The Asian Development Bank (ADB) maintained the economic growth forecasts for the Philippines driven by the government’s infrastructure projects, renewed consumer spending and vaccination program. ADB Logo In the September update of the ADB’s flagship economic publication, the Manila-based...
The construction of the North-South Commuter Railway (NSCR) Extension, the Philippines’ first airport-bound highspeed railway, will create 10,000 jobs and cut down travel time between Metro Manila and Clark to only about an hour, Japanese Ambassador to Manila Koshikawa Kazuhiko said over the...
Asia United Bank announced the recent passing of its Director and Vice Chairman Ramon Y. Sy at the age of 91. “A pillar in the banking industry, Mr. Sy joined AUB in March 2012 as Vice Chairman,” the bank said in a statement. AUB Vice Chairman Ramon Y. Sy It noted that “He was instrumental...
The Senate has passed on third and final reading a bill that would amend the chapter of the Philippine Veterans Bank to ensure its financial viability and expand its beneficiaries. Senator Grace Poe (Office of Sen. Grace Poe/MANILA BULLETIN File Photo) Voting 23-0-0, members of the upper chamber on...
Moody's Investors Service has affirmed the investment grade credit rating, with stable outlook, of China Banking Corporation (China Bank) on the back of the Bank’s strong capitalization, profitability, and liquidity amid the COVID-19 pandemic. 31493 In its September 3, 2021 report, Moody’s...
Struggling flag-carrier Philippine Airlines (PAL) will not get any financial help from government financial institutions anytime soon, the Department of Finance (DOF) said Thursday, Sept. 9. During the virtual Senate briefing, Finance Secretary Carlos G. Dominguez III said that government-owned...
Asian Development Bank (ADB) President Masatsugu Asakawa was reelected for a new five-year term in office at the helm of the Manila-based multilateral institution. In a statement, ADB said Tuesday, Aug. 31, that Asakawa, 63, received unanimous support from the bank’s board of governors for a...
Deposit accounts opened through the Overseas Filipino Bank's (OFBank) digital onboarding system more than doubled in the first semester of the year, the Department of Finance (DOF) said. OFBank In a statement released by the DOF on Monday, Aug.30, the department reported that total deposit accounts...
The Asian Development Bank (ADB) will help local governments in improving their capacity to provide high-quality public services, especially during the coronavirus disease (COVID-19) pandemic. ADB HQ In a statement, the Manila-based multilateral institution said Friday, Aug.27, that it has approved...
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, registered a 32 percent drop in net income to P879 million for the first half of 2021 from P1.29 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said gross revenues...
The Bangko Sentral ng Pilipinas (BSP) is expected to complete its review of two more local-owned banks applying for digital bank license next week, the last two slots for authorized digital banks in the country which has been limited to just seven banks. “There are two more in the pipeline. One...
The Philippine Postal Corporation (PHLPost) has released special postage stamps featuring the China Bank building in Binondo, Manila to commemorate China Banking Corporation’s centennial. Built in 1924, the building was recognized by the National Historical Commission of the Philippines and the...
