The Philippines experienced a suspected digital fraud rate of 8.2% in H1 2023, surpassing the global average, according to TransUnion.
The Government Service Insurance System (GSIS) bolsters Alternergy’s renewable energy initiatives with a P1.45 billion investment, marking a strategic move towards the Philippines’ National Renewable Energy Program.
President Marcos appoints Rodolfo Del Rosario Jr. as the new GSIS Chairman, bringing his expertise in anti-money laundering and microfinance, while also naming Ma. Merceditas Gutierrez and others as GSIS board of trustees members.
RCBC’s Executive Vice President and Chief Innovation and Inclusion Officer, Lito Villanueva, receives the ‘Circle of Excellence Awardee’ title at the Asia CEO Awards for his pivotal role in digital finance and financial inclusion.
Banks collectively extend ₱12 billion in three separate loan facilities to Globe Telecom, supporting debt refinancing, capital funding, and general corporate requirements.
China Banking Corp. reports a 10% increase in net income to P16.2 billion in Q3 2023, citing sustained growth in core businesses, reduced loan loss provisions, and strong financial indicators.
Manulife Financial Corporation reports a significant 21% year-to-date increase in net income to $3.4 billion in Q3 2023, attributing the rise to core earnings growth, a one-time tax-related benefit, and notable improvements in core earnings per share and return on equity.
Union Bank of the Philippines shines at The Digital Banker’s GRB Awards 2023 for its pioneering digital initiatives, winning Best Smart Payments Solution and securing accolades for Tech Up Pilipinas advocacy.
Insurtech provider Igloo alerts consumers to the rising cyberthreats in the Asia Pacific region, urging proactive steps for secure online purchases and introducing an Online Shopping Insurance product to provide coverage against fraud and scams.
Philippine National Bank (PNB) reports a 19% increase in consolidated net income to P13.5 billion in Q3 2023, driven by growth in core lending, fee-based operations, and improved net interest margin.