Asia United Bank reported a 38 percent drop in consolidated net income to P736 million in the first three months of 2021 from the P1.2 billion earned a year ago primarily due to higher provisions. “While COVID-19-related lockdown persists and the economy continues to reel from the impact of...
State-lender Land Bank of the Philippines continues in administering support programs for the Department of Agriculture as part of the rice tariffication law’s (RTL) implementation to help Filipino rice farmers. In a statement on Wednesday, May 19, Land Bank said it has disbursed a total of P7.5...
The Bangko Sentral ng Pilipinas (BSP) approved four new banking offices in the last quarter of 2020 compared to 67 new branch applications in the same period in pre-pandemic 2019. Based on a BSP circular letter, there was only one approved regular branch and three branch-lite units (BLUs) in the...
Despite the escalating situation in Israel, the Philippine government is maintaining the same alert level where Filipinos are advised to take precautions, the Department of Foreign Affairs (DFA) said Monday. Department of Foreign Affairs (DFA) In a statement, the DFA said they have not received a...
Amid the pending amendments to the Agri-Agra Reform Credit of 2009 (Agri-Agra Law), the Land Bank of the Philippines (LANDBANK) said it is open to revisiting its existing loan application requirements to make it easier for farmers and fishermen to borrow from the state-run bank. In a statement,...
Manila Mayor Francisco "Isko Moreno" Domagoso signed on Monday (May 17) an agreement with the Santa Lucia International Eye Bank of Manila (SLIEB) to help promote corneas and eyes donations in the country as well as a donor card that allows for the harvest of his eyes and corneas in the event of...
The financial system’s total resources increased to P24.08 trillion as of end-March, up by 5.46 percent from same period last year of P22.84 trillion, based on Bangko Sentral ng Pilipinas (BSP) data. Of the total figure, banks have P20.03 trillion of total resources, up by 6.64 percent...
The local stock market is seen to move sideways this week as the previous week’s trading shows that investors are not allowing the PSEi to drop too low while not having enough confidence to buy up share prices. “For trend watchers, the best case is for a sideways drift to appear in the next...
Security Bank Corporation reported that its net profit dipped 10 percent to P1.6 billion in the first quarter of 2021 from the P2.9 billion earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said the decline was due to the passage of the CREATE law which...
Victims of fake news about an alleged "community pantry" event at the Metropolitan Manila Development Authority (MMDA) Timog Base were supposed to go home empty-handed. (Photo from Edison "Bong" Nebrija's Facebook) That is, until EDSA traffic czar Edison "Bong" Nebrija showed up and made a crunch...
Six Philippine companies, led by the Sy family’s SM Investments Corporation and BDO Unibank, made it to Forbes Magazine’s 19th annual Global 2000 list. The list is an international ranking of the world's biggest, most-powerful and most-valuable companies based on an analysis of four metrics:...
Amid the prevalence of the COVID-19 pandemic, the Philippines is facing another looming concern on piling medical and plastic waste. In a statement, waste management firm Metro Clark Waste Management (MCWM) has called for improved waste management amid the country’s growing garbage problem. A...
