Business NEWS

In a bid to save lives, AstraZeneca Philippines has signed an agreement with Security Bank Corporation and SB Finance to provide cancer patients with easier funding options for diagnostics and long-term treatment.

The Bangko Sentral ng Pilipinas’ (BSP) big data use will increasingly apply machine learning (ML) applications or techniques such as natural language processing, nowcasting, and banking supervision, according to BSP Governor Benjamin E. Diokno.

The thrift banking sector may still get its requested lower minimum liquidity ratio (MLR) or less than the current 16 percent as the Bangko Sentral ng Pilipinas’ (BSP) kept its review open.

Big banks’ outstanding loans grew by 8.9 percent year-on-year in March, up from its 8.8 percent expansion in February with the further opening of the economy and easing of mobility restrictions.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the inflation rate could breach the 2022 target, but remained confident it will return to within target range of two percent to four percent in 2023.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they will continue to work with the private sector as well as other government agencies to push for Islamic banking until a “viable” Islamic finance ecosystem is in place alongside the conventional banking sector.

The benchmark interest rate on debt falling due in three years rose at an auction of government IOUs at the Bureau of the Treasury.

Self-employed, voluntary, non-working spouse, and land-based Overseas Filipino Worker (OFW) members may now pay their contributions using ShopeePay, the Social Security System (SSS) announced.

The Department of Energy (DOE) has again recognized the Bangko Sentral ng Pilipinas’ (BSP) Manila head office for its energy efficiency efforts for the third time with a 5-star rating during an on-the-spot energy audit.

The Philippine Deposit Insurance Corp. (PDIC) said its insurance coverage in 2021 was up by three percent year-on-year to P3.2 trillion of which 96.8 percent of all local deposit accounts were fully covered.

Lingering uncertainties over aggressive tightening in the US and domestically pushed up most of the interest rates for short-term Philippine debt papers.

Philippine Bank of Communications (PBCOM) reported a 34.6 percent growth in consolidated net income last year to P1.57 billion, the highest since the entry of the Lucio Co Group in 2014.

Government-owned Land Bank of the Philippines’ (Landbank) net income surged by 141 percent to P13.2 billion in the first three months of 2022 versus P5.48 billion in 2021 on strong assets, deposits and capital growth.

The plan of the Bangko Sentral ng Pilipinas (BSP) to reduce banks’ reserve requirements (RR), even after adjustments to the key rates possibly in June, will not affect the Monetary Board’s policy stance, according to officials.

The country’s biggest banks want the incoming administration to further strengthen the industry’s regional competitiveness and financial inclusion efforts, and to combat cyber-related crimes with all of government resources.

Other financial corporations (OFCs) reported that domestic claims in 2021 reached P7.279 trillion, five percent higher compared with P6.929 trillion in 2020, the Bangko Sentral ng Pilipinas’ (BSP) said.

Two months before his term ends, Finance Secretary Carlos G. Dominguez III thanked on Friday, April 29, his fellow workers in the Department of Finance (DOF) for their “excellence, passion and commitment.”

The International Finance Corp. (IFC) will invest in BDO Unibank, Inc.’s sustainability bond sale that aims to help finance marine and ocean-based projects while supporting the country’s climate goals.