Digital-only commercial bank CIMB Bank Philippines delivered impressive financial results for the first half of 2023, with its revenues growing to nearly 240% from its figures in the same period last year. The bank's exceptional performance can be attributed to the growth in its loan...
The Department of Finance (DOF) has called upon international financial institutions to bolster their response capabilities and undertake comprehensive reforms amid the global economic recovery. Finance Secretary Benjamin E. Diokno said the combined impact of the pandemic, its aftermath, and the...
The local stock market continues to recover lost ground as funds rebalance their portfolios while some investors buy up cheaper stocks. The main index rose 30.05 points or 0.49 percent to close at 6,172.84 with the advance led by Conglomerates although Miners were left behind. Volume jumped...
Globe Telecom, the communications unit of Ayala Corporation, has raised P15 billion from term loan facilities with Metropolitan Bank & Trust Company (Metrobank). In a disclosure to the Philippine Stock Exchange (PSE), the firm said the loans will be used to finance its capital expenditures...
This week, the local stock market is seen to be swayed by quarter’s end window dressing, the changes in the stock exchange indices, and the confidence survey results recently released by the Bangko Sentral ng PIlipinas (BSP). “The local market was able to post gains last week amid a rebound...
The Philippine National Bank (PNB) announced that taipan Dr. Lucio C. Tan has moved up as its Chairman Emeritus while his wife and Director Carmen K. Tan will join the bank’s Advisory Board. PNB Chairman Emeritus Dr. Lucio C. Tan In a disclosure to the Philippine Stock Exchange (PSE), the bank...
F rom left: the Asian Banker Resource Director, Christian Kapfer; EastWest SVP & Credit Cards Head, Ms. Aylwin Mia P. Tamayo; EastWest President, Jacqueline S. Fernandez; EastWest Executive Vice President & Consumer Lending Head, Lawrence L. Lee; and The Asian Banker Resource Director...
State-owned Development Bank of the Philippines (DBP) has remitted P25 billion to the Bureau of Treasury (BTr), which represents the Bank’s share in the initial seed capital in the Philippines’ pioneering sovereign wealth fund, a top official said. DBP President and Chief Executive Officer...
The local stock benchmark fell below 6,100 to its lowest level in more than a year as investors worry over interest rates amid rising inflation. The main index plunged 76.60 points or 1.25 percent to close at 6,047.97 with the rate-sensitive Property sector leading the retreat...
Digital-only bank CIMB Bank Philippines and Visa, a global leader in payments technology, have sealed a strategic partnership to work together to make financial solutions easier to access and more innovative for all Filipinos. CIMB Bank Philippines Chief Executive Officer Vijay Manoharan and Visa...
The Department of Public Works and Highways has further strengthened the country’s capability in effectively responding to "The Big One”, which refers to a strong earthquake that may hit Metro Manila and nearby areas and is believed to result in mass casualties. DPWH Secretary Manuel Bonoan...
The Securities and Exchange Commission (SEC) is collaborating with international organizations to beef up its enforcement capabilities in pursuit of its mandate to protect the public from securities fraud and other forms of investment scams. SEC Philippines, in partnership with the US SEC and...
