High borrowing costs and fear of fraud emerged as the top concerns barring Filipinos from credit adoption this year, even as sentiment around credit remained stable, according to the latest survey. “External barriers, led by interest rates and fear of fraud, are the top concerns hindering credit...
Despite a slight decline in revenues, the Bangko Sentral ng Pilipinas’ (BSP) expenses also dropped at a steeper rate, leading to the central bank’s more than double net income in the first three months of the year. Data from the BSP showed that the central bank’s net income jumped by 122.1...
The newly formed alliance of online gaming operators is warning that the recent move by the central bank to cut off easy access to gambling sites via e-wallets could backfire by pushing players into the unregulated black market. The PlaySafe Alliance of the Philippines, comprising 18 online gaming...
While Senator Erwin Tulfo commended the e-wallet firms for complying with the Bangko Sentral ng Pilipinas’ (BSP) 48-hour deadline since August 14 to remove the links of online gambling sites from their mobile applications, he emphasized that the fight against its accessibility is far from over. ...
Cash sent home by Filipinos working and living overseas continued to increase in June on the back of faster inflows from land-based workers, according to the Bangko Sentral ng Pilipinas (BSP). The latest BSP data released on Friday, Aug. 15, showed that overall remittances increased by 3.7 percent...
“I was thrilled,” Bangko Sentral ng Pilipinas (BSP) Deputy Governor for regional operations and advocacy sector, Bernadette “Berna” Romulo-Puyat, unabashedly shared her feelings about her close encounter with US Federal Reserve (US Fed) Chairman Jerome Powell. DG Berna was among the...
E-wallets GCash and Maya will promptly remove all links redirecting users to online gambling sites in compliance with the Bangko Sentral ng Pilipinas’ (BSP) order to remove such links. In a statement late Thursday, Aug. 14, GCash said it would fully comply with the BSP’s directive that...
Senators on Thursday, Aug. 14, became more determined to remove the convenience in accessing online gambling sites through e-wallet applications. The Bangko Sentral ng Pilipinas (BSP) has ordered e-wallet applications to remove, within 48 hours, all online gambling links that appear on their...
The Bangko Sentral ng Pilipinas (BSP) has ordered e-wallet applications to remove within 48 hours all online gambling links that appear on their respective platforms. The BSP gave this order on the day of the Senate hearing of the Committee on Games and Amusement on the paint of online gambling on...
The Philippine banking industry ended the first half of 2025 with a combined net profit of ₱198.1 billion in June, up 4.1 percent from last year’s ₱190.3 billion, driven by double-digit growth in net interest income. Data from the Bangko Sentral ng Pilipinas (BSP) released on Tuesday, Aug....
Net inflows of brick-and-mortar foreign direct investments (FDI) into the Philippines increased to $586 million in May, fueled by stronger investor confidence driven by solid macroeconomic fundamentals, cooling inflation, and ongoing infrastructure growth. Net FDI inflows climbed by 21.3 percent...
With an already narrow output gap and the economy in a “goldilocks” or ideal state, the Bangko Sentral ng Pilipinas (BSP) said slashing key borrowing costs further by three-quarters of a point is unlikely, with two cuts more likely than one. “I think two is more likely than one. Two is still...
