The Bank of the Philippine Islands (BPI) marked another milestone with the opening of BPI Wealth Singapore, a wholly owned subsidiary located in Marina Bay. The new office strengthens BPI’s presence in Asia and connects Filipino and regional clients to one of the world’s leading financial hubs. The launch gathered top officials from the Philippines and Singapore, led by BPI …
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Money sent home by overseas Filipinos (OFs) continued to climb, rising by 3.2 percent in August 2025 to USD2.98 billion from USD2.89 billion in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported Wednesday. Remittances from land-based workers reached USD2.35 billion, while those from sea-based Filipinos totaled USD626 million. The sustained inflows brought total cash remittances for …
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The Bangko Sentral ng Pilipinas (BSP) is carefully studying a proposal to demonetize the ₱500 and ₱1,000 bills to curb their alleged use in illegal activities, Governor Eli Remolona said last week. Remolona described the suggestion from former Finance Secretary Cesar Purisima as a “tantalizing proposal,” but warned that such a move could cause more harm than good. “It’s not …
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BDO Unibank Inc.’s (BDO) BDO Kabayan Facebook Page received recognition at the 21st Philippine Quill Awards for excellence in Social Media Strategy. The award highlights BDO’s Alagang Kabayan advocacy—providing accurate, timely, and relevant financial advice and updates that help overseas Filipinos (OFs) and their families manage daily transactions and achieve long-term goals. “We built BDO Kabayan Facebook Page to be …
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LANDBANK continues to strengthen its support for farmers and agricultural stakeholders with the regional rollout of the AGRISENSO Plus Lending Program in Palawan, offering low-interest financing and capacity-building assistance to more farming communities nationwide. Over 1,400 farmers from the municipalities of Aborlan, Bataraza, Brooke’s Point, Narra, Quezon, Rizal, and Sofronio Española attended the launch held on October 10, 2025, at …
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The Bangko Sentral ng Pilipinas (BSP) reduced policy rates by another 25 basis points on Thursday, citing a benign inflation outlook but weaker economic growth prospects. The latest adjustment brings the BSP’s Target Reverse Repurchase (RRP) rate to 4.75 percent, with the overnight deposit and lending facility rates now at 4.25 percent and 5.25 percent, respectively. The central bank has …
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The Land Bank of the Philippines (LandBank) has introduced a new lending program aimed at empowering micro, small, and medium enterprises (MSMEs) with affordable financing options and capacity-building support. Called the Innovative Financing Thrust Towards Inclusive National Growth thru Micro, Small, and Medium Enterprises (LIFTING MSMEs) Lending Program, the initiative enables borrowers to fund working capital, business expansion, equipment upgrades, …
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An economist has partly attributed the surge in foreign direct investments (FDIs) in July 2025 to the implementation of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. Signed into law on November 11, 2024, CREATE MORE seeks to attract more investors to establish operations in the Philippines by offering incentives …
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The World Bank has maintained its Philippine economic growth projections for 2025 and 2026, citing strong domestic demand and structural reforms that continue to support expansion. In its October East Asia and Pacific Economic Update, the World Bank forecast the Philippine economy to grow by 5.3 percent in 2025 and 5.4 percent in 2026, outpacing growth expectations for China, Indonesia, Malaysia, and Thailand. The …
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Foreign-currency-denominated loans granted by banks in the second quarter of the year inched up by 0.9 percent to USD15.93 billion from USD15.78 billion in the previous quarter, data from the Bangko Sentral ng Pilipinas (BSP) showed. Year-on-year, foreign currency deposit unit (FCDU) loans were higher by 1.9 percent. These are loans extended by local banks’ FCDUs or branches of foreign …
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