Banking & Finance

The Power Sector Assets and Liabilities Management (PSALM) Corporation has remitted a record-breaking P8.96 billion in dividends to the national government, the Department of Finance (DOF) announced. In a statement last week, the DOF said Finance Secretary Ralph Recto formally received the remittance during a ceremonial turnover held Monday at the DOF office in Manila. “We will make sure every …

Foreign-currency-denominated loans extended by banks dipped by 0.2 percent in the first quarter of 2025, according to data released by the Bangko Sentral ng Pilipinas (BSP). The BSP reported last week that outstanding loans issued by banks’ Foreign Currency Deposit Units (FCDUs) stood at USD15.78 billion in Q1 2025, slightly down from USD15.82 billion in the fourth quarter of 2024. …

BDO Unibank Inc. (BDO) has teamed up with ACEN, the Ayala group’s listed energy platform, to finance what will become the largest onshore wind power project in the Philippines. The project is poised to supply clean and reliable energy to the Luzon grid, cut carbon emissions, and create jobs in host communities. It also marks a major step in ACEN’s …

The Bangko Sentral ng Pilipinas (BSP) is addressing the risk of users of online gambling on digital platforms, in line with BSP’s financial consumer protection agenda and financial health goals. BSP has released a draft of a circular for review and feedback by different stakeholders. The circular proposed to require BSP-supervised institutions (BSIs) – primarily banks and electronic money issuers …

The Bangko Sentral ng Pilipinas (BSP) launched last July 3, 2025 a book series, The Governors Speak, featuring select speeches of former governors of the Philippine central bank. The Governors Speak offers a unique perspective on the transformation of central banking in the Philippines through the words of former governors. The series provides insights into the Bank’s evolving role during …

The country’s total gross savings climbed by 16.6 percent to P7.70 trillion in 2024, up from P6.60 trillion the previous year, according to the latest figures released by the Philippine Statistics Authority (PSA). Gross savings represent the difference between gross disposable income and final consumption expenditure. Among the four major institutional sectors, non-financial corporations accounted for the bulk of the …

The Bangko Sentral ng Pilipinas (BSP) has been named Currency Manager of the Year by Central Banking, a renowned London-based institution that provides insights and training to more than 140 central banks and their partners across the globe. In a statement released last week, the BSP shared that the award was announced on March 20, 2025, with the formal ceremony …

Nestor V. Tan, President and CEO of BDO Unibank Inc., has been elected President of the International Monetary Conference (IMC) for the 2025–2026 term. His election took place during the IMC’s annual meeting in Brussels, Belgium. The IMC is a prestigious, non-profit organization made up of the Chairpersons and CEOs of 58 of the world’s largest financial institutions from 31 …

HSBC economist Aris Dacanay expects the Bangko Sentral ng Pilipinas (BSP) to deliver a third and final policy rate cut for the year this October, trimming its benchmark interest rate by 25 basis points to 5 percent. This follows back-to-back rate cuts by the BSP’s Monetary Board, including a 25-basis-point reduction last June 20 that brought the reverse repurchase rate …

The Philippine Deposit Insurance Corporation (PDIC) will hold an electronic public bidding (e-bidding) for 73 real estate assets from closed banks on July 23 to 24, the agency announced Friday. The properties up for sale include a wide mix of lots: 20 vacant agricultural, 20 residential with improvements, 19 vacant residential, five mixed vacant residential/agricultural, four mixed residential/agricultural with improvements, …