The Bank of the Philippine Islands (BPI) has announced a standardized ₱15 service fee for all inter-institution cash-in transactions made via InstaPay, effective Oct. 1. In a statement, the Ayala-led bank said the new fee will apply to all cash-in transfers, including those sent to popular...
Philippine business optimism fell to a four-year low in the third quarter of the year, driven by slack in demand and global headwinds, even as consumer pessimism eased to its most improved level in over two years due to new income streams. Based on the Bangko Sentral ng Pilipinas’ (BSP) latest...
Pervasive corruption in the Philippines is preventing the country from realizing its full economic potential, despite President Ferdinand R. Marcos Jr. making “steady progress” on his reform agenda, according to the think tank Capital Economics. In its Asia Economic Outlook report for the...
Driven by the decline in condominium unit prices, housing price growth in Metro Manila grew at its slowest pace in one and a half years in the second quarter of the year, a sluggish rate not seen since property prices contracted in late 2023. According to the residential property price index (RPPI)...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. assured that, despite a liquidity hit, the Philippine banking system remains resilient against bank runs, following the freezing of nearly 730 accounts, with the central bank still in search mode for more suspicious accounts....
Interested players planning to enter the Philippine market are given until Nov. 30 to complete their applications, as the Bangko Sentral ng Pilipinas (BSP) will stop accepting digital banking license applications in December. This planned closure follows the policy-setting Monetary Board’s (MB)...
Long-term time deposits in the Philippine banking industry plummeted 95 percent in recent months, as Filipino depositors may have withdrawn or opted not to renew their placements following the removal of a key tax exemption. “So the five-years-plus-one-day time deposit product of our member...
ILOILO CITY — The Bangko Sentral ng Pilipinas (BSP) recognized its 10 outstanding stakeholders in the Visayas. BSP Monetary Board Member Benjamin “Ben” Diokno and Deputy Gov. Bernadette Romulo-Puyat led the 2025 Outstanding BSP Stakeholders appreciation ceremony for the Visayas in Iloilo City...
The Bangko Sentral ng Pilipinas (BSP) reported a decline in net earnings for the first half of the year, driven by steeper reduction in revenues than in expenses. Data from the BSP showed that the central bank’s net income fell by 17.8 percent to ₱70.3 billion in January to June this year, from...
A larger balance of payments (BOP) surplus in August narrowed the country’s cumulative deficit for the first eight months of the year to its lowest level in five months, according to the Bangko Sentral ng Pilipinas (BSP). The latest data from the BSP showed that the BOP, which reflects the...
Two global banking giants have flagged political and fiscal challenges posing near-term risks to the Philippine economy, especially in the aftermath of a corruption scandal involving massive public spending on ineffective flood control projects in recent years. While “there is a strong pipeline...
Senate President Pro Tempore Panfilo "Ping" Lacson lauded on Saturday, Sept. 20, the Bangko Sentral ng Pilipinas ' move to tighten the rules on large cash transactions by capping withdrawals at P500,000 per banking day. Lacson, who chairs the Senate Blue Ribbon Committee investigating the...
