The Department of Finance (DOF) has called on the Asian Development Bank (ADB) to take a lead role in the recovery efforts of Asia-Pacific economies battered by shock waves from the COVID-19 pandemic and further weighed down by the impact of the prolonged Russia-Ukraine conflict.
The Bangko Sentral ng Pilipinas (BSP) is leveraging on artificial intelligence (AI) as it explores applications of machine learning techniques, particularly in the areas of natural language processing, nowcasting, and banking supervision.
China Banking Corp. led by bankero William Whang gifted shareholders with P1.50 per share combined regular and special dividends, reflecting the bank’s confidence in its underlying strength and future prospects.
Security Bank Corp. led by bankero Sanjiv Vohra and SB Finance Inc. has partnered with AstraZeneca Philippines to offer funding access for cancer patients in the country.
The thrift banking industry remains stable and resilient with robust capitalization and liquidity, improving asset quality, and sustained financing of households, micro, small and medium enterprises (MSMEs), and the agri-agra sector.
State-run Land Bank of the Philippines headed by bankero Cecilia Borromeo has released P1.51 billion in loans to a total of 9,126 rice farmers and cooperatives as of end March this year through the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF).
The national government’s outstanding debt went up by 17.7 percent to a new all-time high of P12.68 trillion in end March this year from P10.77 trillion in end March last year on higher borrowings to fund COVID-19 response measures.
Bank of the Philippine Islands (BPI) led by bankero TG Limcaoco expects the Bangko Sentral ng Pilipinas (BSP) to deliver an aggressive rate hike in one meeting on the back of quickening inflation and the series of rate hikes by the US Federal Reserve.
China Banking Corp. headed by bankero William Whang registered a 37 percent jump in net income to P4.9 billion in the first quarter of the year from P3.6 billion in the same quarter last year on the back of sustained core business growth.
Inflation kicked up to its highest level in more than three years hitting 4.9 percent in April from four percent in March mainly brought about by the higher annual increase in the index for food and non-alcoholic beverages, transport as well as housing, water, electricity, gas, and other fuels.