Asian Development Bank (ADB) President Masatsugu Asakawa was reelected for a new five-year term in office at the helm of the Manila-based multilateral institution. In a statement, ADB said Tuesday, Aug. 31, that Asakawa, 63, received unanimous support from the bank’s board of governors for a...
Deposit accounts opened through the Overseas Filipino Bank's (OFBank) digital onboarding system more than doubled in the first semester of the year, the Department of Finance (DOF) said. OFBank In a statement released by the DOF on Monday, Aug.30, the department reported that total deposit accounts...
The Asian Development Bank (ADB) will help local governments in improving their capacity to provide high-quality public services, especially during the coronavirus disease (COVID-19) pandemic. ADB HQ In a statement, the Manila-based multilateral institution said Friday, Aug.27, that it has approved...
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a 32 percent drop in net income to P879 million for the first half of 2021 from P1.29 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said gross revenues...
The Bangko Sentral ng Pilipinas (BSP) is expected to complete its review of two more local-owned banks applying for digital bank license next week, the last two slots for authorized digital banks in the country which has been limited to just seven banks. “There are two more in the pipeline. One...
The Philippine Postal Corporation (PHLPost) has released special postage stamps featuring the China Bank building in Binondo, Manila to commemorate China Banking Corporation’s centennial. Built in 1924, the building was recognized by the National Historical Commission of the Philippines and the...
Philippine Bank of Communications (PBCOM) has partnered with Green Antz Builders Inc. as part of its ongoing campaign to be more environmentally conscious. In line with its #PBCOMgoesGREEN campaign, the Bank has started collecting plastic wastes from its employees and and these will be donated to...
Metropolitan Bank and Trust Company (Metrobank) has launched its Metro Multi-Themed Equity Fund of Funds that will allow investors to invest in the digital industry overseas. The bank noted that, “Over the last year, the COVID-19 pandemic has completely overhauled the way society use and maximize...
Security Bank Corporation (PSE: SECB) posted 46 percent drop in net profit to P3.1 billion in the first half of 2021 from the P5.7 billion reported for the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said its profit before tax was up 20 percent to P5.5 billion...
LT Group, Inc. (LTG) posted a 63 percent drop in attributable net income to P3.73 billion in the first half of 2021 from the P10.03 billion earned in the same period in 2020. In a disclosure to the Philippine Stock Exchange, the firm said “This is mainly due to the higher provisioning for credit...
The economy has returned into growth mode, posting a dramatic performance in the second-quarter as expected, but the country’s recovery is losing steam as the rapidly spreading Delta variant has forced the government to put the breaks on further reopening plans. 25245 The gross domestic product...
The Overseas Filipino Bank (OFBank) does not have to remit dividends from its 2016 earnings to the national government after President Duterte issued an order cutting its dividend rate. President Rodrigo Duterte (File photo/Malacañang) Under Executive Order No. 146, the President adjusted the...
