Banking & Finance

The Asian Development Bank (ADB) reaffirmed its support for the Philippines’ economic expansion through policy reforms and infrastructure financing, ADB Country Director Andrew Jerries said Thursday at the Arangkada Philippines Forum in Pasay City. “As a shareholder, our role is to help,” Jerries said, noting ADB’s nearly six decades of partnership with the Philippines. “It doesn’t stop our work, but …

The Bangko Sentral ng Pilipinas (BSP) has launched an investigation into unusually large cash movements in the financial system, which may be linked to alleged anomalies in government flood control projects. “This flood control scandal was as much of a shock to us as it was to you. But we’re working hard to fix things,” BSP Governor Eli M. Remolona …

The Philippine Deposit Insurance Corporation (PDIC) is rolling out its e-Portal project to modernize services and make them more accessible, the state deposit insurer announced last week. Designed as a one-stop, web-based platform, the initiative will integrate PDIC’s data systems and service processes, while also upgrading its website for improved responsiveness. The platform will feature seamless fund transfers, paperless payments …

Legazpi Savings Bank (LSB), a subsidiary of the Bank of the Philippine Islands (BPI), has opened three new branch-lite units in northern Luzon to make financial services more accessible to teachers. The new outlets are located in San Fernando, La Union; La Trinidad, Benguet; and Tuguegarao City, Cagayan. Together, these areas have more than 85,000 teaching and non-teaching personnel and …

The Bangko Sentral ng Pilipinas (BSP) has set a limit of ₱500,000 per banking day for cash transactions, in a move to curb money laundering and other risks linked to heavy cash use. Under Circular No. 1218, series of 2025, issued on Sept. 18, transactions exceeding ₱500,000—or its equivalent in foreign currency—must be carried out through traceable channels such as …

Japan Credit Rating Agency (JCR) has reaffirmed the Philippines’ investment-grade rating, highlighting the country’s sustainable economic growth and the soundness of its banking system. In its latest report released Thursday, JCR pointed to robust domestic demand, low external debt, ample foreign exchange reserves, and a stable financial system as key drivers of the country’s “A-” credit rating with a “stable” …

Digital finance platform Atome and digital lender Maya Bank have entered into a ₱2.75 billion loan channeling partnership to expand Filipinos’ access to credit. In a statement last week, Maya Bank said the deal, signed on Sept. 3, aims to provide responsible, risk-managed, and transparent flexible payment options, particularly for underserved customers. “We are deeply honored to partner with Maya …

The Philippines’ balance of payments (BOP), which accounts for the transactions of the country with the rest of the world, registered a surplus of US$359 million in August 2025. This is higher than the US$88 million surplus recorded in August 2024. The BOP surplus reflected the Bangko Sentral ng Pilipinas’ (BSP) net income from its investments abroad. This surplus helped …

The Philippine Deposit Insurance Corp. (PDIC) on Friday cautioned the public against fake official receipts (ORs) being used in transactions involving closed banks under liquidation. According to PDIC, the counterfeit ORs carry the old PDIC logo, contain misspellings, falsified signatures of personnel, and deviate from the standard format of genuine PDIC-issued receipts. The agency reminded clients to transact only with …

Foreign direct investments (FDIs) posted net inflows of USD376 million in June, down 17.8 percent from USD457 million in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported last week. The decline was mainly due to non-residents shifting their equity capital investments from USD85 million inflows in June 2024 to USD57 million outflows this year. This was …