32 banks collaborate with BSP to boost credit assessment for SME loans
The Bangko Sentral ng Pilipinas (BSP) has announced that 32 large and rural banks are now participating in the credit risk database (CRD) scoring model, which was developed with the Japan International Cooperation Agency (JICA) to facilitate better assessment of credit worthiness of small and medium-sized enterprises (SMEs) seeking loans.
BSP expands currency rate risk protection program to ease pressure in forex market
The Monetary Board has given the green light for operational amendments and an expansion of coverage for the Currency Rate Risk Protection Program (CRPP) in an effort to ease the pressures felt in the foreign exchange (FX) spot market and encourage more availments of the hedging facility.
Aboitiz family’s acquisition of Citi consumer business pays off: UnionBank profit jumps 30% in Q1
Union Bank of the Philippines, owned by the Aboitiz family, is poised for sustained profitability in 2023 after a strong first quarter.
New Study by Manulife Reveals Emerging Concerns About Health Longevity and Financial Costs Among Filipinos
A new study by Manulife shows that Filipinos are concerned about their health longevity, with heart disease, diabetes, and cancer as their top three main health fears, and the expense of treatment being their primary health management worry.
Tala Philippines and UnionDigital Bank team up for new e-wallet
Tala Philippines has partnered with Union Bank of the Philippines’ online lender to launch a new digital wallet that offers a range of financial services, including borrowing, paying, and sending money free of charge.
LandBank grants P224 million loan to T’Boli cooperative for pineapple production expansion
The Land Bank of the Philippines has provided a loan of P224 million to the T’Boli Farm Growers Multi-Purpose Co-operative to expand their pineapple and pineapple fiber production.
Bangko Kabayan named “Best MSMEs Development Bank” at 2023 International Finance Awards
Bangko Kabayan named “Best MSMEs Development Bank” by the UK-headquartered publication
GCash to offer ‘international buy load’ feature
GCash users will soon be able to purchase prepaid load for international telecommunications providers through the platform’s new partnership with Singaporean firm Fixed & Mobile.