Banking & Finance

LANDBANK reaffirms its financial strength and stability, following the Bank’s P50-billion contribution to the Maharlika Investment Fund (MIF), and remains fully committed to its mandate as a reliable partner to the national government’s inclusive development agenda.   The state-run Bank has consistently met and exceeded the minimum requirements of the Bangko Sentral ng Pilipinas (BSP) for Capital Adequacy Ratio (CAR)—a critical …

The Bangko Sentral ng Pilipinas (BSP) issued a warning last week about “text hijacking,” a tactic used by fraudsters to execute smishing attacks by mimicking legitimate SMS Sender IDs. In an advisory, the BSP explained that text hijacking allows fraudsters to infiltrate legitimate text message threads, making their messages seem credible as they blend with authentic communications from trusted sources. …

President Ferdinand R. Marcos Jr. led the historic unveiling of the first Philippine polymer banknote series on Thursday. The President described the introduction of the polymer banknotes as a groundbreaking step embodying the nation’s strength, ingenuity, and forward momentum. “Today, I stand before you with pride as we unveil the first Philippine polymer banknote series— a groundbreaking step that embodies …

The Philippine economy is poised for moderate growth acceleration in 2024 and 2025, driven by easing inflation and gradual normalization of monetary policy, according to the International Monetary Fund (IMF). “Growth is expected to accelerate in 2024-25, supported by disinflation, and gradually declining borrowing costs as monetary policy normalizes,” stated the IMF following its 2024 Article IV consultation with the …

The Bangko Sentral ng Pilipinas (BSP) and the Department of Energy (DOE) led the “Roundtable Discussion on Unlocking Financing for the Green Energy Auction Program (GEAP)” on 12 December 2024 at the BSP Head Office in Manila. The event gathered policymakers, financial institutions, and energy industry players to explore market reforms and innovative financing instruments for renewable energy (RE) development. …

The Asian Development Bank (ADB) has approved a USD 30 million loan to support public-private partnership (PPP) projects in the Philippines. The loan will replenish the Project Development and Monitoring Facility (PDMF), managed by the Public-Private Partnership Center (PPPC), which aids in preparing and structuring PPP projects. It will also enhance the capacity of government agencies and local government units …

Fitch Ratings predicts that the non-performing loan (NPL) ratio of Philippine banks will improve in 2025, driven by strong economic growth and lower interest rates. According to Fitch, “We expect NPL ratio improvements across five out of 14 larger APAC (Asia Pacific) markets in 2025 before rising to nine in 2026.”  The Philippines, along with India and Vietnam, is expected …

Finance Secretary Ralph G. Recto championed the central role of sound corporate governance anchored in sustainability in fostering inclusive growth across Asian economies during the Organization for Economic Cooperation and Development (OECD)-Asia Roundtable on December 11, 2024. “For we believe that a strong corporate governance framework is the very foundation upon which a thriving investment climate and well-functioning capital markets …

Security Bank and its investment banking arm, Security Bank Capital, received multiple accolades from The Asset Benchmark Research team for 2024, including top rankings in several categories.  The awards, presented recently at the Four Seasons in Singapore, recognized the top performers in the financial services industry. Security Bank earned second place for Top Investment House – Philippines and Top Sellside …

The Bangko Sentral ng Pilipinas (BSP) said the new polymer banknotes to be released in the first quarter of 2025 will be circulated alongside the existing paper banknotes. “Paper banknotes shall remain legal tender,” the BSP said in a statement last week. In a recent social media post, the BSP announced the issuance of the First Philippine Polymer banknote series. …