Members of the Home Development Mutual Fund (HDMF), or Pag-IBIG, can avail of higher cash loans when it starts to implement the increase in the mandatory monthly savings of the employee next month. Housing czar Secretary Jose Rizalino Acuzar, who also chairs the 11-member Pag-IBIG Fund Board...
The gross non-performing loans (NPL) ratio of Philippine banks dropped to 3.41 percent in November 2023 after rising to 3.44 percent in the previous month. Bangko Sentral ng Pilipinas (BSP) data show, though that the latest NPL ratio is higher compared to the 3.35 percent registered in the...
The Government Service Insurance System (GSIS) has urged its members to take advantage of its improved lending program designed for state workers. In a statement, GSIS President and General Manager Wick Veloso said over 258,000 government employees and Department of Education (DepEd) teachers have...
The Government Service Insurance System (GSIS) reported a surge in interest for its Multi-Purpose Loan Flex (MPL Flex) Program that offers public school teachers and other members the opportunity to access loans at a low interest rate. In a Facebook post on Friday, Nov. 10, the pension fund for...
FundSpace, the online loan platform of Globe Telecom Inc.’s corporate venture builder 917Ventures, has partnered with business loan provider Esquire Financing Inc. to expand its loan offers to local small and medium-sized enterprises (SMEs). Through the partnership, SMEs can now apply for loans...
The Philippines has signed an agreement with Japan to loan a maximum amount of P6.9 billion (17.4 billion yen) for the rehabilitation of the Metro Rail Transit Line 3 (MRT-3). Department of Foreign Affairs (DFA) Secretary Enrique Manalo and Japanese Embassy in Manila Chargé d'Affaires ad interim...
Malacañang bared that the Asian Development Bank (ADB) will grant the Philippines up to $4 billion to support the country’s socio-economic agenda and other infrastructure development programs for 2023 alone. President Ferdinand 'Bongbong' Marcos Jr. and Asian Development Bank President Masatsugu...
BACOLOD CITY – The city government has obtained a P4.4-billion loan from the Development Bank of the Philippines (DBP) to fund priority projects. THE city government of Bacolod has obtained a P4.441-billion loan from the Development Bank of the Philippines to fund priority project. The loan...
President Ferdinand “Bongbong” Marcos Jr. revealed the readiness of state-run banks Landbank and the Development Bank of the Philippines (DBP) to expand their credit coverages to agriculture. In photo are: (from left to right) Usec. Leocadio Sebastian, Undersecretary for Rice Development of the...
Land Bank of the Philippines is offering its "anti-bill shock" credit facility to distribution utilities (DUs) in the power industry to help them cushion the impact of surging electricity rates during the summer months. As conveyed to the Energy Regulatory Commission (ERC), the credit facility...
The Muntinlupa City government released P2.58 million worth of loans with zero interest to local entrepreneurs. A total of 125 entrepreneurs were the beneficiaries of the city government loans released through the Muntinlupa Entrepreneurship Financing Division (MEFD). Muntinlupa Mayor Ruffy...
The Pag-IBIG Fund Board of Trustees officially approved the postponement of the agency’s contribution hike in 2023, citing the continuing recovery of both workers and business owners from the pandemic, its top officials announced Monday (06 March). Secretary Jose Rizalino L. Acuzar, who heads the...
