The total assets of the domestic banking system went up by 12.43 percent to P25.622 trillion as of end-May from P22.788 trillion same period in 2023, based on Bangko Sentral ng Pilipinas' (BSP) latest data. Banking assets are boosted by deposits, loans and investments. Total assets refer to...
Aiming for a green energy future is one thing, but financing these projects is another. Three top banks explained to stakeholders the possible challenges new developers may face when it comes to financing their renewable energy (RE) projects. In a panel discussion during the Solar & Storage...
Consumers will still feel the deepest financial pain triggered by surging electricity rates due to simultaneous plant outages in the past two weeks, but the Department of Energy (DOE) is urging the distribution utilities (DUs) to tap palliative interest-bearing loan from the Land Bank of the...
LANDBANK, OFBank, DMW to speed up OFW claims from 2015 Displaced Overseas Filipino Workers (OFWs) will hopefully receive the long-delayed payment of indemnity claims due to the bankruptcies of Saudi Arabian construction companies way back in 2015 and 2016. In a statement, the Land Bank of the...
The Bureau of the Treasury is set to disburse the P75 billion seed capital to the Maharlika Investment Corp. (MIC) sourced from the Land Bank of the Philippines and the Development Bank of the Philippines (DBP). This decision comes following the approval by the MIC Board, chaired by Finance...
Razon-led Manila Water Co. Inc. has secured a term loan facility from the state-lender Land Bank of the Philippines (Landbank) to support its capital expenditures (CAPEX). In a disclosure to the Philippine Stock Exchange on Wednesday, Dec. 20, Manila Water said the utility signed a P7 billion loan...
Three state-run banks and insurance corporations received the highest ratings for corporate governance in 2022 from the Governance Commission of GOCCs (GCG). During the Government-owned and Controlled Corporations (GOCC) governance awards on Monday, Nov. 20, the Land Bank of the Philippines...
To enhance investment returns, the Social Security System (SSS) has tapped two government-owned banks to serve as its local fund managers for the next three-year period. Rolando Ledesma Macasaet, SSS president and chief executive officer said, the pension fund has allocated P2 billion in...
Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office) The relief request by the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) from the Central Bank for infusions to the Maharlika Investment Fund (MIF) is nothing to...
In removing himself and future presidents from membership of the board of the controversial Maharlika Investment Fund (MIF), President Ferdinand “Bongbong” Marcos Jr. also eliminated the risk of politicians and political decisions influencing the country’s first ever sovereign wealth fund....
Rowena Guanzon (Twitter) With the enactment of the controversial Maharlika Investment Fund (MIF) believed to be imminent, P3PWD Party-list nominee Rowena Guanzon took matters--and money--into her own hands. The outspoken Guanzon went to a Land Bank of the Philippines (LBP) branch on Thursday...
Land Bank of the Philippines is offering its "anti-bill shock" credit facility to distribution utilities (DUs) in the power industry to help them cushion the impact of surging electricity rates during the summer months. As conveyed to the Energy Regulatory Commission (ERC), the credit facility...
