Banking & Finance

Low-risk, affordable investments just a few clicks away with the OFBank Mobile App

The Overseas Filipino Bank (OFBank) is giving Filipinos and their families, here and abroad, a simple and more convenient way to get into investing through its mobile banking app.  In 2020, the country’s first branchless digital-only bank started offering the Bureau of the Treasury’s (BTr) Premyo Bonds2, Retail Treasury Bonds (RTBs) and Retail Dollar Bonds (RDBs), in line with the …

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LANDBANK bags three ADFIAP awards

The Land Bank of the Philippines (LANDBANK) garnered three Merit Awards during the 45th Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Annual Meeting on 26 October 2022 at the Conrad Hotel in Pasay City. “These recognitions from the ADFIAP highlight LANDBANK’s expanded coverage as a development institution. We will continue our efforts to help address climate …

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LANDBANK AgriSenso underscores government support for ARBs, ARBOs

The Land Bank of the Philippines (LANDBANK) gathered small farmers and fishers, agrarian reform beneficiaries (ARBs), and their organizations to discuss the National Government’s development plan towards building sustainable and resilient agrarian reform communities. Department of Agrarian Reform (DAR) Bureau of Agrarian Reform Beneficiaries Development (BARBD) Director Dr. Ronald M. Gareza, CESO IV and LANDBANK Program Management Department I Head, …

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BSP standardizes business loan forms to enhances MSME Credit Access

The Bangko Sentral ng Pilipinas (BSP) has standardized the micro, small, and medium enterprise (MSME) business loan application form of BSP-supervised financial institutions (BSFIs) as part of its broader efforts to enhance the availability of financial products and services and foster greater financial inclusion. BSP Circular No. 1156 issued on 30 September 2022 provides a borrower-centric Standard Business Loan Application …

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Buy a Malayan Travel Master conveniently on the GCash app

With more Filipinos pushing through with their overseas and inbound travel plans, there has been a significant need for travel insurance policies that cover both trip cancellations and medical requirements. This demand has prompted Malayan Insurance Co. Inc. to partner with GCash in offering their Travel Master insurance policy through the GInsure platform. Through the partnership, would-be travelers can easily …

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LANDBANK makes ‘ayuda’ claiming easier for 3.4-M pensioners

Social pensioners can now conveniently receive their cash grants and perform other banking transactions, as the Land Bank of the Philippines (LANDBANK) continues to ramp up the distribution of Prepaid Cards to vulnerable sectors. Lucy Cabalan can now conveniently receive cash grants and perform other banking transactions, such as cashless purchases and online fund transfers, by using the LANDBANK Prepaid …

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BSP defaces coins ‘Unfit for Circulation’

To maintain the integrity of Philippine currency, the Bangko Sentral ng Pilipinas (BSP) retired 519.93 metric tons of unfit, demonetized, mutilated, and counterfeit (UDMC) coins through defacement. The defacement process was undertaken beginning October 2021 until September 2022. Coin defacement, done via machine, involves a process that alters the surfaces of coins to prevent them from being recirculated. The defaced coins may then be recycled into …

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BSP UNDERSCORES NEED TO SMOOTHEN FX MOVEMENTS

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla underscored the need to smoothen movements in the foreign exchange (FX) rate during the “The Asset 17th Philippine Summit” held recently in Taguig City. “You got to come in and reduce the volatility,” explained Governor Medalla, who highlighted that BSP’s participation in the market centers on promoting FX rate stability and the country’s …

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BSP continues to safeguard price stability amid challenging times

In various meetings held in Washington, D.C., USA, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla (in photo, center) said that the BSP is focused on bringing inflation back to a target-consistent path, in line with its core mandate of price stability. The meetings were held at the sidelines of the International Monetary Fund (IMF) and World Bank Group …

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More LANDBANK customers can transact from 7-Eleven ATMs sans service fees

Prepaid cardholders of the Land Bank of the Philippines (LANDBANK) can now transact for free from ATMs in selected 7-Eleven convenience stores.   In addition to holders of LANDBANK Regular ATM Cards and Debit Cards, customers can also use their LANDBANK Prepaid Cards to perform cash withdrawal and balance inquiry free-of-charge in 1,980 7-Eleven ATMs in Metro Manila, CALABARZON, Pampanga, Bataan …

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