Following a string of interest rate cuts last year, bank lending accelerated further in January 2025, posting its fastest growth in over two years, according to the Bangko Sentral ng Pilipinas (BSP). The latest central bank data showed that lending by big banks expanded by 12.8 percent year-on-year...
With the Philippine central bank holding off on slashing key interest rates amid global economic uncertainties, the World Bank expects its recent move to lower banks’ reserve requirements to stimulate lending activity. According to the multilateral lender’s latest report on the...
The Philippines is expected to sign in July a record-high $1-billion loan agreement (over ₱57 billion) from the World Bank to fund its sustainable agricultural transformation program, according to the Department of Agriculture (DA). In a statement, the DA said Agriculture Secretary Francisco Tiu...
Security Bank Corporation reported a 23 percent year-on-year growth in net income to a record-high ₱11.2 billion in 2024, as revenues rose 28 percent to also hit an all-time high of ₱54.9 billion. “Growth and investment were the defining outcomes for 2024. We thank our clients, teammates, and...
Robinsons Bank Corp. (RBC) President and CEO Elfren Antonio S. Sarte said all its bank branches will no longer be existent come fourth quarter of 2025 as it will be fully rebranded as Bank of the Philippine Islands (BPI), more than a year after the two banks merged. “By October, all Robinsons...
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, reported an all-time high net income of ₱5.21 billion for 2024, up 15 percent from the ₱4.53 billion it earned in 2023. In a disclosure to the Philippine Stock Exchange, the bank said this resulted in a higher...
Aboitiz-led Union Bank of the Philippines (UnionBank) is raising up to ₱76.35 billion through issuances from both its Euro Medium Term Note (EMTN) Program and Peso Bonds Program. In a disclosure to the Philippine Stock Exchange, the bank said its board has approved the planned issuances as well...
Makati City 2nd district Rep. Luis Campos Jr. (Facebook) The Philippine Deposit Insurance Corp.'s (PDIC) move of doubling the maximum deposit insurance coverage (MDIC) for bank depositors from P500,000 to P1 million will have a positive impact...
In photo are Jette Gamboa, UN GCNP Representative (first from the left); Jo Ann Eala, Head of BPI Sustainability Office (third from the left); and Vicki Tan, UN GCNP Chairperson; Ben Secretario (first from the right), and Edward Gacusana, UN GCNP Representative; joined by other UN GCNP Members and...
A name that is quickly becoming synonymous with determination, intelligence, and skill, Bianca Bustamante, a Filipina racing prodigy, has been making waves in the global motorsport scene since the age of five. Bianca’s journey to the top of the karting world is nothing short of inspiring, and as...
Big banks’ reserve requirements ratio (RRR) could eventually drop to zero percent by 2028 or the end of the central bank governor’s term, according to Security Bank Corp. Speaking to reporters on Wednesday, Feb. 26, Security Bank chief economist Angelo Taningco said he expects the Bangko...
President Marcos hailed the Asian Development Bank's (ADB) ongoing support for the Philippines, saying their assistance has significantly contributed to its economic development. President Ferdinand 'Bongbong' Marcos Jr. and Asian Development Bank president Kanda Masato (PCO) Marcos said this...
