The Philippine peso breached the 62-per-dollar level for the first time on Friday, closing at a fresh record low as investors digested the latest policy signals from the central bank following its third interest rate hike of the year.
BDO Unibank Inc., the country’s largest lender, declared a third-quarter cash dividend of P1.10 per share, as stronger lending and improving asset quality continued to support its core businesses.
Fed officials issue inflation warnings at the Jackson Hole conference, signaling potential interest rates hikes as price pressures stay sticky.
The Philippine peso sank to a record closing low of 61.888 against the U.S. dollar on Thursday, even as the central bank raised interest rates for a third straight policy meeting to counter mounting inflation risks.
The Bangko Sentral ng Pilipinas raised its benchmark interest rate for a third straight meeting as persistent price pressures and risks from volatile oil prices, El Niño and potential wage increases cloud the inflation outlook.
BPI Wealth, the asset and wealth management arm of Ayala-led Bank of the Philippine Islands, has selected BlackRock’s Aladdin investment technology as it seeks to strengthen its portfolio management and advisory capabilities.
As a chronicler of developments in the Bangko Sentral ng Pilipinas (BSP), it’s reasonable to assume that “DG” means deputy governor.
My colleagues and I—alumni of the Bangko Sentral ng Pilipinas (BSP), the Department of Finance (DOF), and the financial markets beats—almost always look forward to having lunch or dinner with the premier resident of Room 501.
In the prevailing, highly volatile political climate—exacerbated by maritime bullying in the West Philippine Sea that creates an air of uncertainty—it is only natural for foreign investors to take a risk-averse stance toward the country.
Filipino BTS fans who missed out on tickets to the K-pop supergroup’s sold-out Bulacan concerts have another shot at seeing the seven-member act through a promotion by Bank of the Philippine Islands (BPI).
Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. called for strong governance and safeguards as banks increasingly adopt artificial intelligence, saying the technology should complement rather than replace human judgment.
The Bangko Sentral ng Pilipinas (BSP) has proposed requiring banks and other supervised financial institutions to integrate with the Philippine Statistics Authority’s National ID Authentication Services (NIDAS) to strengthen customer identity verification.
The Bangko Sentral ng Pilipinas (BSP) and Philippine Payments Management Inc. (PPMI) rolled out three new digital payment services aimed at expanding fund transfer limits and streamlining transactions for businesses and consumers.
The Bangko Sentral ng Pilipinas (BSP) is leaving open the possibility of a larger interest rate increase in August as it assesses inflation risks from a stronger dollar, wage increases, U.S. tariffs and renewed tensions in the Middle East.
The Bangko Sentral ng Pilipinas (BSP) has told banks and other supervised financial institutions to tighten scrutiny of casino junket operators, citing heightened risks of money laundering and other illicit financial activities.
Philippine banks expect stronger loan demand from businesses and households in the third quarter while keeping lending standards broadly unchanged, signaling continued support for credit growth despite geopolitical uncertainty.
The Social Security System is preparing to offer microloans to its members through a new program, marking its entry into the consumer lending market.
The Philippine peso breached the 62-per-dollar level for the first time on Friday, closing at a fresh record low as investors digested the latest policy signals from the central bank following its third interest rate hike of the year.
The Philippines retained its investment-grade A- credit rating after Japan Credit Rating Agency Ltd. (JCR) affirmed its rating with a stable outlook, citing resilient domestic demand, low external debt and ample foreign exchange reserves.
BPI Wealth, the asset and wealth management arm of Ayala-led Bank of the Philippine Islands, has selected BlackRock’s Aladdin investment technology as it seeks to strengthen its portfolio management and advisory capabilities.
The Social Security System is preparing to offer microloans to its members through a new program, marking its entry into the consumer lending market.
Rizal Commercial Banking Corp (RCBC) is pushing its digital deposit platform to capture retail savings ahead of the fourth-quarter holiday spending season, as inflation continues to strain Philippine household budgets.
I-Remit Inc. vice chairman Ben Tiu is taking a more prominent role at the listed remittance firm after its emergency board approved a binding agreement with Surepay Technologies Inc. and authorized him to execute documents for the transaction.
