Philippine National Bank (PNB) is aiming to more than double its retail loan portfolio over the next three years, capitalizing on its strong capital ratios. During the Philippine Stock Exchange's investor day, PNB Chief Finance Officer Francis Albalate stated that these high capital ratios place...
The Philippines will repay to the Asian Development Bank (ADB) the initial loan it secured for the Laguna Lakeshore Road Network (LLRN) until 2052, or 24 years after the project is expected to be passable. Documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine...
Rural Bank of Sta. Rosa (Laguna) Inc., a subsidiary of homegrown financial technology (fintech) company Salmon Group Ltd., has grown by double-digits its deposits from rich clients as well as loans to blue-collar workers during the first nine months of 2024. Salmon co-founder and the bank’s chair...
It’s easy to feel frustrated and point fingers when facing abnormal weather patterns, especially in the disaster-stricken Philippines, where calamities swing by like unwanted visitors who frequent poor communities. Lest we forget, developing nations suffer the most from rich countries'...
Asia-Pacific economies should keep free trade flowing despite looming challenges to be presented by the return of a protectionist Trump 2.0 administration in the US, according to the top economist of the Asian Development Bank (ADB). “We’re concerned—obviously, it’s probably going to be a...
Micro, small and medium enterprises (MSMEs) continue to expand in fast-growing Philippines, getting a boost from booming electronic commerce, according to the Asian Development Bank (ADB). However, MSMEs in the country remain hampered by limited access to financing, partly as banks avoid bad loans...
The Philippines and the World Bank have agreed on the terms of the 466.07-million euro (equivalent to $500 million or over P29 billion) loan to ensure the safety and resiliency of schools in the country from natural disasters. Official documents disclosed on Nov. 19 showed that Finance Secretary...
Former president Rodrigo Duterte’s claim that Malacañang is behind former senator Antonio Trillanes IV’s attack against him was merely a “hallucination,” Executive Secretary Lucas Bersamin said on Monday, Nov. 18. (From left, first row) Former president Rodrigo Duterte attends the...
Homegrown non-bank Asialink Finance Corp. (AFC) has secured a total of at least $200 million (over P11.7 billion) in loans from two multilateral lenders to support its small business lending in the Philippines. Minutes of an Oct. 9 meeting of the Washington-based International Finance Corp. (IFC)...
Former president Rodrigo Duterte (Santi San Juan/ MANILA BULLETIN) Former president Rodrigo Duterte's flip-flopping response to a challenge for him to sign a bank waiver have left House of Representatives members scratching their heads. ...
As requested by the Philippines, the World Bank has extended by two more years its soon-to-lapse loan for a big-ticket infrastructure project aimed at mitigating flooding in Metro Manila, which had been plagued by delays and underspending due to government inefficiency. Official documents showed...
State-owned Development Bank of the Philippines (DBP) has relocated its two branches as part of efforts to make its customer touchpoints more accessible to the public, a top official said. DBP President and CEO Michael O. De Jesus said that the latest office relocation of DBP P. Tuazon Branch in...
