The Philippine peso's gains against the United States (US) dollar at the start of the year may be erased by the widening current account deficit, according to the World Bank. In its Philippines Monthly Economic Developments report for March 2025, the Washington-based multilateral lender noted that...
The national government's debt soared to a new record high of ₱16.63 trillion at the end of the first two months of 2025, putting pressure on its capability to repay obligations. The latest Bureau of the Treasury (BTr) data released on Tuesday, April 1, showed that outstanding obligations as...
After hitting a more than two-year high in January 2025, bank lending continued to grow in February but at a slower pace, according to the Bangko Sentral ng Pilipinas (BSP). Preliminary data from the central bank showed that loans from big banks, excluding transactions with the BSP, grew by 12.2...
The Bank of the Philippine Islands (BPI) has opened its first Prime Phygital branch in Mindanao, reaffirming its commitment to delivering innovative and convenient banking experiences to clients in the region. Strategically located at Azuela Cove in Lanang, Davao City, a 25-hectare development...
BANK OF THE PHILIPPINE ISLANDS (BPI) will be conducting its annual meeting of stockholders on April 21, 2025, Monday at 9:00 AM virtually via https://conveneagm.com/ph/BPI2025ASM A copy of the official announcement published in Manila Bulletin...
While the Philippines would be insulated from the tariff wars initiated by United States (US) President Donald Trump, it cannot reap the potential benefits from the supply chain restructuring of affected businesses in targeted countries. This highlights the need for the Philippines to enhance the...
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...
BANK OF THE PHILIPPINE ISLANDS (BPI) will be holding its annual meeting of stockholders on April 21, 2025, Monday at 9:00 AM virtually via https://conveneagm.com/ph/BPI2025ASM A copy of the official announcement published in Manila Bulletin broadsheet is...
San Miguel Corporation (SMC) affiliate Bank of Commerce (BankCom) achieved a new milestone as its net income hit ₱3.02 billion for the first time, up eight percent from ₱2.8 billion in 2023. The bank said achieving its higher profit since becoming an SMC affiliate shows BankCom’s strong...
After the World Bank loan for the delayed project aimed at mitigating flooding in Metro Manila was extended last year, the Washington-based multilateral lender reported implementation progress at a number of pumping stations. In a March 27 implementation status and results report, the...
Zobel-led Bank of the Philippine Islands has successfully tapped the international capital markets to raise $800 million, its largest issuance size in a single transaction, which it will use for refinancing and general corporate purposes. In a disclosure to the Philippine Stock Exchange, the bank...
Economists at Bank of the Philippine Islands (BPI) believe that the plan of former President Rodrigo Duterte’s supporters, especially overseas Filipinos workers (OFWs), to protest his detention by the International Criminal Court (ICC) at The Hague through a “zero-remittance week” could do...
