New bank applicants that are proposing to operate business models that looked like digital banks will be approved as digital banks, according to a Bangko Sentral ng Pilipinas (BSP) memo released on Tuesday clarifying the new circular on the establishment of digital banks. BSP Deputy Governor Chuchi...
Ayala-led Bank of the Philippine Islands (BPI) has designed a credit facility that specifically targets to provide funding to commercial hog raisers who were affected by the African Swine Fever (ASF). In a statement, BPI said that as part of its Sustainable Development Finance (SDF) program,...
WASHINGTON (AFP) - The World Bank on Tuesday downgraded its outlook for the global economy, and warned the situation could deteriorate if Covid-19 infections accelerate or the vaccine rollout is delayed. The coronavirus pandemic also has worsened the risks surrounding the rising debt load in...
Debt service burden down 8% The Philippines will continue to have a strong debt sustainability position and will remain comfortably way below what the Bangko Sentral ng Pilipinas (BSP) considers a danger threshold even as the country borrow more from foreign sources to fund COVID-19 vaccine...
China Bank Capital, a unit of China Banking Corporation, reported that it grabbed a 30.5 percent share of the investment banking transactions this year. In a statement, the firm said it has maintained its position as the number one debt capital markets bookrunner in the Philippines since its...
The International Finance Corp. (IFC) plans to issue loan financing to the country’s largest microfinance institutions to help them remain afloat and save jobs as the Philippines grapples with the economic impacts of the COVID-19 pandemic. In a statement, IFC said the World Bank Group member...
The World Bank has approved two loans to the Philippines to support the country's recovery efforts from the coronavirus pandemic, improve competitiveness, as well as build resilience against shocks and natural disasters. In a statement, the Washington-based lender, said it approved $900 million...
The Asian Development Bank’s (ADB) has earmarked $9.4 billion in sovereign lending to the Philippines for the next three-years to help the government revitalize the economy amid the coronavirus disease pandemic. In a statement, the Manila-based multilateral institution, said that at least...
SB Capital Investment Corporation (SB Capital), the investment arm of Security Bank Corporation (SBC), was recently recognized by The Asset and FinanceAsia Awards for its participation in several fund-raising activities. In a statement, SBC said SB Capital was cited for its role as lead arranger,...
The Asian Development Bank (ADB) approved a fresh loan to the Philippines to help build elevated pathways in four areas along the Epifanio de los Santos Avenue, commonly known as EDSA. Design image of the elevated walkways on EDSA to be constructed with financing from a new ADB loan In a statement,...
The Asian Development Bank (ADB) downgraded its growth forecast for the Philippines as the nation struggled in containing the coronavirus outbreak that hampered economic recovery. Based on ADB’s Asian Development Outlook update, the Manila-based multilateral institution has projected that the...
Climate-related challenges remain formidable threats to the Philippines’ gradual recovery from the prolonged coronavirus pandemic, the Department of Finance (DOF) said. Speaking at a virtual World Bank forum, Finance Secretary Carlos G. Dominguez III acknowledged the urgency of implementing...
