The Asian Development Bank (ADB) will provide support to Filipino families affected by Typhoon Odette in Visayas and Mindanao. In a statement, the Manila-based multilateral institution said on Wednesday, Feb. 9, that it has approved a $2-million grant to support the emergency response to the...
Just in time for Chinese New Year If there's one thing we all prioritize and value, it's the extra service we get as clients. And these customers were in a for a treat as East West Bank hosted a special event for their Priority clients. To welcome the Chinese New Year, these clients were invited to...
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved the upgrade of the commercial banking license of Philippine Bank of Communications (PBCOM) to that of a universal bank. In a disclosure to the Philippine Stock Exchange, PBCOM asid the license upgrade provides additional...
Open banking transforms the customer experience in ways that have never been before. Financial inclusion is rising. In 2017, 23 percent of Filipino adults had bank accounts. Fast forward to 2021, it jumped to 53 percent. The ideal is that people, regardless of net worth,...
The Bank of the Philippine Islands posted an 11.5 percent growth in net income to P23.88 billion last year, driven by lower provisions and record-high fee income. In a disclosure to the Philippine Stock Exchange, the bank said profits jumped to P6.4 billion in the fourth quarter of 2021, 51.2...
Union Bank of the Philippines reported a 9 percent improvement in net income to P12.6 billion in 2021, translating to above-industry return on equity of 12.0 percent. In a disclosure to the Philippine Stock Exchange, the bank said its net revenues were at an all-time high of P45.1 billion, up 7...
Bank of the Philippine Islands (BPI) has raised P27 billion, exceeding its initial target size of P5 billion for its latest bond offer by more than 5 times, due to strong demand from investors. In a disclosure to the Philippine Stock Exchange, the firm said the bonds have been issued as part of...
media Artificial intelligence (AI) could be a game changer in financial services because it can be used to develop customer-centric solutions in financial services, said Union Bank of the Philippines (UnionBank) Head of AI Center of Excellence Dr. Adrienne Heinrich. "Besides looking at AI solutions...
A group of teachers sought the assistance of the Department of Education (DepEd) to help resolve the issue of unauthorized online transactions reported by several teaching personnel. (Photo from Unsplash) The Teachers’ Dignity Coalition (TDC) said that as of Jan. 25, it has already submitted an...
The Asian Development Bank (ADB) announced on Wednesday, Jan. 26, that it will use blockchain technology to make cross-border securities transactions in Asia and the Pacific more efficient and secure. In a statement, the Manila-based multilateral institution said the ADB is working with leading...
The government was awarded a $52.5 million payout for losses the country suffered due to Typhoon Odette, the Department of Finance (DOF) announced on Tuesday, Jan. 25. Many Filipinos affected by Super Typhoon Odette are still in need of help up to this day In a statement, the DOF said the...
The Department of Education (DepEd) on Monday, Jan. 24, said that it is taking steps to validate the report on the alleged hacking of some bank accounts of public school teachers. (Photo from Unsplash) This, after the Teachers’ Dignity Coalition (TDC), said that it has been receiving reports from...
