Banking & Finance

The Court of Tax Appeals (CTA) has granted the Bangko Sentral ng Pilipinas’ (BSP) petition for a refund of ₱24,684 in documentary stamp taxes (DST) it paid in connection with the foreclosure of mortgaged properties of the Rural Bank of San Miguel. In a nine-page decision released Friday, the CTA Special First Division ruled that under its charter, the BSP …

Bank lending grew at a slightly slower pace in July while domestic liquidity picked up, the Bangko Sentral ng Pilipinas (BSP) reported Friday. Data showed outstanding loans of universal and commercial banks (U/KBs) expanded by 11.8 percent year-on-year, easing from 12.1 percent in June. The amount of outstanding loans stood at P13.57 trillion. Lending to residents rose by 12.4 percent …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. has once again been named one of the world’s best central bank governors, earning an “A-” rating in Global Finance magazine’s Central Banker Report Cards 2025. This is his second consecutive year on the prestigious list. The report card evaluates central bankers from nearly 100 countries, assigning grades from A+ (highest) …

The Bangko Sentral ng Pilipinas (BSP) and the Department of Labor and Employment (DOLE) have signed a memorandum of understanding (MOU) to strengthen data sharing for better policymaking. The MOU was signed on Aug. 29 at the BSP head office in Manila, the central bank said in a statement Thursday. “The MOU strengthens our ability to see the whole picture. …

The Development Bank of the Philippines (DBP) has extended a P815-million term loan to Bright Homes & Realty Corporation for the construction of three residential buildings in Sta. Maria, Bulacan. DBP President and Chief Executive Officer Michael de Jesus said Thursday the funding was granted under the bank’s Credit Facility for the 4PH Program (BAHAY-4PH), which supports the Marcos administration’s …

State-owned Land Bank of the Philippines (LandBank) will extend P60 billion to the Power Sector Assets and Liabilities Management Corporation (PSALM) to help advance the government’s energy sector reform program. In a statement last week, LandBank said the amount forms part of a P100-billion Syndicated Term Loan Facility for PSALM, with the remaining P40 billion to be provided by the …

The Bangko Sentral ng Pilipinas (BSP) reduced its benchmark interest rate by another 25 basis points on Thursday, bringing the reverse repurchase rate to 5 percent. Rates on the overnight deposit and lending facilities were likewise lowered to 4.5 percent and 5.5 percent, respectively. The BSP has now cut policy rates by a cumulative 150 basis points since last year. …

The national government’s budget deficit eased in July as revenue growth outpaced spending, the Bureau of the Treasury (BTr) reported Thursday. The shortfall dropped 34.42 percent to P18.9 billion from P28.8 billion a year earlier, as total revenues rose 3.26 percent to P472.3 billion, driven mainly by higher tax collections. The Bureau of Internal Revenue (BIR) collected P335 billion, up …

State-owned Land Bank of the Philippines (LandBank) and the Philippine National Police (PNP) have amended their memorandum of agreement (MOA) to simplify pension processing for police retirees. Signed on Aug. 14 at the PNP Headquarters in Quezon City, the updated MOA allows active PNP personnel to retain their existing LandBank payroll accounts as their pension accounts upon retirement. This removes …

Japanese debt watcher Rating and Investment Information, Inc. (R&I) has affirmed the Philippines’ investment-grade credit rating of “A-” with a stable outlook, a move seen by the Department of Finance (DOF) as a strong vote of confidence from international investors. “Isa itong tagumpay na dapat ipagdiwang ng bawat Pilipino. Dahil ibig sabihin nito, nananatiling mataas ang tiwala ng mga credit …