Seven multilateral development banks (MDBs), including the Manila-based Asian Development Bank and the World Bank Group (WBG), pledged coordinated support measures to help countries manage the economic fallout from the ongoing conflict in the Middle East. In a joint statement released in Paris,...
Philippine banks shrugged off the sharp reversal in foreign-exchange trading to post a 2.9 percent increase in net income in the first quarter of the year, driven by higher interest income and the steady expansion in their loan portfolios. Data from the Bangko Sentral ng Pilipinas (BSP) showed that...
Philippine banks’ bad loan ratio improved to 3.29 percent as of end-March, marking a three-month low as lending growth accelerated at a faster pace than the increase in soured loans. The latest Bangko Sentral ng Pilipinas (BSP) data showed that the banking industry’s gross non-performing loan...
Philippine banks must strengthen safeguards against money laundering and terrorism financing across all payment activities, the Bangko Sentral ng Pilipinas (BSP) ordered, warning that banks remain accountable for violations even when using third-party payment aggregators. Under Memorandum No....
The Philippine banking system remains largely insulated from the escalating geopolitical volatility in the Middle East, bolstered by record asset levels and capital buffers that have outpaced the nation’s broader economic growth, according to the Bangko Sentral ng Pilipinas (BSP). In its latest...
Philippine banks not enrolled in the Peso Real-Time Gross Settlement (RTGS) system have been allowed to directly withdraw high-value cash from the Bangko Sentral ng Pilipinas (BSP) during calamities and emergency situations. “Banks not registered in the Philippine Payment and Settlement System...
Philippine banks expect loan demand from Filipino entrepreneurs and households to remain steady in the second quarter of the year, according to the central bank, which said banks face a balancing act on lending rules amid the domestic spillover of the Middle East war. Results of the latest...
The Bangko Sentral ng Pilipinas (BSP) is overhauling its oversight of digital threats, ditching a legacy rating system in favor of a framework that forces banks to conduct more frequent and rigorous self-assessments of their cybersecurity defenses. This comes as BSP Governor Eli M. Remolona Jr....
The Philippines faces mounting economic and financial risks from climate change, with projected losses reaching as much as 13 percent of gross domestic product (GDP) by 2040 unless the country urgently scales up climate financing and aligns adaptation and mitigation efforts, according to state-run...
Philippine banks expanded their collective balance sheets to a record high in the first two months of the year, driven by the surge in lending and shifts into government securities as lenders maintained a cautious but growth-oriented posture. Preliminary data from the Bangko Sentral ng Pilipinas...
Senator Joel Villanueva has called on banks to strictly implement the Bangko Sentral ng Pilipinas’ (BSP) decision on waiving digital fund transfer fees alongside its loan relief measures for borrowers hit by the ongoing energy crisis. Villanueva, chairman of the Senate Committee on Banks,...
Eight Philippine lenders have secured spots on the World’s Best Banks 2026 list compiled by Forbes and Statista, a ranking where agile digital-native banks claimed the top positions even as traditional giants maintained their edge in trustworthiness among Filipino depositors. MariBank Philippines...
