While the Bangko Sentral ng Pilipinas (BSP) sees no need just yet to defend the Philippine peso amid global oil price risks, the plunging local currency may push monetary authorities into more cautious policy easing moving forward, economists said. Japanese financial giant MUFG Bank Ltd. said that...
China Bank Savings (CBS), the retail lending arm of the SM Group’s China Banking Corporation, sees enough room for competition in the thrift banking segment, even from BDO Network Bank, as it continues to post strong earnings growth. In a chat with media after the bank’s annual stockholders’...
Former Finance Secretary Dr. Roberto F. de Ocampo is retiring as Chairman of Philippine Veterans Bank, and this will be formally announced during that bank’s annual stockholders’ meeting tomorrow. The bank stated that De Ocampo has formally expressed his intention to retire, a decision approved...
The peso dropped to the ₱57 level against the United States (US) dollar on Thursday morning, June 19, ahead of the expected Bangko Sentral ng Pilipinas (BSP) interest rate cut later in the day. According to the Bankers Association of the Philippines (BAP), the local currency opened at ₱57.1,...
The Philippines is facing a growing deficit in its net dollar earnings or current account, placing it in the middle of the pack in the latest macro risk assessment of 27 key emerging markets (EMs) by DBS Bank Ltd. In a June 17 report authored by DBS senior economist Han Teng Chua and data analytics...
The Philippine peso has depreciated the most among regional currencies against the safe haven United States (US) dollar so far since Israel attacked Iran and heightened global oil price risks. A June 18 report by Japanese financial giant MUFG Bank Ltd. showed that since June 13, the peso weakened...
Peso-denominated bonds issued by the Philippine public and private sectors climbed at the start of the year, as both the government and private corporations increasingly tapped the domestic commercial debt market for their financing requirements. Data from the Asian Development Bank 's (ADB)...
Two-and-a-half-year-old Salmon Group Ltd, a Manila-based financial technology (fintech) firm, has raised $88 million to expand its efforts in delivering modern financial solutions and improving credit access across Southeast Asia. The funding includes a $60 million drawdown from a three-year, $150...
Aside from strengthening governance to build investors’ confidence in developing countries like the Philippines, the Washington-based World Bank Group (WBG), the world’s largest development bank, said these economies should also increase job opportunities for women as local branches of foreign...
Israel 's attack on Iran may pause monetary policy easing by the Bangko Sentral ng Pilipinas (BSP) while also weakening the peso, according to foreign banks. “We think that the spike in oil prices on June 13 due to the Israel-Iran conflict is unlikely to derail the BSP 's decision to...
Manila-based Asialink Finance Corporation (AFC) has secured a ₱120-million credit line from Taiwan-based Mega International Commercial Bank Co., Ltd. (Mega ICBC), a partnership aimed at expanding financing to the country’s micro, small, and medium enterprises (MSMEs). “With this additional...
The Governance Commission for Government Owned or Controlled Corporations (GCG) has secured an over ₱14-million funding from the Manila-based Asian Development Bank (ADB) to harmonize and digitize reporting among state corporations. In 2025, we are proud and honored to have created a partnership...
