Digital banks are nearing traditional banks in terms of perceived safety among Filipinos, as consumers increasingly turn to digital financial platforms for credit and other financial needs. Filipinos are also showing greater willingness to borrow from digital banks, particularly for emergency and...
Big banking players and digital lenders should not rely solely on “fit and proper” standards when appointing and retaining executives, the Bangko Sentral ng Pilipinas (BSP) said, calling instead for continuous assessments of their technical expertise, particularly in managing data and cyber...
The Philippine financial system’s total resources climbed to a record ₱38.31 trillion at the end of the second quarter, driven by sustained loan expansion and accelerated deposit accumulation following a major increase in deposit insurance coverage. According to preliminary data from the Bangko...
Philippine financial technology (fintech) firms are backing a Bangko Sentral ng Pilipinas (BSP) proposal that would require banks and nonbanks to move away from accepting multiple forms of identification for account opening and digital onboarding and instead recognize the national ID as the primary...
The Bangko Sentral ng Pilipinas (BSP) is preparing to order lenders and digital financial firms to link directly with the government’s National ID system, making digital identity verification mandatory for opening accounts and onboarding customers in the country. Under the latest draft circular...
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),...
