Pag-IBIG Fund posted earnings of P16.11 billion in the first half of 2021 amid the challenges posed by the continuing health crisis, a 14 percent increase compared to the same period last year, its top officials reported on Wednesday, 25 August. From January to June, Pag-IBIG Fund’s gross income...
Fiber broadband provider Converge Information and Communications Technology Solutions, Inc. took out a P3 billion term loan with state-owned Land Bank of the Philippines (LANDBANK) to fund its terrestrial and subsea domestic fiber backbone network. Meta3 The total loan package from LANDBANK also...
Banks are warned against what the central bank referred to as organized crime groups’ (OCG) modus operandi using auto loan products to sell carnapped vehicles to unsuspecting buyers or bank borrowers. In a memo released over the weekend, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G....
The Japan International Cooperation Agency (JICA) approved the fourth and final tranche of its standby loan, which will be used in the Philippines’ post-pandemic recovery programs, the Department of Finance (DOF) announced. JICA In a statement, Finance Secretary Carlos G. Dominguez III said the...
State-owned Social Security System (SSS) said its educational loans increased by more than half in the first semester of the year due to additional expenses incurred by students for flexible learning amid the pandemic. In a statement on Friday, July 23, Aurora C. Ignacio, SSS president and chief...
The central bank’s Monetary Board has approved $2.8 billion worth of government or public sector foreign borrowings in the second quarter this year, down by 59 percent from same time in 2020 of $6.84 billion. The government raised EUR2.10 billion ($2.49 billion) from a Euro-denominated bond...
The Land Bank of the Philippines (LANDBANK) had so far released more than P13 billion in loans and cash grants to nearly a million farmers and fishermen for this year, the bank's latest data showed. As of May 31, LANDBANK has assisted cumulatively 2.7 million farmers and fishers nationwide, of...
State-run Social Security System (SSS) said the pension fund began the mandatory use of payment reference number (PRN) for salary, calamity, emergency, and restructured loan payment transactions starting this month. In a statement, Aurora C. Ignacio, SSS president and chief executive officer said...
Over 250,000 members of the Government Service Insurance System (GSIS) were able to avail of Multi-Purpose Loan (MPL) since last year. GSIS, in a statement issued Friday, June 25, announced that it has granted a total of P65 billion in multi-purpose loans to its 250,783 members since it opened the...
State-owned Government Service Insurance System (GSIS) said its multi-purpose loan disbursements hit P65 billion since its launching nine-months ago. Rolando Ledesma Macasaet, GSIS president and general manager, said on Friday, June 25, that the pension fund’s multi-purpose loan facility has also...
The World Bank has approved a fresh loan to the Philippines that aims to ensure the local financial sector’s stability as well as support the nation's economic recovery. In a statement, the World Bank announced on Friday, June 25, that a $400 million development policy loan (DPL) was approved to...
Senator Sherwin Gatchalian is seeking to protect consumers from the fraudulent schemes of some financial service providers and unscrupulous individuals. Senator Sherwin Gatchalian during a special session in the Senate on March 23, 2020. (Henzberg Austria/Senate PRIB) Gatchalian said on Saturday,...
