Banking & Finance

BDO backs infra initiatives to drive PH economic expansion

BDO Unibank, Inc. (BDO) continues to help drive economic progress through strategic investments in the development of critical infrastructure, particularly in mass transportation and energy sectors.  Recognizing the pivotal role of robust infrastructure in enticing foreign investors, BDO cultivates key partnerships aimed at bolstering domestic mobility through expressways, roads, bridges, and enhancing international and domestic connectivity through airport rehabilitation and …

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LANDBANK backs Philippine Army co-op with P10-B loan line

Land Bank of the Philippines (LANDBANK) has extended a P10-billion rediscounting line to support the Philippine Army Finance Center Producers Integrated Cooperative (PAFCPIC) and its members serving in the Armed Forces of the Philippines (AFP).  The state-run Bank expanded the Cooperative’s previous P8 billion credit line to P10 billion to sufficiently augment working capital and enable PAFCPIC to better serve …

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BSP notes growth of bank lending, slowing of domestic liquidity in April

Bank lending of universal and commercial banks (U/KBs) grew at a faster pace in April this year while domestic liquidity growth slowed, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data released by the BSP on Friday showed that banks’ outstanding loans, excluding those placed in the central bank’s reverse repurchase facility, grew by 9.6 percent in April …

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BSP underscores need for capital market development

Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. said recently the development and the deepening of the Philippine capital markets are vital to the economy. “Hand in hand with the government, we are pushing on multiple fronts to deepen our capital markets. Such deepened markets will enhance our transmission mechanisms for monetary policy and make our financial system …

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DSWD taps LANDBANK to deliver crisis aid

Land Bank of the Philippines (LANDBANK) has been tapped by the Department of Social Welfare and Development (DSWD) for the efficient and timely delivery of financial relief to crisis-affected individuals, including those in remote and underserved communities. Under DSWD’s Assistance to Individuals in Crisis Situation (AICS) Program, LANDBANK will serve as the Department’s disbursement partner and will engage financial service …

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DBP grants Cabuyao P4-B loan for infra build-up

State-owned Development Bank of the Philippines (DBP) has granted a P4-billion credit assistance to the city government of Cabuyao to finance key public infrastructure projects in the first-class component city of Laguna, a top official said. DBP President and Chief Executive Officer Michael O. de Jesus said the loan was approved under the Bank’s Assistance for Economic and Social Development …

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BDO group pumps financial blood into renewable energy projects

Alternergy Holdings Corp. secured another local to finance the construction of its renewable energy projects, which are aligned with the government’s goals of increasing green energy supply in the country. The company obtained a P2-billion green corporate loan from BDO Unibank Inc., with BDCO Capital & Investment Corp. as the mandated lead arranger for the transaction. Prior to the said …

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LANDBANK delivers P2.5-B loans in support of rice farmers

Amid the devastating impact of El Niño on local harvests, Land Bank of the Philippines (LANDBANK) remains aggressive in extending financial support to rice farmers as total loans released through the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) reached P2.5 billion as of 30 April 2024.  In partnership with Department of Agriculture (DA), LANDBANK has been …

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BSP statement on reports regarding six employees

The BSP is sharing the following information to clarify and respond to recent news  reports on six employees on the staff of certain Monetary Board members. We  hope this clarifies, within the bounds of confidentiality and fairness due to ongoing  proceedings, the steps the BSP has taken since first receiving reports on the issue,  to ensure that any erring employee …

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BDO Foundation, PMAP host waebinar series on financial literacy

Staying true to its mission of expanding the reach of financial education initiatives nationwide, BDO Foundation, together with the People Management Association of the Philippines (PMAP) and Empower and Transform Philippines, hosted a four-part webinar series tackling fundamental finance knowledge for human resource professionals. The webinar series aim to provide a focused understanding of financial markets, investing principles, and ethical …

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