Hot money outflows soar to $351.87 million in April
The net outflows of short-term foreign investments or “hot money” widened in April to $351.87 million from only $70.26 million the previous month.
HSBC aims to boost sustainable finance efforts in the Philippines
HSBC plans to increase its focus on financing sustainable or green projects in various sectors in the Philippines, particularly in the areas of manufacturing, services, and infrastructure, as the country offers attractive growth prospects and a growing interest in sustainability banking.
InLife reports 35% growth in consolidated profits as economy reopens
Insular Life (InLife) announces a 35% increase in consolidated net income to P5.2 billion, driven by strong consumer spending and improved sales performance following the reopening of the economy amid the pandemic.
DBP-Landbank merger fate rests with Supreme Court, says DBP Chairman
DBP Chairman Dante O. Tiñga believes that the Supreme Court will have the final say on the proposed merger between the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines, with stakeholders potentially challenging the merger before the court.
Philippine banks’ total assets rise 11% in Q1, driven by deposits and loans
Total assets of the banking sector in the Philippines increased by 11 percent to P23.09 trillion in the first quarter of the year, driven by growth in deposits and loans, according to data from the Bangko Sentral ng Pilipinas (BSP).
BSP, BDO collaborate on free online personal finance course to boost financial literacy in the Philippines
The Bangko Sentral ng Pilipinas (BSP) and BDO Unibank Inc.’s BDO Foundation have partnered to develop a free online personal finance course, aimed at enhancing financial literacy and accessibility for Filipinos, covering topics such as financial planning, budgeting, and investment management.
UnionBank recognized for IP Awareness and Protection
At the culminating activity of the National Intellectual Property Month (NIPM), banking trailblazer UnionBank of the Philippines (UnionBank) was recently recognized by the Intellectual Property Office of the Philippines (IPOPHL) for its support for intellectual property (IP) awareness and protection.
Security Bank wins for the third year as Best for High-Net-Worth customers
Security Bank Corporation (PSE:SECB) was recognized anew as the Philippines’ Best for High Net Worth (HNW) Clients at the 2022 Asiamoney Asia Private Banking Awards—making it three consecutive yearly wins for the Bank.