the pandemic, the Philippines Home Development Mutual Fund…
Inflation steady at 4.5% for 3rd consecutive month – PSA
THE country’s inflation rate was steady at 4.5 percent for the third consecutive month, according to the Philippine…
PHL banks’ operating environment among ‘challenging’ in Asia
FITCH Ratings has identified the Philippine economy as one of the most challenging operating environments for banks among…
BSP to launch new property price index
The Bangko Sentral ng Pilipinas (BSP) announced that it is targeting to release a commercial property price index,…
Pandemic loans swell govt debt to P10.991 trillion
THE national government’s (NG) total outstanding debt continued to swell to a fresh record-high in April this year,…
BSP hikes net open FX limit as demand for dollar spikes
BANGKO Sentral ng Pilipinas Governor Benjamin E. Diokno announced on Thursday that they are increasing the net open…
PNB launches digital app
THE Philippine National Bank announced last Wednesday the launch of its new banking platform, the PNB Digital App.…
LandBank cash cards issued in Parañaque
BENEFICIARIES of the Pantawid Pamilyang Pilipino Program (4Ps) in Parañaque City started to receive their cash grants online…
Electronic bidding of PDIC assets nets P38.9 million in April
THE Philippine Deposit Insurance Corp. (PDIC) reported on Wednesday that the electronic bidding of its assets yielded P38.9…
In rising tide of financial inclusion, PHL seeks to lift all boats
TWO years ago, then central bank Governor Nestor A. Espenilla Jr. set out to put the country shoulder…
PHL factories moving close to growth mode
AFTER the lockdown-induced slump in April, the Philippine manufacturing sector showed signs of recovery in May as its…
PHL digital transactions rose during renewed lockdowns
MORE Filipinos continued to shift towards digital banking due largely to the movement and operational restrictions brought about…
Fitch warns banks vs low revenues, grim NPL ratio
AN international credit watcher warned last Tuesday of “diminished revenue growth opportunities” and “worsening non-performing loans ratio” for…
Bank lending in April slides further by 5%
BANK lending in the country continued its free fall in April, as the Bangko Sentral ng Pilipinas (BSP)…
BSP forecasts May inflation to hit 4.4%
THE Bangko Sentral ng Pilipinas (BSP) believes that inflation may have slightly decelerated in May this year as…
Economist sees inflation still on plateau this May
THE growth of consumer prices in the country likely remained steady in May this year as underlying price…
S&P keeps investment grade rating for PHL
DESPITE recent cuts in its growth projection and reimposition of lockdowns, international credit watcher S&P Global Ratings announced…