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...
Union Bank of the Philippines (UnionBank) recently held the virtual groundbreaking ceremony for its ‘Innovation Campus’ last May 26 via Zoom, marking a major milestone in the Bank’s digital transformation journey that started five years ago and garnering thecommendation of top figures in the...
Philippine National Bank will be recording about P34 billion in one time earnings from its windfall from the revaluation of its low-earning but prime real estate assets. In a disclosure to the Philippine Stock Exchange, the bank said the amount will be recorded in its books reflecting the...
The Philippine Coast Guard (PCG) has put up food banks in the coastal areas of Bataan, Manila, and Iloilo to keep alive the spirit of giving through the community pantry amid the lingering threat of the coronavirus disease (COVID-19) pandemic. At least 40 fishermen were given assistance by the PCG...
A Thai-owned agri-industrial and food conglomerate has joined the Philippine government in its mission to revive the country’s swine industry, which had been adversely affected by the African Swine Fever (ASF) crisis. CRUCIAL PACT -- Thai-based agri firm Charoen Pokphand Foods Philippines...
In a bid to entice more borrowers from the agriculture sector, Bank of the Philippines (BPI) has opened a loan program to small and medium enterprises (SME) with no collateral and fewer documentary requirements. BPI Business Banking Head Eric Luchangco said in a statement that the Ayala-led bank is...
The Philippines' chief economic manager said the domestic economy should quickly adapt digitalization to remain viable, otherwise "drown in its wake." At virtual groundbreaking ceremonies of Union Bank of the Philippines Innovation Campus, Finance Secretary Carlos G. Dominguez III saiid that the...
