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November 28, 2023

BSP Bankero among PES’ new trustees-elect

BSP’s Tristan A. Canare was recently elected as a trustee for the Philippine Economic Society, along with other esteemed individuals, including Catherine R.C. Almaden, Roehlano M. Briones, Laarni C. Escresa, Alice Joan G. Ferrer, and Marites M. Tiongco, for a two-year term beginning January 2024.

GCash reinforces security with new feature

GCash collaborates with global insurance leader Chubb to introduce ‘Send Money Protect,’ a safeguard against scams, boosting user confidence and peace of mind in digital transactions, with the full rollout expected by November 13.

PNB streamlines departments to fortify retail lending segment

Philippine National Bank (PNB) is consolidating departments to establish a consumer finance sector, focusing on strengthening its retail lending business, as part of strategic efforts to optimize operations and address challenges, including a 12% decline in earnings during the first half of the year.

Divergent views among analysts on BSP’s potential rate move

Analysts are split over whether the Bangko Sentral ng Pilipinas (BSP) will raise its current 6.5 percent policy rate next week, with Citi predicting a 25 basis points hike to 6.75 percent, BPI foreseeing a rate hold at 6.5 percent, and HSBC expecting the BSP to maintain the benchmark rate while potentially reducing banks’ reserve requirement in the third quarter of 2024.