The World Bank has hailed the “exceptional performance” of Department of Social Welfare and Development’s (DSWD) Kapit-Bisig Laban sa Kahirapan - Comprehensive and Integrated Delivery of Social Services (KALAHI-CIDSS) National Community-Driven Development Program (NCDDP) in providing...
State-run Land Bank of the Philippines has ramped-up efforts to bring more unbanked Filipinos into the formal banking system to support the national government’s financial inclusion program. The country’s second largest bank in terms of assets reported that it has onboarded more than 3.7...
The World Bank has expressed fear that the forthcoming transfer of some national government’s responsibilities to local executives may hamper the delivery of basic services to the public. In a statement released by the Washington-based financial institution on Thursday, June 10, the bank noted...
The Securities and Exchange Commission (SEC) is supporting moves to amend Republic Act No. 1405, or the Secrecy of Bank Deposits Law, to reinforce the country’s fight against money laundering, terrorist financing, tax evasion and other financial crimes. The amendments put forward under House Bill...
Land Bank of the Philippines said its profit has slightly improved in the first three-months of the year, placing the government-run lender on track to meet its full year target despite the continuing challenges set by the pandemic. In a statement, Cecilia C. Borromeo, Land Bank president and chief...
The World Bank expects the Philippine economy will recover at a much slower pace than initially estimated due to resurgence of coronavirus infections and prolonged movement controls that held back the nation’s early signs of a rebound. The Washington-based financial institution on Tuesday, June...
The Philippine banking system’s assets grew steadily amid the pandemic, it went up by 3.9 percent year-on-year to P19.393 trillion as of end-April from P18.665 trillion, based on Bangko Sentral ng Pilipinas (BSP) data. The end-April total banking assets is however lower compared to end-March’s...
Investors in the local stock market will be closely watching the COVID numbers after the easing of quarantine measures in the nation’s capital while also waiting for the release of employment this week. “Next week, the local market may decline if our country’s COVID-19 situation further...
Metropolitan Bank & Trust Company (Metrobank) has successfully listed P19.0 billion worth of its Peso-denominated fixed-rate bonds on the Philippine Dealing Exchange (PDEx). In a disclosure to the Philippine Stock Exchange, the bank said this is the seventh and last issuance out of its P100.0...
The Philippines has secured another loan from the World Bank to finance a new project that aims to improve selected government buildings in Metro Manila and strengthen the capacity of the Department of Public Works and Highways (DPWH). In a statement, the Washington-based financial institution said...
State-lender Land Bank of the Philippines said it recorded a sustained surge in usage of its digital and e-banking channels in the first four-months of the year as health and mobility restrictions remain in place. In a statement, Cecilia C. Borromeo, Land Bank president and chief executive officer...
The Department of the Interior and Local Government (DILG) commended on Wednesday, June 2, the House of Representatives for the passing in the third and final reading some key amendments on the economic provision of the 1987 Constitution. “We congratulate Speaker (Lord Allan) Velasco for proving...
