The Philippines’ balance of payments (BOP) deficit widened to a record $7.41 billion in the first four months of the year, driven by the persistent trade imbalance and volatile capital flows that have rapidly depleted the nation’s dollar reserves. The cumulative four-month deficit has already...
The Bangko Sentral ng Pilipinas (BSP) will grant a reprieve from penalties to rural and cooperative lenders adjusting to the more rigorous credit and equity reporting system, part of an ongoing effort to sharpen oversight of the financial sector’s risk exposures. BSP Deputy Governor Lyn I. Javier...
Philippine banks shrugged off the sharp reversal in foreign-exchange trading to post a 2.9 percent increase in net income in the first quarter of the year, driven by higher interest income and the steady expansion in their loan portfolios. Data from the Bangko Sentral ng Pilipinas (BSP) showed that...
De La Salle University (DLSU) economists slashed their 2026 Philippine gross domestic product (GDP) growth forecast to 3.11 percent from 3.79 percent previously, warning that the economy is facing mounting pressure from the Middle East conflict, elevated inflation, and lingering domestic...
The peso’s descent to unprecedented lows is facing a volatile new headwind, with MUFG Bank Ltd. warning that an escalating political feud between the nation’s two most powerful dynasties threatens to upend investor confidence. The Japanese financial institution said that the deepening rift...
Philippine banks’ bad loan ratio improved to 3.29 percent as of end-March, marking a three-month low as lending growth accelerated at a faster pace than the increase in soured loans. The latest Bangko Sentral ng Pilipinas (BSP) data showed that the banking industry’s gross non-performing loan...
The peso fell to its weakest level on record for a second consecutive day, as persistent inflation in the United States (US) fueled expectations that interest rates will remain elevated, dampening appetite for emerging-market assets. The local currency weakened to ₱61.721 per dollar on Friday,...
Money sent home by overseas Filipinos (OFs) climbed to $2.87 billion in March, rebounding from the nine-month low of $2.79 billion recorded in February, closing the first quarter with larger inflows. The latest data from the Bangko Sentral ng Pilipinas (BSP) released on Friday, May 15, showed that...
The country sits in a precarious position, caught at the fulcrum of political disruptions. Pressures are mounting from both external and internal fronts, aggravated by the unpleasant and disturbing episode at the Senate on Wednesday night. The standoff, the gunfire, and the impending impeachment...
The Bangko Sentral ng Pilipinas (BSP) is moving to finalize a World Bank-backed roadmap for financial education this year, seeking to bolster the savings and investment habits of Filipinos as the country pursues deeper economic inclusion. In a May 14 statement, the BSP said the central bank is...
Even as the Philippines is seen posting its weakest post-global financial crisis (GFC) growth, think tank Oxford Economics still stands firm on its assumption that local monetary authorities will emerge among the “active hawks” on monetary policy, with jumbo rate hikes looming. Louise Loo, Asia...
The Philippines’ largest fintech industry group is backing the proposal by the Securities and Exchange Commission (SEC) to transfer regulatory oversight of lending and financing companies to the Bangko Sentral ng Pilipinas (BSP). Lito Villanueva, FinTech Alliance PH founding chairman, said the...
