BSP plans to expand digital bank licenses soon
Bangko Sentral ng Pilipinas (BSP) is considering reopening the application window for digital bank licenses sooner than planned to meet the increasing demand for digital banking services in the Philippines.
BSP chief pledges climate change response and “greening” of financial sector
BSP Governor Eli M. Remolona vows to address climate change and implement 11 strategies, including climate-related financial disclosures, to enhance the Philippines’ financial sector’s resilience and fight against climate change impacts.
Southeast Asian Countries urged to embrace parametric insurance
Experts from the Asian Development Bank and the National University of Singapore are encouraging Southeast Asian countries to adopt parametric insurance for coastal resilience and climate change mitigation.
HMO industry records P320 million loss in Q1
The health maintenance organization (HMO) industry in the Philippines experienced a net loss of P320 million in the first quarter of the year as benefits and claims by its members increased significantly.
Southeast Asian Countries urged to embrace parametric insurance
Experts from the Asian Development Bank and the National University of Singapore are encouraging Southeast Asian countries to adopt parametric insurance for coastal resilience and climate change mitigation.
ADB sticks to 6% growth forecast for the Philippines, citing resilient consumer spending
The Asian Development Bank (ADB) maintained its growth forecast for the Philippines at 6.0% in 2023 and 6.2% in 2024, citing resilient consumer spending and robust investment.
HSBC highlights potential reforms for SONA mention to boost investor sentiment
Banking giant HSBC suggests that mentioning three potential reforms on Monday’s State of the Nation Address (SONA) could signal the government’s commitment to resolving pressing challenges and improving the macroeconomic fundamentals of the Philippines economy.
UnionBank launches first of its kind dollar-dispensing ATMs in the Philippines
Union Bank of the Philippines, Inc. (UnionBank) has introduced dollar-dispensing ATMs in its headquarters and branches in Greenhills and Cebu, becoming the first local bank to offer this service.
Landbank approves P50-Billion investment in Maharlika
Finance Secretary Benjamin Diokno announced on Friday that the Land Bank Board has given its approval for a P50-billion investment in Maharlika Investment Corporation, as mandated by Republic Act 11954. Diokno cited that the implementation of the Maharlika Investment Fund is expected to be completed before the end of the year.
UAE-based Astra Tech acquires majority stake in Filipino online lender Y Finance Inc.
UAE-based tech company, ASTRA Tech LLC (Astra), has acquired a 90% stake in a local Filipino online lender, Y Finance Inc., to expand its presence in the Philippines’ financial service market.