Business NEWS

British giant HSBC said the Bangko Sentral ng Pilipinas (BSP) will likely start raising its benchmark rate within the first quarter of 2022 and to increase it three times, bringing the current two percent policy rate to 2.75 percent by the end of next year.

Global bank HSBC is beefing up its lending portfolio for sustainability-anchored projects, including green energy technologies, that could help accelerate the fulfillment of the ‘net zero’ carbon emission goals enshrined under the Paris Agreement.

Glaiza de Castro couldn’t help but express disappointment over the “stress” that her “hacked” credit card has been given her. 

The central bank is expected to reduce banks’ reserve requirement (RR) ratio by 200 basis points (bps) this year but it will not likely lead to a pick up in lending activities, not when the COVID-19 virus and its emerging variants are still here, according to HSBC economists.

British bank HSBC (Hongkong  and Shanghai Banking Corp.) is marking 145 years of doing business in the Philippines and it intends to stay here for a much longer time as it helps the country cope with a global pandemic and promote sustainable recovery in a post-COVID-19 world.

The Bangko Sentral ng Pilipinas (BSP) is expected to keep the benchmark rate unchanged when it meets on November 19, the second to its last two Monetary Board policy meetings for the year.

NEW YORK (AFP) – Shares in major banks including HSBC, Deutsche Bank and JPMorgan Chase were hammered Monday following allegations they had handled huge sums of dirty money for almost 20 years.