While the Philippines’ climb to upper-middle-income-country (UMIC) status is attainable in the medium term, the country will be surpassed by neighboring Vietnam, which would jump to become a high-income economy 15 years from now, according to Singapore-based DBS Bank Ltd. The Philippines,...
Philippine goods exports climbed 13.2 percent year-on-year to a record $41.24 billion in the first six months of 2025 as exporters front-loaded shipments ahead of the 19-percent tariff to be imposed by the United States (US), the country’s top export market. National Statistician Claire Dennis S....
President Marcos has cited the role of the World Bank in the Philippines ' goal to build critical infrastructure and boost preparedness against climate change and natural disasters. During the ceremonial turnover of the World Bank Group Philippines Country Partnership Framework (CPF) for...
Security Bank Corp. announced that its Chief Financial Officer, Eduardo M. Olbes, will retire on Sept. 15, 2025, but, his replacement, Allen Alexander P. Reyes, will be onboard by Aug. 11, 2025, to facilitate the transition. In a disclosure to the Philippine Stock Exchange, the bank said that,...
Asia United Bank (AUB) posted a 17 percent growth in consolidated net income to a record ₱6.1 billion for the first six months of 2025 from the ₱5.2 billion earned in the same period last year a year ago and its highest first-half income. In a disclosure to the Philippine Stock Exchange, the...
The Lucio Tan (LT) Group’s Philippine National Bank (PNB) reported a 22-percent growth in consolidated net income to ₱12.5 billion for the first half of 2025, on the back of sustained improvements in core revenues consisting of net interest income and net service fees and commissions. In a...
Aboitiz-led Union Bank of the Philippines (UnionBank) expects its earnings to improve soon even as continuing costs for the expansion of its credit card business weighed net income down by 35 percent to ₱3.3 billion in the first half of 2025 from ₱5.07 billion in the same period last year. The...
After experiencing a three-day appreciation streak against the United States (US) dollar, the Philippine peso weakened again by shedding almost half-a-peso on Friday, July 25, despite the fresh market optimism over the latest trade deal with the US. According to the Bankers Association of the...
Two titans of the banking industry are locked in a fierce battle, each vying to provide Victory Liner Inc. the ₱5 billion capital expenditures needed to construct the bus company’s intermodal terminal. Word on the street, or rather, along the banking corridors, is that the Ty family-owned...
The World Bank Group’s (WBG) International Finance Corp. (IFC) is considering another round of investment financing support for Ayala Land Inc. (ALI), including for the property giant’s ongoing renovation and expansion of its flagship malls to make them “greener.” A World Bank document seen...
With President Ferdinand Marcos Jr. only managing to secure a one-percentage-point (ppt) reduction in tariffs on Philippine exports to the United States (US), the country is seen to lose its “minimal” competitive edge over its regional peers—an advantage it enjoyed due to a strong peso and...
The Ayala Group reported that the parent company and four of its main subsidiaries have once again made it to the prestigious FTSE4Good Index Series due to their sound environmental, social and governance (ESG) practices. In a statement, the conglomerate said inclusion in the index strengthens the...
