Bangko Sentral ng Pilipinas reminds banks to prioritize customer due diligence amid fraud concerns
The BSP has issued a reminder to banks and financial institutions to strictly perform customer due diligence measures in response to the increasing incidents of fraud and scams, emphasizing the need for thorough verification of customer identities and potential enforcement actions for non-compliance.
Philippine banks’ total assets rise 11% in Q1, driven by deposits and loans
Total assets of the banking sector in the Philippines increased by 11 percent to P23.09 trillion in the first quarter of the year, driven by growth in deposits and loans, according to data from the Bangko Sentral ng Pilipinas (BSP).
“Too big to fail” banks to submit updated recovery plans by June 5
Philippine’s “too big to fail” banks are preparing to submit updated recovery plans by the first week of June, as mandated by the Bangko Sentral ng Pilipinas (BSP).
Philippine Banks instructed by BSP to Strengthen Anti-Money Laundering Frameworks
The Bangko Sentral ng Pilipinas has instructed banks to improve their anti-money laundering and counter-terrorist financing frameworks through stronger transaction monitoring and reporting systems.
Philippine banks’ reserve-compliant loans rise as relief measures extended
Banks’ loans used for alternative compliance to the reserve requirement (RR) in the Philippines have increased by 11.22 percent to P301.3 billion as of mid-February.
S&P Global’s Economic Risk Review: Philippines shows high resilience and low economic imbalances
Banks in the Asia Pacific region are well-positioned to withstand any potential contagion stemming from the collapse of US bank Silicon Valley Bank (SVB), according to S&P Global.
Fitch Ratings: Rising interest rates, inflation pose risks to PH banks, but buffers remain adequate
Philippine banks have maintained a strong asset quality, despite the rising interest rates, due to their sufficient liquidity buffers, according to Fitch Ratings.
Alternative Compliance to RR rule generates P254B loans to MSME
Banks release a total of P254 billion for MSMEs in 2022.
Philippine banks, no matter the pandemic, are at their healthiest in decades
The country’s banks, as represented by some of its largest members, are in no danger of falling over and by their demise take with them the hard-earned money of depositors.
Lending syndicate helping transform LGU hospital into a premier medical facility
State-run and private banks are extending a P5-billion syndicated loan to Life Nurture Inc. (LNI) to complete the proposed Makati Life Medical Center (Makati Life) under the public-private partnership (PPP) scheme.