Banking & Finance

Loans from universal and commercial banks (U/KBs) increased by 11.4 percent year-on-year in April, from 10.7 percent in March. After adjusting for seasonal fluctuations, outstanding U/KB loans were higher by 1.1 percent month-on-month, reflecting banks’ expectations of steady loan demand from businesses and households in Q2 2026. Outstanding loans to residents expanded by 11.8 percent year-on-year in April from 11.1 …

The Philippine banking system continued to expand its asset base, with total assets rising by nearly 12 percent as of April this year, according to data from the Bangko Sentral ng Pilipinas (BSP). Latest figures showed that total banking system assets reached ₱30.1 trillion in April, up 11.8 percent from ₱26.9 trillion recorded in the same period last year. However, …

Digital payments giant Visa has announced that eligible Visa debit and credit cardholders in the Philippines can now add their cards to Garmin Pay, allowing contactless payments through compatible Garmin smartwatches. In a statement last week, Visa said the new feature enables users to make secure and seamless transactions at any contactless-enabled terminal nationwide, expanding the country’s growing digital payments …

Security Bank has entered into a partnership with AC Health subsidiaries I.E. Medica and MedEthix to extend financing support to their nationwide network of dealers and distributors through a dedicated dealer financing program. In a statement last week, Security Bank said the initiative will provide accredited partners with access to short-term revolving credit lines and inventory financing solutions designed to …

Land Bank of the Philippines will waive convenience fees on select online government payments as part of efforts to make public transactions more affordable and accessible amid ongoing economic pressures. In a statement, LandBank said the zero-fee policy will cover eligible person-to-government (P2G) transactions made through QRPh-enabled channels from June 1 to December 31, 2026. The covered payment channels include …

The Bangko Sentral ng Pilipinas is urging businesses to actively promote the Personal Equity and Retirement Account (PERA) program, highlighting its tax incentives and long-term benefits for both employers and workers. BSP Deputy Governor Lyn Javier said in a statement that encouraging PERA participation can help employees build stronger retirement savings while also improving workplace retention and satisfaction. “By promoting …

The Land Bank of the Philippines has reduced its InstaPay transfer fee for person-to-person transactions from ₱15 to ₱8, in a move aimed at making digital financial services more affordable and widely accessible. The new rate took effect on May 21 and applies to transfers made through the Landbank Mobile Banking App and iAccess platform. To further ease costs for …

The Philippine Deposit Insurance Corporation (PDIC) will dispose of 44 real properties across Visayas and Mindanao through an electronic public bidding (e-bidding) scheduled next month, as part of its continuing effort to liquidate assets of closed banks. In a statement last week, PDIC said bid submissions will be accepted from 9 a.m. on June 17 until 1 p.m. on June …

The Metropolitan Bank & Trust Company is boosting returns for savers by increasing the interest rate of its Online Time Deposit (OTD) to as high as 5% per annum, as more Filipinos seek safer and more structured ways to grow their money amid rising living costs. The bank said the higher rate is intended to encourage disciplined saving and help …

East West Banking Corporation has gathered its Priority clients for an exclusive market briefing titled “Partnership Perspectives: Guiding You Through Today’s Markets,” aimed at providing timely investment insights amid global economic uncertainty. The session featured an outlook from Chief Investment Adviser Bede Gomez, who discussed major global risks such as geopolitical tensions, oil price fluctuations, and persistent inflation pressures that …