State-run Land Bank of the Philippines (LANDBANK) said its total loan portfolio to the agriculture sector slightly grew to P229 billion as of March 31 or 4.8 percent higher than P219.24 billion in February, with the small, medium, and large enterprises (MSMEs) accounting for the bulk. According to...
The peso closed lower  at P48.39 to the US dollar Monday, (April 26) from P48.381 last Friday. The weighted average rate appreciated to P48.347 from P48.383. Total volume amounted to $514.68  million, according to the Bankers Association of the Philippines.
Private sector economists raised its 2021 mean inflation forecast from 3.9 percent in February to 4.3 percent in March due to oil price movements, based on the Bangko Sentral ng Pilipinas (BSP) latest survey. The same analysts also revised higher its 2022 mean inflation forecast to 3.1...
The Bangko Sentral ng Pilipinas (BSP) will not be granting any appeals or requests extending the nine-year term limit of banks’ independent directors, BSP Deputy Governor Chuchi G. Fonacier said. Fonacier in BSP Memorandum No. M-2021-025, which she signed on April 23, said requests of all...
The auction of Bangko Sentral ng Pilipinas (BSP) securities continue to be both oversubscribed but with a lower yield. On Friday, the BSP fully awarded its P90-billion 28-day offer of BSP bills. It fetched a rate 1.8286 percent versus 1.8562 percent previously. Bids reached P145.25...
Despite weak loan demand, SM Group’s BDO Unibank Inc. earned P10.4 billion in the first three months of 2021, up by 19 percent year-on-year or from P8.8 billion, according to its president and CEO, Nestor V. Tan. Tan said the bank’s 2021 outlook remains uncertain, citing inflation pressures,...
Two of the country’s big banks BDO Unibank Inc. and Bank of the Philippine Islands (BPI) are currently looking into acquiring Citi Philippines’ retail business after its parent global company, US-based Citibank N.A., announced its planned exit. BDO president and CEO Nestor V. Tan said...
The Duterte administration’s economic managers said the decision by the Rating and Investment Information Inc. (R&I) keeping the Philippines’ investment grade status was a vote of confidence on the economy’s COVID-19 recovery and growth prospects. In a statement, Finance Secretary Carlos...
The peso closed higher at P48.41 to the US dollar Thursday, (April 22)  from P48.45 the previous day.  The weighted average rate depreciated to P48.402 from P48.388. Total volume amounted to $595.5 million, according to the Bankers Association of the...
Pawnshops reported P45 billion worth of pledge loans in 2020, down by 4.25 percent compared to 2019’s P47 billion due to the pandemic lockdowns, according to Bangko Sentral ng Pilipinas (BSP) officials. BSP Governor Benjamin E. Diokno said however that despite the restrictions of the community...
The Bangko Sentral ng Pilipinas’ (BSP) five-only digital banks is not a long-term limit and can be lifted depending on demand and requirement, according to BSP Governor Benjamin E. Diokno. “At the moment our policy is to consider among applicants the top five banks that we are willing to...
As the only country in the world with a constraining deposits secrecy law, the Bangko Sentral ng Pilipinas (BSP) will request President Duterte to certify the proposed measures on Bank Secrecy Law as urgent, particularly the BSP’s version of the law as House Bill No. 8991. BSP Governor Benjamin...
