Banking & Finance

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, …

The Bangko Sentral ng Pilipinas (BSP) reported a $298-million balance of payments (BOP) deficit in May, driven by the national government’s foreign currency withdrawals to service external debt. Despite this, the country’s gross international reserves (GIR) remained healthy, the central bank said Thursday. The BOP tracks the Philippines’ economic transactions with the rest of the world over a specific period …

Despite heightened geopolitical tensions in the Middle East, the Philippine economy remains resilient, according to BPI Securities Corporation. In a market report released Thursday, BPI Securities said stable inflation and improving domestic supply conditions are key factors helping to maintain investor confidence. “Tensions between Israel and Iran undoubtedly pose risks to the global economy,” said BPI Securities president and CEO …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. welcomed the European Commission’s (EC) recent decision to delist the Philippines from its high-risk countries list for financial crime. “That’s certainly good news. But the EU (European Union) Parliament will still need to confirm the EC decision,” Remolona said last week. The EC announced on June 10 that it had removed …

Finance Secretary Ralph Recto last week emphasized the importance of the 2024 Philippine Public Expenditure and Financial Accountability (PEFA) Assessment Report in shaping responsible and effective government spending. Speaking during the report’s release, Recto said its findings offer a valuable roadmap for policymakers to ensure the prudent allocation and utilization of public funds, ultimately sustaining the delivery of quality services …

The Development Bank of the Philippines (DBP) posted a net income of P1.61 billion in the first quarter of 2025, marking an impressive 82% jump from the P571 million it recorded during the same period last year. The surge came as the state-owned bank ramped up its lending efforts to key sectors and industries, according to a top executive. DBP …

Finance Secretary and Land Bank of the Philippines (LANDBANK) Chair Ralph G. Recto has praised the state bank for declaring P33.5 billion in dividends–its single highest dividend yield in its history, with millions of Filipinos expected to benefit. The dividend remittance is in line with President Ferdinand R. Marcos, Jr.’s directive to uphold fiscal discipline, ensuring that the government maximizes …

The Philippine Deposit Insurance Corporation (PDIC) reported a significant increase in asset sales in 2024, generating P411.4 million from the sale of 281 properties—up by 24.7% from P330 million in 2023. In a statement released last week, the PDIC said the number of properties sold this year matched 2023 figures, but the total sale value in 2024 exceeded the aggregate …

The Bangko Sentral ng Pilipinas’ (BSP) First Philippine Polymer Banknote Series (FPPBS) has won the “Best New Banknote or Banknote Series” award from the International Association of Currency Affairs (IACA). In a statement released last week, the BSP said the award was conferred during a ceremony held in Bangkok, Thailand on May 28. IACA cited the FPPBS for its cutting-edge …

The Department of Finance (DOF) assured that the government is effectively managing the national debt it inherited from the previous administration by sustaining strong economic growth and implementing prudent fiscal policies. In a statement released Thursday, the DOF said the P16.75 trillion national debt as of end-April 2025 remains relatively low compared to other Asian economies. Japan tops the list …