State-run Land Bank of the Philippines (LANDBANK) is lending P500 million to the local government unit (LGU) of Pangasinan largely to help the province buy more palay direct from farmers. A statement showed that LANDBANK signed a P500-million loan agreement with Pangasinan LGU particularly to...
Editorial The central bank’s efforts to convince banks to release more funds to pandemic-hit borrowers especially the micro, small and medium enterprises (MSMEs) finally paid off in August when bank lending shifted from a contraction to a growth for the first time since December 2020. Faster...
With the prolonged pandemic, the country's net external liability position increased 3.5 percent to P676.6 billion in the first quarter from same period last year of P653.8 billion due to higher net foreign liabilities by the general government and non-financial corporations (NFCs), a report from...
Banks' non-performing loans (NPL) ratio still remained unchanged at 4.51 percent in August from the previous month, July, the Bangko Sentral ng Pilipinas (BSP) reported. The total bad loans reached P491.93 billion in August or 61.28 percent from P304.99 billion the same month last year. Compared to...
Finance Secretary Carlos G. Dominguez III clarified that the renovation of the former headquarters of the Land Bank of the Philippines in Makati is part of the infrastructure works being undertaken by the Department of Public Works and Highways (DPWH) since 2019. Finance Secretary Carlos G....
The World Bank trimmed its growth forecast for the Philippines this year and expects the country's economic activity to return to pre-pandemic level by 2023 yet because the government is likely to miss the goal of vaccinating most of its population by the end of 2021. Based on the World Bank East...
The value of all ongoing foreign-assisted projects of the government increased by almost half last year after President Duterte augmented the country’s coronavirus response, the National Economic and Development Authority (NEDA) reported. In a statement, Socioeconomic Planning Secretary Karl...
*STORY UPDATE* The freeze orders of the Court of Appeals on the accounts of Julie Hao Gamboa, also known as Kimberly, has since been lifted. Based on the documents provided recently by Ms. Gamboa, her bank branch notified her of the lifting of the frozen accounts on December 9, 10, and 13, 2021,...
Bank of the Philippine Islands, through BPI Foundation, was recognized as the “Best Bank for Corporate Social Responsibility (CSR) in the Philippines" by the Asiamoney Best Bank Awards 2021. This is for the bank’s role in the country's push for financial inclusivity and the support it has given...
The Anti-Money Laundering Council may have hinted Thursday, Sept. 23 that it has started the “first stage” in determining possible money laundering activities involving Pharmally Pharmaceuticals. House of Representatives plenary This after Quirino Rep. Junie Cua, vice chairman of the House...
Big banks in the country remained well-capitalized despite the prolonged pandemic-induced crisis, the Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin E. Diokno said that big banks’ capital adequacy ratio (CAR), a measure of lenders’ solvency, improved to 17.6 percent in the first...
Union Bank of the Philippines (UnionBank) was named "Best Bank for SMEs" at the recent Asiamoney Best Bank Awards 2021, besting many other Philippine banks to take home the prestigious accolade for the second year in a row. The "Best Bank for SMEs" accolade is awarded by Asiamoney to banking...
