A weaker peso, caused by United States (US) tariffs lifting the US dollar and the Philippines' wider current account deficit, may delay further interest rate cuts by the Bangko Sentral ng Pilipinas (BSP), according to Japanese banking giant MUFG Bank Ltd. "We forecast the BSP to cut rates by...
Japanese banking giant MUFG Bank Ltd. expects the Bangko Sentral ng Pilipinas (BSP) to lower interest rates at a slower pace next year alongside an also slower depreciation of the Philippine peso when US President-elect Donald J. Trump returns to the White House. In a Dec. 20 report, MUFG senior...
Security Bank Corporation and its shareholder, Bank of Ayudhya PCL (Krungsri), may soon merge Home Credit Philippines (HCP) following the recent exit of MUFG Bank Ltd. from HCP. Security Bank has entered into an agreement to acquire MUFG’s 25 percent stake in HC Consumer Finance Philippines Inc....
Ayala Corporation, the holding company of the Zobel family, has signed with MUFG Bank Ltd. (MUFG) and Sun Life Philippines sustainability-linked credit facilities with an aggregate amount of P5 billion. In a statement, the country’s oldest conglomerate said this is to reaffirm its commitment to...
Gokongwei-owned Cebu Pacific, through its finance partner MUFG Bank Ltd., has signed a 12-year Japanese Operating Lease with Call Option (JOLCO) worth $123 million. This is the first time the local airline has “returned to the financing market via a JOLCO structure since the pandemic,”...
Security Bank Corporation has sealed a deal with its global partner MUFG Bank, Ltd. (MUFG) that will allow MUFG’s corporate clients to gain access to the bank’s cash management system, DigiBanker. In a statement, Security Bank said “The agreement aims to provide MUFG’s clients...
Economists from Japan-based MUFG Bank Ltd. see continued strong peso vis-à-vis the US dollar despite the pandemic-induced economic recession and increasing COVID-19 cases which is the highest in the region. MUFG analyst Sophia Ng for Global Markets Research forecasts the peso to keep its strength...