Listed remittance firm I-Remit Inc. has delayed by one week a board meeting needed to approve a proposed P20 million investment by Surepay Technologies Inc., after pushing back the term of its temporary board of directors.
Philippine National Bank (PNB), controlled by the family of ultra bilyonaryo Lucio Tan, has extended a P6.215 billion co-financing package to Singapore-based Levanta Renewables for a solar and battery energy storage project in Iloilo.
Bank of the Philippine Islands (BPI) has co-financed a P6.21 billion loan facility for Singapore-based Levanta Renewables to develop a large-scale solar and battery storage project in Iloilo, expanding the bank’s sustainable lending portfolio.
Asia-Pacific central banks, including the Bangko Sentral ng Pilipinas (BSP), have agreed to set up a task force to strengthen information-sharing and improve the detection and prevention of digital scams across the region.
Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. is pushing for closer cooperation among Asian regulators as cybersecurity threats, climate risks and geopolitical tensions increasingly test the financial system.
Artificial intelligence could amplify costly corporate mistakes when built on incomplete or unreliable information, making trusted data increasingly critical as companies automate more decisions, CIBI Information Inc. said.
Filipino travelers can now receive eligible overseas tax refunds directly in their GCash wallets in Philippine pesos across 16 countries, the e-wallet operator said.
Bank of the Philippine Islands is encouraging Android users to link their debit cards to Google Wallet as the Ayala-led lender expands digital payment options for customers.
Digital transactions accounted for 64.7% of retail payment volume in the Philippines last year, surpassing a government target as adoption of QR payments and electronic fund transfers accelerated.
Security Bank Corp. has unveiled a three-year strategy aimed at capturing new growth opportunities in the Philippine banking sector, with a focus on wealth management, entrepreneur banking, and corporate and institutional banking.
Union Bank of the Philippines, controlled by the Aboitiz family, is injecting P1 billion in additional capital into its thrift banking arm City Savings Bank Inc. to support its growth and business operations.
The Bangko Sentral ng Pilipinas recognized 10 institutions in South Luzon for supporting its currency management, digital payments and financial literacy programs.
The Bangko Sentral ng Pilipinas has rolled out technical assistance to help qualified rural banks replace legacy IT systems with cloud-based core banking platforms.
The country’s fintech and digital banking players are entering a new phase of cooperation, as industry groups unveiled coordinated programs designed to make financial health a measurable outcome of digitalization rather than a long-term aspiration.
Bank of the Philippine Islands led by bankero TG Limcaoco graced the listed bank’s national customer service conference.
The Bangko Sentral ng Pilipinas (BSP) warned the public against dealing with Bangko Maharlika Ltd., which operates as “The Bank of Humanity,” saying the entity is neither authorized nor supervised by the monetary authority and is not registered with the Securities and Exchange Commission.
The Bangko Sentral ng Pilipinas (BSP) has warned the public about fraudulent messages using the name of Monetary Board member Benjamin E. Diokno to solicit donations for fake charitable causes.
State-run Development Bank of the Philippines (DBP) has partnered with the Department of Agrarian Reform (DAR) to widen access to financing for agrarian reform beneficiaries and farmer groups nationwide.
State-owned Land Bank of the Philippines said it has disbursed more than ₱4.2 billion in loans under its Agrisenso Plus program, benefiting more than 15,300 farmers, fishers, agrarian reform beneficiaries, cooperatives and rural enterprises nationwide as of the end of May.
The Securities and Exchange Commission (SEC) has fined online lender Inclusive Credit Lending Inc. P1.03 million for charging excessive interest rates and engaging in unfair debt collection practices.
State-run Government Service Insurance System (GSIS) said it is ready to provide emergency loans to members and pensioners affected by Tropical Storm Maymay and the enhanced southwest monsoon once their areas are declared under a state of calamity.
Government Service Insurance System (GSIS) has refunded P9.06 billion in loan amortizations to more than 500,000 members and pensioners under the expanded Balik Ginhawa 2 loan relief program within 24 days of its rollout.
State-run Government Service Insurance System (GSIS) has earmarked nearly P4.4 billion in emergency loans for 166,789 members and pensioners in nine areas in Luzon affected by recent typhoons and the southwest monsoon.
