BSP to further raise rates in August after surprise jumbo 75 bps hike
Bangko Sentral ng Pilipinas Governor Felipe Medalla is not ruling out the possibility of additional rate hikes next month after the jumbo 75 basis points increase in a surprise off-cycle meeting last Thursday.
Philippines ready for risks and challenges to economic recovery
The Philippines is fully prepared to address risks and challenges that threaten its economic recovery, according to Finance Secretary Benjamin Diokno.
RCBC provides credit to unbanked with data analytics
With the aid of data analytics, Rizal Commercial Banking Corp. (RCBC) headed by bankero Eugene Acevedo hopes to provide credit to the country’s unbanked population.
OFW remittances up 1.8% in May, slowest in 3 months
Cash remittances from overseas Filipino workers (OFWs) coursed through banks booked its slowest growth in three months at 1.8 percent in May on the back of the continued strengthening of the US dollar against other currencies including the peso.
DBP approves P660M funding for mini hydropower project in Nueva Ecija
State-run Development Bank of the Philippines (DBP) led by bankero Emmanuel Herbosa has approved P660-million in funding support for the development of the 4.6 megawatt Dupinga Mini Hydropower project in Gabaldon, Nueva Ecija in line with its thrust to support new and renewable energy sources.
Regulator to closely monitor PESONet and InstaPay transactions
The Bangko Sentral ng Pilipinas (BSP) is placing PESONet and InstaPay under close supervision and monitoring after being designated as Prominently Important Payment Systems (PIPS) to protect the public.
BSP issues certificate to Union Digital Bank
The Bangko Sentral ng Pilipinas (BSP) has given Union Bank of the Philippines led by bankero Edwin Bautista a certificate of authority to operate wholly-owned UnionDigital Bank Inc.
DOF says economy robust enough to absorb 75 bps rate hike
The economy continues to be robust to absorb the recent monetary policy rate increase by the Bangko Sentral ng Pilipinas (BSP), given the favorable expansion of economic activity early this year.