Senate Finance Committee head Senator Sonny Angara on Monday assured that the latest amendments to the Philippine Deposit Insurance Corporation (PDIC) charter will result in a stronger and more resilient banking system in the country. Angara said the Senate's approval of Senate Bill No. 2365 on...
The Senate unanimously approved on third and final reading the bill seeking to amend certain sections of the Philippine Deposit Insurance Corp. (PDIC) Charter, and make it an attached agency of the Bangko Sentral ng Pilipinas (BSP). Voting 23-0-0, the Senate passed during its hybrid plenary session...
The Government Service Insurance System (GSIS) and Social Security System (SSS) topped the list of state-run firms in terms of income for 2020 but both also registered the largest amount of expenditures during the year that the 2019 coronavirus disease (COVID-19) pandemic hit the country, the...
“If you’re not staying on top of your money, you’re putting your financial well-being at risk .” – Suze Orman The current pandemic has brought so many life-altering changes very quickly. Despite the major changes in the last two pandemic years, some things remain the same. We can expect...
The bill seeking to amend provisions in the Philippine Deposit Insurance Corporation’s (PDIC) Charter is now up for Senate plenary discussions. Senator Sonny Angara, who chairs the Senate Finance Committee, on Wednesday night (Aug. 25), has sponsored Committee Report No. 287 on Senate Bill No....
President Duterte has approved the merger between the Land Bank of the Philippines (LBP) and the United Coconut Planters Bank (UCPB) to “strengthen capability to deliver financial services” to coconut industry and the agricultural sector. President Rodrigo Duterte (File photo/Malacañang) In...
Bank deposits rose last year as changes in spending habits brought about by the coronavirus pandemic boosted Filipinos’ savings, the state-run Philippine Deposit Insurance Corp. (PDIC) reported. Roberto B. Tan, PDIC president and chief executive said on Friday, April 23, that total deposits in...
The Bangko Sentral ng Pilipinas (BSP) is planning on putting up an electronic or e-money protection fund in case the bank or non-bank holding the e-money has liquidity issues. The BSP is currently studying the e-money fund protection scheme and is expected to soon release findings and...
State-run Philippine Deposit Insurance Corp. (PDIC) said it posted a double-digit growth in deposit insurance fund (DIF) last year and fully settled all valid claims within the target turnaround time (TAT). In a report submitted to Finance Secretary Carlos G. Dominguez III, PDIC President Roberto...
Hike in deposit insurance The Department of Finance (DOF) said it is supporting the proposed measure seeking to increase the deposit insurance coverage provided for by the Philippine Deposit Insurance Corp. (PDIC) and the removal of the latter’s regulatory function. Finance Secretary Carlos G....
Tonik, Southeast Asia’s first digital-only bank, launches as the first neobank in the Philippines today. Tonik brings to the market a revolutionary and completely branchless way of banking on a highly secure mobile platform that sets out...
Senator Sonny Angara is pushing for the measure seeking to increase the deposit insurance coverage provided for by the Philippine Deposit Insurance Corp. (PDIC). Sen. Sonny Angara (Alexis Nueva España / Senate PRIB / FILE PHOTO) With more Filipinos now putting their money in banks, Angara said the...
