Banking & Finance

The World Bank has approved an $800 million loan to support the Philippines in accelerating its clean energy transition, enhancing electricity market competition, and improving water management systems. In a statement released last week, the World Bank said the newly approved First Energy Transition and Climate Resilience Development Policy Loan aims to help the country shift toward renewable energy and …

The Philippine Deposit Insurance Corporation (PDIC) will auction 54 assets from closed banks through an electronic public bidding on April 24.  These properties, located in Aklan, Bukidnon, Camarines Sur, Isabela, Palawan, and Quirino, include vacant agricultural and residential lots, as well as improved residential and agricultural properties, ranging from 71 to 239,343 square meters. Electronic bids will be accepted via …

State-run Land Bank of the Philippines has launched OptiSaver Plus, an upgraded savings product designed to help Filipinos grow their funds while enjoying free insurance coverage for added financial security. With a tiered interest rate of up to 4% per annum, OptiSaver Plus also provides free life or personal accident insurance based on a depositor’s Average Daily Balance (ADB).  A …

The Bangko Sentral ng Pilipinas (BSP) has collected P1.372 billion worth of coins through its coin deposit machines (CoDMs) as of March 17, translating to 339.84 million coins from 311,858 transactions. Launched in June 2023, the CoDM initiative enables users to deposit coins conveniently, with the amount credited to their GCash or Maya e-wallets or converted into shopping vouchers.  The …

BDO Unibank Inc. (BDO) is reaffirming its commitment to national progress by financing key infrastructure projects, including the modernization of the Ninoy Aquino International Airport (NAIA).  Through its Institutional Banking Group and BDO Capital & Investment Corporation, BDO helped secure P80 billion (US$1.42 billion) in funding for New NAIA Infrastructure Corporation (NNIC), the consortium awarded the concession to rehabilitate and …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. emphasized the need for strong partnerships with stakeholders to enhance the security, accessibility, and simplicity of the country’s digital financial ecosystem. Speaking recently, Remolona highlighted the importance of ensuring a safer digital space, citing the Anti-Financial Account Scamming Act (AFASA), which aims to combat fraud, scams, and fake accounts. The law’s …

The Philippines’ balance of payments (BOP) swung to a surplus of $3.1 billion in February 2025, marking its highest level in five months, according to data released by the Bangko Sentral ng Pilipinas (BSP) recently. This surplus marks a sharp turnaround from the $196 million deficit recorded in the same month last year and is the biggest since the $3.52 …

The Bureau of the Treasury (BTr) successfully raised P30.8 billion from its Treasury bill (T-bill) auction last week, surpassing the initial P22 billion offer due to strong investor demand. According to the BTr, total bids reached P118.9 billion, making the auction 5.4 times oversubscribed. This prompted the Auction Committee to double the accepted non-competitive bids for the 91-day and 182-day …

The Philippine banking sector saw significant growth in total assets, increasing by 9.3% year-on-year to P27.11 trillion as of January, according to data from the Bangko Sentral ng Pilipinas (BSP). This marks a notable rise from P24.81 trillion recorded in the same period last year. Industry experts attribute this growth to the strong profitability of Philippine banks, which have consistently …

Fitch Ratings has upgraded the viability rating (VR) of state-owned Land Bank of the Philippines (LandBank) from ‘bb’ to ‘bb+’, citing the bank’s strong financial standing and resilience. In its latest assessment, Fitch also reaffirmed LandBank’s long-term issuer default rating (IDR) at ‘BBB’/Stable and its Government Support Rating (GSR) at ‘bbb’.  The rating agency highlighted the bank’s systemic importance, full …