The Bank of the Philippine Islands (BPI) has announced that all BPI Prepaid Cards will be deactivated on Dec. 27, 2024. In an advisory on Tuesday, Sept. 3, BPI said that the bank will also discontinue the loading of funds onto these cards through the BPI app, online banking, and Cash Accept...
The Court of Tax Appeals (CTA) has denied the petition of Deutsche Knowledge Services Pte., Ltd. which sought an additional refund or tax credit for P8.2 million for the second quarter of taxable year 2019. Deutsche Knowledge is the Philippine branch of a multinational company organized and...
CSC Holdings Ltd., a Hong Kong-listed financial services firm, has announced its acquisition of a 26.8 percent stake in Citystate Savings Bank for approximately P736 million. In a disclosure to the Hong Kong Stock Exchange, CSC said it signed a sales and purchase agreement (SPA) on Friday,...
Dutch financial giant ING expects the Bangko Sentral ng Pilipinas (BSP) to continue cutting interest rates, given favorable inflation expectations for August and beyond. "Even though there is no evidence yet that the July tariff cuts have had much impact on consumer rice prices, the absence of any...
The Bank of the Philippine Islands (BPI) is encouraging its high-net-worth clients to take advantage of the Mobile Check Deposit feature on its mobile app. In a statement, the Ayala-led bank said that the service, currently available only to BPI Preferred, BPI Gold, and BPI Private Wealth...
The Philippines is set to secure a $500 million loan from the Asian Development Bank (ADB) to support its climate action initiatives, the Department of Finance (DOF) announced. During a meeting with Finance Secretary Ralph G. Recto, ADB President Asakawa stated that they are finalizing the approval...
The Philippine government, through a proposal from the Department of Energy (DoE), will be seeking P10 billion worth of funding to bankroll energy efficiency initiatives being mandated for state-run entities. In an interview with reporters, Energy Undersecretary Felix William B. Fuentebella...
Another gold for Carlos Yulo. Cebuana Lhuillier recently presented gymnast Carlos Yulo with a set of exclusively crafted gold bars as a token for his historic two gold-medal haul in the 2024 Paris Olympics. (From left) Cebuana Lhuillier Senior Executive Vice President Philippe Andre Lhuillier,...
Many cooperatives that borrowed from the Development Bank of the Philippines (DBP) have struggled to meet their obligations under the public utility vehicle (PUV) modernization program, the bank's chief executive said. During a Senate budget hearing on Tuesday, Aug. 27, Michael de Jesus, DBP...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. has been awarded an “A-” rating in Global Finance magazine’s 2024 Central Banker Report Cards, marking him as one of the top central bank governors in world. In a statement on Monday, Aug. 26, the BSP announced that...
As the digital landscape evolves, so too do the tactics of cybercriminals, where scams targeting unsuspecting bank customers are on the rise. The Bank of the Philippine Islands (BPI) has recently alerted the public to a trend that mirrors the childhood game "Two Truths and a Lie," where...
Security Bank Corporation has successfully raised P20 billion from the issuance of its Fixed Rate Peso Corporate Bonds due 2029— four times the original amount and its largest issue size so far. In a disclosure to the Philippine Stock Exchange, the bank said bonds carry a rate of 6.05 percent per...
