Philippine thrift banks are bracing for a “very expensive” transition to digitalization as the Bangko Sentral ng Pilipinas (BSP) prepares to issue new digital centricity guidelines designed to ensure a level playing field between conventional and digital-first banks. On the sidelines of the the...
The Gilas Pilipinas women 's team hopes to break the losing spell when it shoots for its first win against Lebanon in the 2025 FIBA Women’s Asia Cup at the Shenzhen Sports Center in China Wednesday, July 16. Aiming to secure a Top 6 finish to earn a spot in the FIBA World Cup Qualifiers, the...
Cash sent home by Filipinos working and living overseas continued to increase in May on the back of sustained inflows from both land- and sea-based workers, according to the Bangko Sentral ng Pilipinas (BSP). Money sent through banks by overseas Filipinos (OFs) increased by 2.9 percent to $2.66...
Gilas Pilipinas displayed toughness before yielding to Japan, 85-82, to remain winless in the FIBA Women’s Asia Cup at the Shenzhen Sports Center in China Monday, July 14. Down by 22, 57-79, with eight and a half minutes left in the fourth quarter, the Nationals relied on Jack Animam, Vanessa De...
While several big-ticket government projects in the pipeline threaten to widen the Philippines’ current account deficit and put pressure on the trade balance, Germany-based Deutsche Bank said this could ultimately benefit the country’s economic growth and strengthen the peso in the long run....
The Bangko Sentral ng Pilipinas (BSP) is seeking to implement stricter rules on online gambling payment services, including a ban on lending features and redirect links on payment platforms, to curb the social and financial risks linked to gambling. “It is imperative to ensure that digital...
With the Philippine peso emerging as an outperformer among Asian currencies following the United States’ (US) tariff hike, Japanese financial giant MUFG has maintained its forecast that the local currency will continue to strengthen in the fourth quarter of 2025 through next year. Last Friday,...
The Philippine banking system’s total assets climbed by 6.4 percent to ₱27.26 trillion as of end-May from ₱25.62 trillion a year ago, driven mainly by sustained double-digit growth in bank lending and continued expansion in deposits. Preliminary data from the Bangko Sentral ng Pilipinas (BSP)...
Gilas Pilipinas couldn’t find answers against the torrid shooting of Australia and absorbed a 115-39 beating on the opening day of the FIBA Women’s Asia Cup at the Shenzhen Sports Center in China Sunday, July 13. The Nationals showed fight early on as they overcame a 0-12 deficit in the opening...
Gilas Pilipinas’ seemingly impossible mission in the FIBA Women’s Asia Cup begins Sunday, July 13, when it collides with No. 2 Australia at the Shenzhen Sports Center in China. Up against taller and heftier Aussies, the Nationals need more than breaks of the game if they are to pull off an...
After previously mandating tighter risk management procedures for banks, the Bangko Sentral ng Pilipinas (BSP) has directed all regulated financial institutions to refrain from discriminating against persons of concern, such as refugees and asylum seekers, during customer due diligence. According...
The Philippine banking system’s gross non-performing loan (NPL) ratio slightly eased to 3.38 percent in May, as continued double-digit growth in bank lending expanded the loan base and, along with the central bank’s cumulative 1.25-percent policy rate cut, helped reduce borrowing costs and...
