Manila-based Asialink Finance Corporation (AFC) expects to post about ₱2.7 billion in net income by year-end, driven in part by the fresh $75-million (around ₱4.36-billion) term loan facility it secured from United Kingdom-based Standard Chartered Bank (SCB). Asialink said the maiden loan...
The Department of Public Works and Highways (DPWH) and the World Bank will start construction of the ₱37-billion Mindanao Transport Connectivity Improvement Project (MTCIP) in 2027 for safer transport and better access across key areas of Mindanao. The project will follow a 22-month design phase...
Six of the country’s top business groups called on lawmakers to amend the Philippines’ bank secrecy laws as a measure to improve the country’s standing in the global financial community amid the damage caused by corruption issues. In a statement on Friday, Oct. 17, the groups pushed for...
The Bank of the Philippine Islands (BPI) won six awards at the Asian Banking & Finance (ABF) Retail Banking Awards 2025, reaffirming its position as a strong leader in the Philippine banking industry. “We are honored to be recognized by Asian Banking and Finance. These awards affirm our...
Bank of the Philippine Islands (BPI), the financial services arm of the Ayala Group, posted a 5.2-percent improvement in net income to ₱50.5 billion in the first nine months of 2025 from the ₱48 billion earned in the same period last year. The bank said in a disclosure to the Philippine Stock...
Asia United Bank’s (AUB) e-wallet HelloMoney is targeting to grow its users to as many as 6.5 million by end-2025, riding on a new partnership with digital life insurer Singlife Philippines and a recent tie-up with the state-run Social Security System (SSS). “Last year, we had about five...
Japanese financial giant MUFG Bank, Ltd, now sees the Philippine peso weakening at a deeper level, as the sudden shift in the Bangko Sentral ng Pilipinas’ (BSP) tone has also made the market more expectant of about two additional cuts. “We now pencil in the BSP cutting rates to 4.25 percent by...
Diversified conglomerate San Miguel Corp. (SMC) leads the nine Filipino companies included in Forbes Magazine’s World’s Best Employers list this year, which consisted of 900 companies. SMC was ranked at No. 42, the only Philippine company in the top 100, followed by Ayala Corp. (139),...
Five Filipina chief executives in financial services and real estate were named in Fortune Magazine’s 100 Most Powerful Women in Asia list for 2025. Named to the list are: Martha Sazon of Mynt-Gcash (#37), Anna Ma. Margarita Bautista Dy of Ayala Land Inc. (#69), Lynette V. Ortiz of Land Bank of...
Aside from lead cornerstone investors International Finance Corp. and Asian Development Bank (ADB), Maynilad Water Services, Inc. has signed cornerstone investment agreements with 10 more international and domestic institutions led by the UK’s Foreign, Commonwealth and Development Office, acting...
The Bank of the Philippine Islands (BPI) announced the passing of its former president and chief executive officer, Xavier P. Loinaz, a figure who steered the institution through two decades of major economic turbulence and technological change. He was 81. Known as XP within the bank, Loinaz held...
Japanese financial giant MUFG Bank Ltd. expects the Bangko Sentral ng Pilipinas (BSP) to maintain the key policy rate at five percent throughout 2025 but anticipates the central bank will reduce it by another one percentage point (ppt) to four percent in 2026. Based on MUFG’s Sept. 24 report,...
