Banking & Finance

Assistant Governor (AG) Amenah F. Pangandaman, who also serves as Chief of Staff to the Governor, Executive Offices Coordinator, and Concurrent Head of the Strategic Communication and Advocacy, has accepted the invitation of President-elect Ferdinand Marcos, Jr. to serve as the incoming Secretary of the Department of Budget and Management (DBM). “It is my honor to serve the Filipino people during this critical …

Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno reported that the Philippines’ outstanding external debt (EDT) remains at a prudent level as its ratio to Gross Domestic Product (GDP) recorded at 27.0% at end-December 2021. The ratio remains one of the lowest as compared to other ASEAN member countries. The country’s EDT expressed as a percentage of GDP is a …

The Bangko Sentral ng Pilipinas (BSP) encourages Filipinos to take full advantage of the benefits offered under the Personal Equity and Retirement Account (PERA).  “Compared to other retirement and investment products, PERA provides contributors or investors exclusive tax benefits which enable them to accumulate their retirement savings at a faster pace,” according to BSP Governor Benjamin E. Diokno. Income earned from PERA …

The BSP remains vigilant over the possible implications of the unfolding Ukraine-Russia conflict on the Philippine economy. We expect the ongoing conflict to continue to exert upward pressures on key international commodity prices, particularly oil and wheat. Meanwhile, the ongoing conflict could also cloud prospects for global trade and investment, as uncertainty spills over into financial markets through higher volatility …

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno (top) said that the next administration should continue to prioritize investments in infrastructure, human capital, healthcare, and agriculture to ensure economic continuity during the Manila Times Economic Forum. The BSP will retain its macroeconomic strategy irrespective of the election result and will work with the new administration to sustain the recovery. …

The Bangko Sentral ng Pilipinas (BSP) and the National Bureau of Investigation (NBI) led enforcement operations in Pampanga and Tarlac on 19 January 2022 that resulted in the arrest of four suspects. During the operations, a total of 161 counterfeit Philippine currency banknotes and 78 fake foreign banknotes were confiscated. The four suspects were charged with violating Article 168 in relation …

The Land Bank of the Philippines (LANDBANK) and the Technical Education and Skills Development Authority (TESDA) renewed their partnership program to finance the livelihood needs of Technical Vocational Education and Training (TVET) graduates. Initiated in 2019, the LANDBANK-TESDA partnership program was extended through a virtual signing of a Memorandum of Agreement (MOA) led by TESDA Director-General Secretary Isidro S. Lapeña …

Preliminary data show that outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP expanded anew for the sixth consecutive month at a quicker pace of 8.5 percent year-on-year in January from 4.8 percent (revised) in the previous month. Bank lending improved further as easing COVID-19 restrictions and the continuous vaccine rollout supported …

The Progressive Women Agrarian Reform Cooperative (PWARC) has grown from a small organization in this remote Capiz town, into a successful and thriving cooperative that provides financial access to support its farmer-members. PWARC was officially established in 1999, with the co-op’s headquarters located in the Municipality of Dumarao, Capiz. In 1998, PWARC was initially formed by 20 female founding-members from …

To provide reliable and quality healthcare services amid the ongoing COVID-19 pandemic, the Land Bank of the Philippines (LANDBANK) and MEDICUM The Medical Center, Inc. (MTMCI) have signed a P300-million loan agreement for the construction of a hospital building and support facilities with modern medical equipment in Tabuk City. The new hospital will be completed next year and will be …