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March 02, 2024

BSP walks the talk and invests in BIS-organized fund

The Bangko Sentral ng Pilipinas (BSP), on leading by example, has put some of its resources in a so-called green bond fund organized by the Bank for International Settlements (BIS).

The fund is a US dollar-denominated open-ended fund that puts its money in so-called green or environment friendly projects. This fund has an advisory committee that includes the BSP.

“The participation in the fund is expected to provide the BSP with an additional source of return and investment diversification that is consistent with our prudent approach to reserve management,” BSP Governor Benjamin E. Diokno said.

“The BSP’s decision to invest in the fund bolsters our sustainability efforts and supports our sustainable central banking agenda,” Diokno explained.

The fund supports environmentally responsible projects in the Asia- Pacific region and provides a platform for central banks to invest their reserves in high-quality green bonds that meet internationally accepted standards.

The BSP previously invested a total of $550 million in the BIS US Dollar Green Bond Fund (BISIP G1).


Security Bank posts net income of PHP9.1 billion in 2023

Security Bank Corporation (PSE: SECB) posted net income of PHP9.1 billion in 2023. Total revenues grew 8% year-on-year to PHP43.0 billion. Net interest income increased 19% to PHP34.7 billion. Net interest margin for the full year was 4.49%, higher compared to 4.23% in 2022. Total non-interest income was at PHP8.2 billion. Service charges, fees and commissions grew 15% to PHP6.1 billion, led by increase in fees from credit cards, remittances (which include Instapay fees) and bancassurance.

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