Banking & Finance

Driven by its robust financial performance in 2024 and sustained momentum into 2025, the Land Bank of the Philippines (LANDBANK) has declared P33.53 billion in cash dividends to the National Government — the highest in the Bank’s history. This record-setting cash dividend is expected to fund priority infrastructure and socio-economic programs, reaffirming LANDBANK’s critical role in advancing national development. “LANDBANK’s …

Driven by its robust financial performance in 2024 and sustained momentum into 2025, the Land Bank of the Philippines (LANDBANK) has declared ₱33.53 billion in cash dividends to the National Government — the highest in the Bank’s history.  This record-setting cash dividend is expected to fund priority infrastructure and socio-economic programs, reaffirming LANDBANK’s critical role in advancing national development.  “LANDBANK’s …

The Philippine Deposit Insurance Corporation (PDIC) has officially expanded its deposit insurance coverage to include Islamic banks (IBs) and Islamic banking units (IBUs), ensuring that depositors in these institutions enjoy the same level of protection as those in conventional banks. In a statement released Wednesday, PDIC confirmed that Islamic bank deposits are now insured up to the Maximum Deposit Insurance …

The Bangko Sentral ng Pilipinas (BSP) has joined forces with the Microfinance Council of the Philippines, Inc. (MCPI) and the Rural Bankers Association of the Philippines, Inc. (RBAP) to broaden financial education initiatives for underserved communities. Through this partnership, BSP, MCPI, and RBAP will provide training to microfinance institutions and rural banks, equipping them to deliver financial learning sessions aimed …

Despite global uncertainties, the Philippine economy remains resilient and is poised for moderate growth, according to the International Monetary Fund (IMF). Following a series of consultations in Manila from May 14 to 20, IMF Mission Chief Elif Arbatli Saxegaard reported that the country’s gross domestic product is projected to expand by 5.5% in 2025 and 5.8% in 2026. “The Philippine …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said on Friday that at least two additional interest rate cuts could be implemented this year, supported by easing inflation and improved economic conditions. “So far, the hard data says we have plenty of room to cut, especially since inflation is low,” Remolona said during a press briefing at the BSP …

The Bangko Sentral ng Pilipinas (BSP) warns the public regarding the fraudulent use of BSP Deputy Governor Chuchi G. Fonacier’s image to offer online jobs. The BSP said it has received reports of unsolicited Viber messages from a sender using the Deputy Governor’s photo, offering jobs in an e-commerce company with daily earnings ranging from P500 to P5,000. The BSP …

Zeno Ronald R. Abenoja took his oath of office as the new Bangko Sentral ng Pilipinas (BSP) Deputy Governor  for the Monetary and Economics Sector before BSP Governor Eli M. Remolona, Jr. last May 19 at the BSP Head Office in Manila. Abenoja, who succeeds DG Francisco G. Dakila, Jr., will lead BSP’s monetary policy, economic research, and statistical operations. …

The Bangko Sentral ng Pilipinas (BSP) will temporarily halt the operations of its Coin Deposit Machines (CoDMs) starting June 17 as part of an initiative to reassess its strategy for re-circulating idle coins. In an advisory issued Friday, the BSP announced that the machines, currently located in select malls across the Greater Manila Area, will be suspended to allow a …

The total resources of the Philippine financial system grew by 6.7 percent year-on-year as of end-March 2025, according to data released Friday by the Bangko Sentral ng Pilipinas (BSP). Figures show that combined resources of banks and non-bank financial institutions reached P34.29 trillion in March, up from P32.11 trillion in the same period last year. Banking institutions accounted for a …