While the Philippines has made strides in reducing poverty, uncertainties wrought by the looming global trade war may reverse some gains, according to the World Bank. "Employment indicators suggest continued poverty reduction since 2023. The unemployment rate fell to 3.8 percent in 2024 (from 4.4...
Maya, the country’s leading digital bank, achieved net income profitability in the first quarter of the year, driven by robust lending activity and continued growth in deposits and payments. Building on its strong financial momentum from December 2024, Maya’s deposits from January to March 2025...
The World Bank believes that an additional 5.1 million jobs can be created in the Philippines during the next 15 years if the country fast-tracks reforms conducive to labor market growth and enhancement. In an April 18 brief, the Washington-based multilateral lender said that an upcoming Country...
Debt watcher Moody’s Ratings has downgraded Union Bank of the Philippines’ (UnionBank) credit ratings, citing deteriorating asset quality following rapid growth in retail lending and rising problem loan ratios. In its latest rating action issued on Monday night, April 21, Moody’s cut the...
The peso gained a hefty 19 centavos against the United States (US) dollar on Monday, April 21, closing at ₱56.61 from ₱56.8 last April 16. Philippine markets were closed during the observance of Holy Week. The local currency hit an intraday high of ₱56.48 and a low of ₱56.65 after opening...
Ayala-led Bank of the Philippine Islands (BPI) reported a strong first-quarter net income of ₱16.6 billion, a nine percent increase year-on-year, driven by higher revenues that surpassed increased operating expenses and provisions for losses. In a statement, the bank said its net income reached...
Dutch financial giant ING expects the Philippine peso to depreciate against the United States (US) dollar in the near term as the US President Donald Trump-led global trade war rages on and the domestic economy weakens. "We look for the Singapore dollar and Philippine peso to underperform in a...
The Philippines has secured the final $1.45-billion (about ₱82-billion) funding from the Asian Development Bank (ADB) for the Malolos-Clark railway project (MCRP), one of the multilateral lender’s largest infrastructure investments in Asia-Pacific (APAC). According to the ADB’s statement...
While Security Bank Corp. shows overall financial stability, credit rater Moody’s Ratings revised its outlook on the bank’s ratings to negative, citing lingering risks, including the decline in its capital buffer, rapid loan growth, and reduced ability to absorb losses. “We revised the...
Moody’s Ratings, a credit rating agency, has upgraded Philippine National Bank’s (PNB) deposit ratings, citing the big bank’s sustained improvement in profitability, strong capital position, and solid liquidity as key drivers of the upgrade. Moody’s has raised PNB’s ratings for...
Philippine Business Bank reported that its net income dipped to ₱1.8 billion last year from the ₱1.82 billion earned in 2024 as lower trading offset higher core earnings. In a disclosure to the Philippine Stock Exchange, the bank said its interest income grew 14.4 percent to ₱10.6 billion in...
The tariff exemption on electronic products ordered by United States (US) President Donald Trump would provide the Philippines' top export commodity some relief, according to Japanese financial giant MUFG Bank Ltd. This will reinforce the Philippines' position among the emerging markets relatively...
