Leading digital banking services provider CIMB Bank PH has partnered with Southeast Asia’s leading digital payments provider SeaMoney to onboard 2.5 million loan customers in 2023, doubling the 1.3 million users SPayLater currently has in the country. The BNPL transaction volume in the Philippine...
Metropolitan Bank & Trust Co. (Metrobank) was named “The Strongest Bank in the Philippines” for the second consecutive year by The Asian Banker. “The Bank continued to outperform its peers in the country in terms of capitalization and liquidity. Its Tier 1 capital ratio, total capital...
Income inequality in the Philippines remained one of the highest rates in East Asia despite important gains in poverty reduction following recent strong economic performance and improving access to employment, the World Bank reported. In a World Bank report titled “Overcoming Poverty and...
BayaniPay, a Los Angeles-based Filipino fintech company, targets to get 20 percent of the $146 billion global market for Filipino remittances in three years, CEO Winston Damarillo told reporters. Already, BayaniPay is the first cross-border digital financial service for the 4.2 million strong...
Security Bank taps Malaysian automation firm By JAMES A. LOYOLA Security Bank Corporation has tapped Malaysian-based banking automation company Consolsys to transition the bank’s current branch banking management system to a state-of-the-art digital, cloud-based omni-channel platform. In a...
Top Officers Rick Pusag and Joey Regala guard the doors of EastWest against cybersecurity and IT threats. Sharing decades of experience combined between the two, they lead the Bank's Cybersecurity and Information Departments, with EVP Rick Pusag as the Technology and Productivity Head and FVP Joey...
Philippine Bank of Communications (PBCOM) has received its Certificate of Authority to operate a Universal Bank from the Bangko Sentral ng Pilipinas. 81209 In a disclosure to the Philippine Stock Exchange, PBCOM Chairman Eric O Recto said “Our upgraded license to operate as a Universal Bank is a...
The Department of Environment and Natural Resources (DENR) is set to start the accounting and mapping of the Philippine's natural resources as part of the efforts to come up with a reliable and accessible localized data in the country's fight against climate change. DENR Secretary Maria Antonia...
Philippine National Bank reported a 53 percent drop in net income to P11.4 billion for the first nine months of 2022 from P24.25 billion in the same period last year due to substantial one-time gains in 2021. In a disclosure to the Philippine Stock Exchange, the bank said gross revenues fell 40...
Philippine Seven Corporation (PSC), the exclusive licensor of convenience store 7-Eleven in the Philippines, announced there are 2,000 7-Eleven stores with ATMs installed boosting its delivery of safe and convenient banking nationwide. Jose Victor Paterno, president and CEO of PSC, said the latest...
Bank of Commerce (BankCom), an affiliate of San Miguel Corporation, more than doubled its net income to P1.49 billion in the third quarter of 2022 from the P626 million it reported in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said its strong performance...
Security Bank Corporation posted a 77 percent jump in net income to P8.6 billion in the first nine months of 2022 from P4.8 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said the hike in earnings was driven by growth in core businesses, lower...
