Philippine banks’ bad loan ratio improved to 3.29 percent as of end-March, marking a three-month low as lending growth accelerated at a faster pace than the increase in soured loans. The latest Bangko Sentral ng Pilipinas (BSP) data showed that the banking industry’s gross non-performing loan...
The peso fell to its weakest level on record for a second consecutive day, as persistent inflation in the United States (US) fueled expectations that interest rates will remain elevated, dampening appetite for emerging-market assets. The local currency weakened to ₱61.721 per dollar on Friday,...
Money sent home by overseas Filipinos (OFs) climbed to $2.87 billion in March, rebounding from the nine-month low of $2.79 billion recorded in February, closing the first quarter with larger inflows. The latest data from the Bangko Sentral ng Pilipinas (BSP) released on Friday, May 15, showed that...
Shell Pilipinas Corp. is launching a week-long nationwide discount program starting Friday, May 15, amid volatile global oil prices. In a statement, Shell Pilipinas said the initiative, which runs through May 21, provides tiered price reductions for both private vehicles and public utility drivers...
The country sits in a precarious position, caught at the fulcrum of political disruptions. Pressures are mounting from both external and internal fronts, aggravated by the unpleasant and disturbing episode at the Senate on Wednesday night. The standoff, the gunfire, and the impending impeachment...
The Bangko Sentral ng Pilipinas (BSP) is moving to finalize a World Bank-backed roadmap for financial education this year, seeking to bolster the savings and investment habits of Filipinos as the country pursues deeper economic inclusion. In a May 14 statement, the BSP said the central bank is...
Even as the Philippines is seen posting its weakest post-global financial crisis (GFC) growth, think tank Oxford Economics still stands firm on its assumption that local monetary authorities will emerge among the “active hawks” on monetary policy, with jumbo rate hikes looming. Louise Loo, Asia...
The Philippines’ largest fintech industry group is backing the proposal by the Securities and Exchange Commission (SEC) to transfer regulatory oversight of lending and financing companies to the Bangko Sentral ng Pilipinas (BSP). Lito Villanueva, FinTech Alliance PH founding chairman, said the...
GCash, which has cracked down on more than 7,000 merchants linked to suspicious banking transactions since last year, is backing the Bangko Sentral ng Pilipinas (BSP) as it pushes for stricter merchant onboarding to curb the lingering risk of payment activities tied to money laundering and...
Shell Pilipinas Corp. plans to maintain its annual capital spending at roughly ₱2 billion to ₱3 billion through 2026, prioritizing the modernization of its import terminals and supply chain infrastructure to insulate operations from global market volatility. During the company’s annual...
The Bangko Sentral ng Pilipinas (BSP) is taking its fight against fake money online, launching a free digital academy to teach cashiers and bank tellers how to spot counterfeit pesos.
Central bank launched a new digital training platform aimed at fortifying the integrity of the nation 's...
Lending by big banks, or universal and commercial banks (U/KBs), closed the first quarter on an upbeat note as it accelerated to a seven-month high in March, according to the Bangko Sentral ng Pilipinas (BSP). This came as the sector provided “even stronger support for the production activities...
