Banking & Finance

By Riza Lozada The Asian Development Bank’s (ADB) board has approved a $300 million (P15 billion) loan and a $500,000 (P25 million) technical assistance grant to support the government’s efforts to develop the domestic capital market to help finance infrastructure.

Investors continue to consider the country as a sweet spot,  government officials and company executives said during the Euromoney Philippine Investment Forum.

State-owned Development Bank of the Philippines (DBP) recently received the Visa Inclusive Growth Award 2017 for its role in promoting financial inclusion in the country.

By Riza Lozada An uptrend in prices will likely result to upward adjustments in the Bangko Sentral ng Pilipinas’ (BSP) key rates, studies said.

FWD Life Insurance Philippines President and Chief Executive Officer Peter Grimes was lauded as an “Outstanding Leader in Asia” by the Asia Corporate Excellence and Sustainability (ACES) Awards. At the awarding ceremonies held on October 26, 2017 at InterContinental Hotel, Singapore, Peter received the honor alongside five other CEOs from across Asia. He was given the award for demonstrating sound …

Strong growth in loans and deposits boosted Rizal Commercial Banking Corp’s (RCBC) net income by 19 percent in the third quarter to P1.1 billion from a year ago.

Listed Asia United Bank (AUB) reported a 19.3 percent growth in unaudited consolidated net income for the year up to September to P2.2 billion.

By Riza Lozada The initial operations of the Overseas Filipino Bank (OFB), a bank devoted to overseas Filipino workers (OFW), will proceed as scheduled in January 2018, following the assurance by the Bangko Sentral ng Pilipinas (BSP) that the approvals from the necessary clearing institutions will be secured before the end of the year, the Department of Finance said in …

With financial transactions becoming more and more interconnected and complex risks have evolved and magnified and these developments from a financial regulator’s perspective, mandate a transition from stand-alone to system-wide oversight.

By Riza Lozada Top lender Metropolitan Bank and Trust Company (Metrobank) reported an unaudited consolidated net income of P13.2 billion in the first nine-months of 2017, up five percent from last year.