The Philippine National Bank (PNB) is thinking of putting up a digital bank either as a subsidiary or stand-alone unit, according to its president and CEO Jose Arnulfo “Wick” Veloso. PNB president and CEO Jose Arnulfo “Wick” Veloso “We’re discussing internally with the...
The Development Bank of the Philippines (DBP) is now working with the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) for a financial assistance scheme to help transport providers get back on their feet. The assistance includes government...
WASHINGTON, Oct 14, 2020 (AFP) - The world's two dominant emergency lenders opened their annual meetings on Wednesday with a renewed call for the wealthy to help the poorest deal with the ravages of the coronavirus pandemic, within national borders and globally. (FILES) In this file photo...
Bank of Philippines Islands (BPI), the country’s leading commercial bank, said more businesses need to digitalize on increasing demand for cashless and cash lite transactions. BPI Transaction Services Head Ana Sison noted that many traditional businesses are ill-prepared to adjust to the...
Economists from Japan-based MUFG Bank Ltd. see continued strong peso vis-à-vis the US dollar despite the pandemic-induced economic recession and increasing COVID-19 cases which is the highest in the region. MUFG analyst Sophia Ng for Global Markets Research forecasts the peso to keep its strength...
The Development Bank of the Philippines (DBP) signed a P5.7-billion long-term loan agreement with a subsidiary of the country's biggest steel manufacturer, Compostela Steel Inc. (CSI), for the construction of its largest facility in Compostela, Cebu. CSI, a subsidiary of Steel Asia Manufacturing...
Businesses are pessimistic about their operations in the short-term as sales revenue remained depressed despite the easing community quarantine, a survey commissioned by the government and World Bank revealed. Based on the results from the Philippines COVID-19 firm survey, business owners claimed...
Big banks’ outstanding loans in August grew by only by 4.7 percent year-on-year, a significant low number compared to 6.7 percent in July, the Bangko Sentral ng Pilipinas (BSP) said Friday. “Bank lending growth continued to moderate as a result of weaker corporate sector performance,...
Pineapple and watermelon are currently the most profitable fruit commodities in the Philippines with growers posting record high return of investments (ROI) of 377 percent and 220 percent, respectively among other fruit growers in 2019. At 70, Tata Aldong still plows and tills the land, and even...
Security Bank announced that it will continue to offer free InstaPay and PESONet for free until December 31, 2020 as part of its efforts to support the lockdown measures and keep clients safe at home. “We encourage everyone to remain safe during this pandemic by staying at home and conducting...
The World Bank expects a deeper economic downturn in the Philippines this year due to uncertain prospects as the still uncontrolled coronavirus pandemic will certainly take a heavier toll on poverty. Based on October 2020 Economic Update for East Asia and the Pacific , Washington-based...
Bank of the Philippine Islands (BPI) president and CEO Cezar P. Consing said the bank’s digitalization efforts is currently going through an upgrade to a version he calls “2.0” in anticipation of higher online and mobile-based banking services even post-COVID-19 period, and it will cut...
