The Bangko Sentral ng Pilipinas (BSP) has adequate room to maintain the low interest rate environment despite the uptick in inflation last October, the Department of Finance (DOF) said. In an economic bulletin, Finance Undersecretary Gil S. Beltran,...
The banking system remains on “solid footing” in terms of assets, loans, deposits, profitability, capital and liquidity buffers despite the COVID-19 health crisis, a report from the Bangko Sentral ng Pilipinas (BSP) said. “The impact of the pandemic on the overall condition and...
It has come to this. The Bangko Sentral ng Pilipinas (BSP) wants to make public their enforcement actions and criminal cases against erring banks and other supervised entities in the name of transparency and market discipline, deter banks...
The central bank has fully awarded the P60-billion volume it offered for this week’s auction of 28-day Bangko Sentral ng Pilipinas (BSP) bills and it had a lower yield and bid ratio. The BSP’s securities offering is lower than P70 billion last week. Tenders amounted to P121.72 billion, higher...
The Ty-controlled Metropolitan Bank and Trust Co. (Metrobank) is looking at a manageable non-performing loan (NPL) ratio of three percent by end-2020 from 2.25 percent in end-September. Metrobank senior vice president Jette Gamboa said the bank’s NPL ratio is within the industry’s outlook of a...
To ensure stability of the financial system, the Bangko Sentral ng Pilipinas (BSP) is adopting stronger cybersecurity and digital financial supervision to support the digital transformation of all BSP-supervised financial institutions (BSFIs). “The COVID-19 pandemic has magnified our reliance on...
The Bangko Sentral ng Pilipinas (BSP) is expected to keep the benchmark rate unchanged when it meets on November 19, the second to its last two Monetary Board policy meetings for the year. ING Bank, HSBC and Union Bank of the Philippines’ analysts all said that the Monetary Board will not...
Aboitiz-owned Union Bank of the Philippines (UnionBank) will consider applying for a digital bank license to support its agenda for financial inclusion. UnionBank chief financial officer Jose Emmanuel Hilado believes the bank is already a digital bank after years of digital transformation,...
The central bank’s auction of term deposit facility (TDF) this week still show an oversubscription but banks’ demand for the longer tenor, the 14-day, surpassed the 7-day TDF. “There was a notable shift of preference to the longer tenor as the 7-day TDF was undersubscribed with 0.86x...
The Bangko Sentral ng Pilipinas (BSP) is in the last stage of sifting through the rules and regulation of digital banking in the country and could start issuing licenses earlier than expected. In a recent update, BSP Governor Benjamin E. Diokno said they have almost wrapped up all the loose Bangko...
Credit card users will have lower billing statements after November 3 with the adoption of ceilings on interest rate, finance charges and fees on all credit card transactions. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “Starting on this date, interest or finance...
BDO Unibank reported that its Trust Group has achieved the P1-trillion mark in assets under management (AUM) on the back of the strong performance of its unit investment trust fund (UITF) business. AUM is the total market value of the securities a financial institution manages on behalf of its...
