The central bank wants to further tighten its policy rate.
The BSP intends to be a “little aggressive” in tightening policy to taper off inflation to within its target range of 2%-4% in the following year. Governor Felipe Medalla said, as he signalled his preference for bigger rate hikes ahead. He further added that the BSP would vote to match the policy move of the U.S. Federal Reserve, which is likely to hike another 75 basis-point rate increase at its meeting next week.
In a strategic move to boost financial inclusion and innovation, Salmon welcomes Franchette Chingcuanco-Cardona as Chief Marketing Officer, leveraging her extensive experience in fintech and financial services.
OwnBank, following its 2021 digital transformation, reenters the Philippines market with an enhanced mobile banking platform offering one of the highest savings interest rates at up to 8% annually.
Rizal Commercial Banking Corporation provides Overseas Filipino Workers (OFWs) worldwide access to a variety of digital banking services through its recently launched RCBC Pulz app.
Standard Chartered Bank establishes its wholly-owned subsidiary, Standard Chartered Group Services Manila Inc., in the Philippines, citing the country’s youthful workforce and strategic regional location as key factors, with the new entity expected to be fully operational in 2024.
Packworks and 1Sari Financing Corp. have joined forces to provide secure and affordable inventory financing services to over 270,000 unbanked sari-sari stores in the Philippines, offering a starting credit line of P2,500 through an in-app service.
Metropolitan Bank & Trust Co. proudly announces its second consecutive ‘Best Bank of the Year’ accolade from ‘The Banker,’ a prestigious financial publication.
All rights reserved.
