Roughly one in three senior banking officials expects corporate credit demand to increase in the third quarter of the year as business clients seek additional financing to expand operations, according to a survey released by the central bank. The Bangko Sentral ng Pilipinas (BSP) reported that...
Philippine banks generated record earnings in the first half of the year as robust lending margins cushioned the sector against rising credit loss provisions and persistent market volatility. Data from the Bangko Sentral ng Pilipinas (BSP) showed that net income across the banking system rose 5.2...
Winning the Miss Universe crown did not guarantee success on the fashion runway. Former Miss Universe 2022 R 'Bonney Gabriel has been eliminated from "Project Runway" Season 22, ending her bid to prove herself as a designer after just two episodes of the competition. The Filipino-American...
Philippine banks’ and e-wallets’ decision to waive or lower their interbank InstaPay and PESONet transfer fees has already boosted transaction volumes by up to 50 percent, a senior Bangko Sentral ng Pilipinas (BSP) official revealed. BSP Deputy Governor Mamerto E. Tangonan said in a One News...
Multilateral development banks (MDBs), including the Manila-based Asian Development Bank (ADB) and the Washington-based World Bank Group (WBG), increased climate financing to a record $163 billion in 2025, reinforcing their role in supporting resilient and sustainable economies amid mounting...
Bangko Sentral ng Pilipinas Governor (BSP) Eli Remolona Jr. expects a broader wave of lenders to slash or eliminate fund transfer costs, following aggressive fee waivers by some of the country’s largest banking institutions ahead of a strict weekend regulatory deadline. Speaking at a BSP book...
The Bangko Sentral ng Pilipinas (BSP) is proposing a new risk-based supervisory framework to strengthen consumer protection and enhance oversight of local financial institutions. The proposal, which aims to formalize the Financial Consumer Protection Risk-and-Impact Supervisory Model (FCPRISM),...
Following the successful technical testing of the Bangko Sentral ng Pilipinas’ (BSP) wholesale central bank digital currency (wCBDC), which demonstrated the feasibility of 24/7 interbank fund transfers, the BSP is planning to formulate a roadmap to further explore and refine the technology’s...
Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions (BSFIs) are prohibited from entering into partnerships that would allow unlicensed third-party players to conduct electronic money (e-money) operations. “BSFIs shall not enter into any arrangement that results in another person...
Global credit rating agency Fitch Ratings has revised its outlook for the Philippine banking sector from ‘neutral’ to ‘deteriorating,’ warning that recent macroeconomic pressures will likely weaken borrowers’ repayment capacity and compress bank earnings. In a June 25 commentary, Fitch...
Total resources of the Philippine financial system contracted slightly in April as the central bank 's rate-hiking cycle and regional geopolitical frictions prompted a tactical pause among traditional lenders, despite continued expansion in the digital banking sector. According to preliminary...
Global debt watcher Moody’s Ratings has downgraded its outlook on the Philippine banking system to negative from stable, warning that lackluster economic growth could raise credit costs while elevated inflation and emerging risks weaken asset quality. “We have revised our outlook for the...
