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November 28, 2023

Manulife Philippines and MCBL earn prestigious ‘Golden Arrow’

Manulife Philippines and Manulife China Bank Life Assurance Corp. (MCBL) have been recognized with Golden Arrow Awards for their outstanding corporate governance performance, affirming their dedication to upholding high standards of governance and fostering trust in their operations.

Philippine banks see 9.2% growth in investments H1

Philippine banks have significantly increased their investments, with a 9.2% growth to reach P6.6 trillion in the first half of 2023, contributing to the stability and profitability of the financial system, according to the Bangko Sentral ng Pilipinas (BSP).

Seven banks slashed from BSP’s ‘major banks’ list

The BSP has reduced the list of universal and commercial banks from 45 to 38, with the removal of six foreign banks and the country’s only Islamic bank, Al Amanah, in a move that is expected to be explained by the BSP soon.

PSBank posts P3.37 billion earnings surge despite challenges

Despite facing headwinds, Philippine Savings Bank (PSBank) reported an 18 percent increase in net income to P3.37 billion for the first nine months of 2023, driven by core business expansion, particularly in the auto loan portfolio, and effective expense management.