The Bangko Sentral ng Pilipinas (BSP) is expected to deliver a quarter-point interest rate cut next month, but an economist warned the move would not restore lost government credibility or offset the impact of corruption amid expectations of further economic slowdown. Union Bank of the Philippines...
The total resources of the Philippine financial system soared to a record ₱35.58 trillion in the first nine months of the year, driven by the recent lowering of key borrowing costs. According to preliminary data from the Bangko Sentral ng Pilipinas (BSP), the increase of ₱2.18 trillion, or 6.5...
The Philippine gaming sector’s high-speed growth was decelerated sharply in the third quarter, with industry-wide gaming revenue (GGR) plateauing at ₱94.51 billion, a nominal decline from ₱94.61 billion a year earlier. In a statement on Tuesday, Nov. 11, Alejandro H. Tengco, Pagcor chairman...
The local banking industry’s total earnings climbed in the first three quarters of the year, driven by the sharp increase in income generated from both core lending activities and fee-based businesses, despite higher provisioning for future losses. Data from the Bangko Sentral ng Pilipinas (BSP)...
Sluggish Philippine economic growth, compounded by a wider trade deficit and a less interventionist Bangko Sentral ng Pilipinas (BSP), is expected to weigh on the peso’s recovery, potentially overriding the lift from expected easing of United States (US) interest rates. Dutch financial firm ING...
Fresh highs in gold reserves pushed the Philippines’ gross international reserves (GIR)—the country’s stock of United States (US) dollars and other foreign currencies—to its highest level in one year, its strongest since October 2024. Preliminary data from the Bangko Sentral ng Pilipinas...
Online gaming firm DigiPlus Interactive Corp. saw its third-quarter profit plunge after new government regulations forced e-wallet providers to cut off in-app access to licensed gaming platforms.
In a disclosure to the Philippine Stock Exchange, DigiPlus reported a 59 percent drop in net income...
The Bank of the Philippine Islands (BPI) expects its card products to be ready for tokenization by next year, positioning the Ayala-led lender for the anticipated local launch of Apple Pay and Google Pay. Jose Teodoro Limcaoco, BPI president and chief executive officer (CEO), said the bank 's...
Shortly after arriving from South Korea, President Marcos visited the tomb of his father at the Libingan ng mga Bayani on All Souls ' Day. Marcos, together with First Lady Liza Araneta-Marcos proceeded to the Libingan ng mga Bayani in Taguig City to pay respects to the late former president...
The Philippine Army (PA) paid tribute to the nation’s heroes, soldiers, national artists and scientists, and former presidents during a wreath-laying and synchronized candle lighting ceremony at the Libingan ng mga Bayani (LNMB) as part of this year’s All Saints’ Day and All Souls’ Day or...
Ayala-led Bank of the Philippine Islands (BPI) is confident it will achieve full compliance with the Bangko Sentral ng Pilipinas’ (BSP) required standards for its fraud management system (FMS) by mid-2026. Jon Paz, BPI enterprise information security officer and data protection officer, told...
The Bangko Sentral ng Pilipinas (BSP) has lifted a foreign ownership limit on retirement funds, allowing most personal equity and retirement account unit investment trust funds (PERA UITFs) to purchase central bank securities and diversify the savings of overseas Filipinos. The BSP, under Circular...
