Fresh highs in gold reserves pushed the Philippines’ gross international reserves (GIR)—the country’s stock of United States (US) dollars and other foreign currencies—to its highest level in one year, its strongest since October 2024. Preliminary data from the Bangko Sentral ng Pilipinas...
Online gaming firm DigiPlus Interactive Corp. saw its third-quarter profit plunge after new government regulations forced e-wallet providers to cut off in-app access to licensed gaming platforms.
In a disclosure to the Philippine Stock Exchange, DigiPlus reported a 59 percent drop in net income...
The Bank of the Philippine Islands (BPI) expects its card products to be ready for tokenization by next year, positioning the Ayala-led lender for the anticipated local launch of Apple Pay and Google Pay. Jose Teodoro Limcaoco, BPI president and chief executive officer (CEO), said the bank 's...
Ayala-led Bank of the Philippine Islands (BPI) is confident it will achieve full compliance with the Bangko Sentral ng Pilipinas’ (BSP) required standards for its fraud management system (FMS) by mid-2026. Jon Paz, BPI enterprise information security officer and data protection officer, told...
The Bangko Sentral ng Pilipinas (BSP) has lifted a foreign ownership limit on retirement funds, allowing most personal equity and retirement account unit investment trust funds (PERA UITFs) to purchase central bank securities and diversify the savings of overseas Filipinos. The BSP, under Circular...
Cash sent home by overseas Filipinos slipped to $2.98 billion in August from July’s seven-month peak, but the seasonal remittance surge in the fourth quarter is expected to lift inflows for the rest of the year. According to the Bangko Sentral ng Pilipinas (BSP), total cash remittances in August...
Washington-based International Monetary Fund (IMF) expects the Philippines’ current account deficit to widen by end-2025 and remain elevated through 2026. According to the latest issue of the World Economic Outlook (WEO), published on Tuesday, Oct. 14, the IMF has forecast the Philippines’...
While the Bangko Sentral ng Pilipinas (BSP) moves to ramp up its anti-money laundering system, the central bank chief said the ₱500,000 cash withdrawal limit has so far been a “very effective” measure. “I think it’s very effective so far. As best we can tell, it’s a very effective...
The Bangko Sentral ng Pilipinas (BSP) reported a ₱16 billion decline in net profit in the first seven months of the year, as single-digit drop in expenses was outweighed by the double-digit fall in revenues. Data from the BSP showed that the central bank’s net income fell by 16.8 percent to...
Philippine banks’ bad loan ratio climbed further to 3.5 percent in the first nine months as borrowers’ ability to repay debts weakened due to muted business activities, mainly from climate disruptions and trade setbacks. According to the latest data from the Bangko Sentral ng Pilipinas (BSP),...
Foreign financial giants and a think tank expect the Bangko Sentral ng Pilipinas (BSP) to further reduce key borrowing costs to 4.5 percent by year-end following the central bank’s shift to more dovish tone. Netherlands-based financial giant ING has flagged risks that could slow growth from the...
Due to the pessimistic outlook from businesses related to flood control concerns, the Bangko Sentral ng Pilipinas (BSP) has lowered its growth projection for next year to 5.3 percent, which is below the reduced target of six to seven percent. BSP Governor Eli M. Remolona Jr. revealed in a One News...
