Banking & Finance

In a groundbreaking move set to redefine the future of fintech in the Philippines, Fintech Alliance PH, the nation’s first and largest digital industry organization of startups and unicorns, is proud to announce the staging of the Philippines’ first and largest country pavilion called the “Bagong Pilipinas: The Philippine Country Pavilion” at the Singapore FinTech Festival during the Industry Collaboration …

The Bangko Sentral ng Pilipinas (BSP) delegation led by Deputy Governor Francisco G. Dakila, Jr. as Temporary Governor for the Philippines in the International Monetary Fund (IMF) and Monetary Board Member (MBM) V. Bruce J. Tolentino as Temporary Alternate Governor, attended the 2023 IMF and World Bank Group (WBG) Annual Meetings in Marrakech, Morocco from 09-15 October 2023.[1]  This year’s …

The Land Bank of the Philippines (LANDBANK) remains strong, adequately capitalized, and compliant with regulatory requirements of the Bangko Sentral and Pilipinas (BSP). As of June 2023, the Bank’s total assets reached P3 trillion or 7.9% higher than P2.8 trillion in the same period a year ago, while net income stood at P20.9 billion from loans and investments earnings, exceeding …

The government is confident that it will raise more than USD1 billion from its second offering of Retail Onshore Dollar Bonds (RDB 2), a top official of the Bureau of the Treasury (BTr) said. “It’s been three days, but we’re seeing the demand, we’re close to the USD1 billion initially that we targeted,” BTr Officer-in-Charge Sharon Almanza said during the …

Preliminary data indicated that outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP, expanded by 7.7 percent year-on-year in July from 7.8 percent in June. On a month-on-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs, rose by 0.6 percent, similar with the previous month. Outstanding loans to residents, …

The Bangko Sentral ng Pilipinas (BSP) continues to help strengthen rural banks (RBs) which promote countryside development by financing productive activities and supporting inclusive economic growth. BSP Deputy Governor (DG) Francisco G. Dakila Jr. highlighted this during the Post-State of the Nation Address (SONA) Philippine Economic Briefing (PEB) on 11 August 2023 in Cebu City. He said the BSP launched …

UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, is one of the fastest digital banks in the world to achieve profitability. It attained a triple-digit percentage growth in its net income during the first half of 2023 compared to the second half of 2022. The Aboitiz Group-led digital bank, which recently marked its first-year milestone in …

The Department of Budget and Management (DBM) and the Land Bank of the Philippines (LANDBANK) have collaborated anew for the use of the LANDBANK Government Purchase Card (GPC) for the faster and more efficient means to pay for goods and services. The LANDBANK GPC is a credit card that allows authorized DBM personnel to expedite payments for official expenses, by …

The Land Bank of the Philippines (LANDBANK) will be working with the Philippine Space Agency (PhilSA) and the Department of Science and Technology-Advanced Science and Technology Institute (DOST-ASTI) for the integration of space data and analytics to its financing strategies for the agriculture sector. PhilSA Director General Dr. Joel Joseph S. Marciano, Jr., LANDBANK Senior Vice President Elcid C. Pangilinan, …

Many Filipinos observe Ghost Month despite it being a Chinese cultural practice. During Ghost Month, the seventh month of the lunar calendar, folklore has it that the gates of heaven and hell and of the living are all open.  This year, Ghost Month will be from August 16 to September 14. It is believed ghastly spirits wander the world of …