The Bangko Sentral ng Pilipinas (BSP) will remit around P62 billion over two years to support the Maharlika Investment Fund (MIF), with an initial P31 billion dividend payment, despite no longer being obligated to remit dividends to the government, according to BSP Governor Eli M. Remolona.
The GSIS has provided an initial P100 million insurance payout to PhilPost for the fire that damaged the Manila Central Post Office building, emphasizing the need for government agencies to insure their assets for swift recovery.
Philippine inflation in July reached a 16-month low of 4.7%, primarily due to decreased housing, water, gas, and fuel prices.
Despite a 4.7% decrease in July’s inflation rate, the Bangko Sentral ng Pilipinas (BSP) is prepared to adjust its monetary policy stance to counter potential price increases and stabilize the peso exchange rate, import prices, and overall inflation.
Caritas Health Shield, a health maintenance organization (HMO), has been placed under receivership by the Insurance Commission due to financial difficulties and failure to meet net worth requirements.
Lynette Ortiz, LandBank’s President and Chief Executive Officer, affirms the bank’s readiness for a potential merger with the DBP, aiming to create a larger government bank, while DBP Chairman Dante Tiñga remains opposed due to perceived risks.
The Development Bank of the Philippines (DBP) has completed the disbursement of a P1-billion interest rate subsidy to 264 local government units (LGUs) as part of their Covid-19 response and recovery efforts.
BPI-Robinsons Bank merger is sett for January 2024, pending regulatory approval, according to BPI President TG Limcaoco.
Aboitiz’s UnionDigital Bank partners with AirAsia’s airasia Superapp and BigPay to offer travel financing options, allowing travelers to book flights through flexible financing schemes and pay-later arrangements.
Metrobank has partnered with Bonifacio Global City (BGC) to offer an immersive AI experience, “Wisdom of Da Vinci,” featuring iconic works of Leonardo da Vinci.