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...
Bank of Commerce (BankCom), an affiliate of San Miguel Corporation (SMC), posted a 10 percent year-on-year increase in unaudited net income to P2.21 billion in the third quarter of 2024, mainly due to higher revenues. The bank said in a disclosure to the Philippine Stock Exchange (PSE) that this...
Security Bank Corporation registered a 12 percent year-on-year growth in net profit to P8.5 billion in the first nine months of 2024 as revenue growth accelerated to 28 percent compared to the 24 percent posted in the first semester of the year. In a disclosure to the Philippine Stock Exchange...
BDO Network Bank, Inc. will be conducting its annual meeting of stockholders on December 6, 2024, Thursday, at 11:00 A.M. via online. A copy of the official announcement published in Manila Bulletin broadsheet is shown below:
The World Bank has approved a $750 million loan to support the Philippines' digital transformation, aiming to boost economic growth and improve access to essential services. In a statement, the Washington-based multilateral institution, said the Second Digital Transformation Development Policy...
Beneficiaries of the poverty-alleviating Pantawid Pamilyang Pilipino Program (4Ps) can expect to continue receiving their conditional cash grants as the World Bank has extended the validity of the Philippine government's $600-million (over P35-billion) loan for the country's flagship safety net....
