Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said 50 percent of all payment transactions in the country will be in digital form by 2022, one year earlier than previous target of 2023. “Before the end of 2022, we will accomplish those goals,” Diokno said during the virtual...
COVID-related hits on local banks’ asset quality will critically affect their stand-alone credit profiles and viability ratings (VR), said Fitch Ratings. The credit watcher echoed what it said last March that big banks are vulnerable to VR downgrades as the economy remains weak resulting to banks...
The peso closed lower at P47.76 to the US dollar Tuesday, ( June 1) from P47.695 the previous day.  The weighted average rate appreciated to P47.666 from P47.723. Total volume amounted to $1.124.1 billion according to the Bankers Association of the Philippines.
Government regulators have been putting in place frameworks to encourage key sectors of the economy such as publicly listed companies, banks and financial institutions to contribute to the attainment of Sustainable Development Goals (SDGs). As a member of the United Nations, the Philippines has...
The peso closed higher at P47.695 to the US dollar Monday, (May 31) from P47.80  last Friday. The weighted average rate appreciated to P47.723 from P47.901. Total volume amounted to $878.5 million according to the Bankers Association of the Philippines.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Monday (May 31) that they see a lower inflation for May of 4.4 percent based on BSP’s point inflation projection for the month. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno (MB file) While still above the...
For cash agents, remittance centers Banks with cash agents should ensure customers have access to information verification and could easily file complaints when needed as part of stricter rules on cash agent operations, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G....
Inflation rate for the month of May is projected to remain steady at 4.5 percent, same rate in April and March, said economist Robert Dan Roces of Security Bank Corp. Roces expects a range of a low 4.3 percent to a high of 4.7 percent for the May consumer price index. “We expect that...
Borrowings of the Duterte administration inched up in April as the government tapped more foreign creditors to finance its coronavirus response, data from the Bureau of the Treasury showed. Gross borrowings of the national government increased by 3.5 percent to P271.95 billion in April this year...
As prime movers of a country’s economy, financial institutions thrive on public trust and confidence. Individuals and organizations entrust the safekeeping of their money to banks that also provide loans to support the growth and viability of business enterprises. At all times with or...
The Bangko Sentral ng Pilipinas (BSP) said it has started its close monitoring of banks’ sustainable finance transitioning until 2023 when the new guidelines on sustainable banking are fully implemented. BSP Governor Benjamin E. Diokno (Credit: BSP photo) BSP Governor Benjamin E. Diokno in a...
The central bank’s securities auction this week have a lower volume but it remained oversubscribed by 1.52x at P152.15 billion. The Bangko Sentral ng Pilipinas (BSP) bills was offered at P100 billion compared to the previous Friday’s P110 billion. “The BSP adjusted the 28-day bill offer...
