Zobel-led Ayala Corp., the country’s oldest conglomerate, is raising up to ₱31.5 billion through the issuance of preferred shares and Samurai loans from two Japanese banks to fund the expansion of its diversified businesses. In a disclosure to the Philippine Stock Exchange, the firm said...
Singapore Airlines announced on March 12 that it will prohibit the charging of portable power banks through onboard USB ports and the use of power banks for personal devices during flights. Photo from Singapore Airlines/Facebook “The SIA Group complies with the International Air Transport...
To increase government revenues, tax authorities such as the bureaus of Internal Revenue (BIR) and of Customs (BOC) in the Philippines should set their sights on bigger enterprises and other entities that are difficult to tax, according to an Asian Development Bank (ADB) report. “Focus on larger...
The peso's recent relative strength against the US dollar would unlikely last for long amid external and domestic threats, according to Singapore-based United Overseas Bank (UOB). While the local currency had traded flat against the US dollar year-to-date as of the first week of this month, "the...
Let's be honest, saving up money can often feel overwhelming, with your day-to-day spending piling up, worries about unplanned expenses from emergencies, and overall need for the right savings habit. And you're not alone in this. The Bangko Sentral ng Pilipinas’s (BSP) data shows that saving...
Bank of the Philippine Islands (BPI) users may enjoy a lower transaction fee as the Ayala-led bank has reduced its interbank fund transfer (IBFT) fee to ₱10. Effective Friday, March 7, the promotion runs until May 31, 2025, or a duration of nearly three months. It covers all the bank’s...
Following a string of interest rate cuts last year, bank lending accelerated further in January 2025, posting its fastest growth in over two years, according to the Bangko Sentral ng Pilipinas (BSP). The latest central bank data showed that lending by big banks expanded by 12.8 percent year-on-year...
With the Philippine central bank holding off on slashing key interest rates amid global economic uncertainties, the World Bank expects its recent move to lower banks’ reserve requirements to stimulate lending activity. According to the multilateral lender’s latest report on the...
The Philippines is expected to sign in July a record-high $1-billion loan agreement (over ₱57 billion) from the World Bank to fund its sustainable agricultural transformation program, according to the Department of Agriculture (DA). In a statement, the DA said Agriculture Secretary Francisco Tiu...
Security Bank Corporation reported a 23 percent year-on-year growth in net income to a record-high ₱11.2 billion in 2024, as revenues rose 28 percent to also hit an all-time high of ₱54.9 billion. “Growth and investment were the defining outcomes for 2024. We thank our clients, teammates, and...
Robinsons Bank Corp. (RBC) President and CEO Elfren Antonio S. Sarte said all its bank branches will no longer be existent come fourth quarter of 2025 as it will be fully rebranded as Bank of the Philippine Islands (BPI), more than a year after the two banks merged. “By October, all Robinsons...
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, reported an all-time high net income of ₱5.21 billion for 2024, up 15 percent from the ₱4.53 billion it earned in 2023. In a disclosure to the Philippine Stock Exchange, the bank said this resulted in a higher...
