Filipinos are demanding a shorter online application process when opening a bank account, with three in five expecting to answer 10 questions or less or they will abandon the process. This, while one in five Filipinos will back out from opening a bank account via a mobile app or website if asked...
SM Investments Corporation (SMIC) reported a 183 percent jump in consolidated net income to P20.1 billion in the first half of 2021 from the P7.1 billion earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said consolidated revenues rose 4 percent to...
China Banking Corporation has been named by the Bangko Sentral ng Pilipinas (BSP) as an outstanding stakeholder. This is in recognition of the Bank’s strong support for the BSP’s programs and initiatives to build an inclusive and increasingly digital Philippine economy. China Bank Chairman Hans...
China Banking Corporation reported a 39 percent jump in net income to P7.3 billion in the first half of 2021 despite higher provisions as its core businesses delivered strong performances. In a disclosure to the Philippine Stock Exchange, the bank said this translated to an improved return on...
Some senators on Thursday have called on the country’s banks to take responsibility for the operations of their “cash agents” to make sure that the banking public is protected, especially those who rely on “padala” or money sent by relatives to help them get by during the coronavirus...
Robinsons Bank (RBank), the financial services arm of the Gokongwei Group, has once again caught the eye of the global landscape with its various product innovations that have earned distinction in 2021. RBank was recognized as “Most Innovative Digital Banking Services – PH 2021”...
Tech firm Voyager Innovations raised US$167 million (P8.15 billion) to establish a digital bank via its financial technology arm, PayMaya Philippines (PayMaya). Existing shareholders PLDT Inc., global investment firm KKR and leading Chinese tech firm Tencent participated in the fund-raising, which...
Four major foreign banks will finance businessman Dennis Uy’s $460 million acquisition of the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the Malampaya gas field facility. Highly placed sources from Singapore...
Rizal Commercial Banking Corporation reported a 30 percent drop in unaudited consolidated net income to P1.6 billion for the first quarter of 2021 from the P2.3 billion earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said it sustained core business...
Senator Sherwin Gatchalian said there is a necessity for Filipinos to own their own bank account or become a virtual wallet holder so more people can engage in cashless transactions. Since digital payments have been the norm since the coronavirus (COVID-19) pandemic started last year, Gatchalian...
The stock market is seen to continue to be weighed down by the country’s COVID situation while investors will also be taking cues from the April inflation figure and corporate earnings announcements. “Next week, we still see a downward bias for the local market as we expect clouded economic...
China Banking Corporation posted a 61 percent jump in net income to P3.6 billion in the first quarter of 2021 for an improved return on equity of 13.4 percent and return on assets of 1.4 percent. “We are gratified by these very positive results and by the continued support of our customers and...
