UnionDigital Bank to launch high-frequency lending product in 2024
UnionDigital Bank, the digital arm of UnionBank of the Philippines, is set to launch a high-frequency lending product in 2024, allowing users to configure tenors through their app.
SSS Enlists LandBank and DBP as fund managers
The Social Security System (SSS) has enlisted LandBank and DBP as fund managers for a P2 billion investment, with the banks’ Trust Banking Group receiving P1 billion each in two tranches.
Chinabank clinches top honors in customer engagement awards
China Banking Corporation (Chinabank) receives The Big Shift Champion of the Year award at the Excellence in Customer Engagement Awards 2023, recognizing its successful transition to engagement banking.
Landbank extends P4.3 Billion for Pangasinan development initiatives
Land Bank of the Philippines (LandBank) has approved a P4.3-billion financial assistance for diverse projects in Pangasinan, as part of a P6-billion omnibus term loan agreement inked earlier this year.
Maya Bank slams gambling links amid legislative scrutiny
Maya Bank Inc. and Maya Philippines Inc. strongly deny allegations of involvement in gambling operations raised by lawmakers, including House Deputy Majority Leader Erwin T. Tulfo.
World Bank approves $500-M loan to enhance Philippines’ disaster preparedness
The World Bank has approved a $500 million standby calamity loan for the Philippines, aiming to minimize economic impact and enhance resilience in education, human settlements, and health systems.
DTI and BSP collaborate to promote cyber hygiene for e-wallet users
The Department of Trade and Industry (DTI) and the Bangko Sentral ng Pilipinas (BSP) emphasize the importance of cyber hygiene and consumer awareness in cashless transactions during the first-ever Cashless Expo 2023.
BSP chief expects inflation within 2%-4% target in 2024
BSP Governor Eli M. Remolona Jr. anticipates inflation to mostly remain within the 2%-4% target in 2024, despite potential temporary breaches in the second quarter.
BSP holds steady at 6.5% amidst inflation risks
The Bangko Sentral ng Pilipinas (BSP) maintains its benchmark interest rate at 6.5%, emphasizing a sufficiently tight policy stance despite higher risk-adjusted inflation forecasts, while remaining vigilant to potential upside risks.