Banking & Finance

Rizal Commercial Banking Corporation delivered net income of P9.5B for the full year 2024, with double-digit growth of 26% in net interest income and a 40% expansion in consumer loans.  The Bank’s total resources reached P1.4T by end 2024. Net income growth, without the non-recurring gains in 2023, was at 13.6% year-on-year, as core business maintains momentum. The bank’s net …

The Bangko Sentral ng Pilipinas (BSP) announced a further reduction in banks’ reserve requirement ratios (RRR) to enhance financial intermediation and liquidity in the banking system. Under the new policy, the RRR for universal and commercial banks, as well as non-bank financial institutions with quasi-banking functions (NBQBs), will be cut by 200 basis points to five percent. For digital banks, …

The Bangko Sentral ng Pilipinas (BSP) has established the Financial Cyber Resilience Governance Council (FCRGC) to enhance collaboration and strengthen cybersecurity across the financial sector. Launched at the BSP headquarters in Manila on February 11, the Council aims to fortify the country’s financial system by promoting robust cybersecurity governance, risk management, and cooperation among key industry stakeholders. “This Council represents …

BDO Unibank, Inc. and VISA launched the BDO Visa Signature in the Philippines through an exclusive cocktail event held at Grand Hyatt Manila. Guests were delighted with the new Travel Rebate Credit Card that boasts of 3% travel rebate on overseas and airline spends, and 0.3% on everything else, up to P2,500 rebate per month. Exploring the world without worry …

The Bangko Sentral ng Pilipinas (BSP) reminds all banks to accept unfit or mutilated Philippine banknotes and coins from the public. Unfit currency should be exchanged—free of charge—for fit or clean banknotes and coins. Under BSP Circular No. 829, series of 2014, and the Manual of Regulations for Banks (MORB), banks are required to facilitate the processing and submission of …

The Department of Finance (DOF) is pushing for amendments to the Development Bank of the Philippines (DBP) charter to enhance its financial stability and reinforce its developmental mandate, Finance Secretary Ralph Recto said. “The DBP has a very clear mandate: to drive economic growth by supporting the medium and long-term needs of agricultural and industrial enterprises. Hence, the reforms in …

The Bangko Sentral ng Pilipinas (BSP) decided to keep policy rates unchanged on Thursday, maintaining its cautious stance amid global economic uncertainties. This follows three consecutive rate cuts last year. Speaking at a briefing in Manila, BSP Governor Eli Remolona Jr. announced that the Monetary Board opted to retain the central bank’s target reverse repurchase rate at 5.75 percent. The …

The share of non-performing loans (NPLs) in Philippine banks’ total loan portfolio fell to 3.27 percent in December 2024, marking its lowest level in a year, according to the latest data from the Bangko Sentral ng Pilipinas (BSP). This was the lowest NPL ratio recorded since December 2023, when it stood at 3.24 percent. It also reflected an improvement from …

The Bangko Sentral ng Pilipinas (BSP), in partnership with the Bank for International Settlements (BIS), co-hosted a workshop on macroeconomic modelling on 16 to 17 January 2025, in Panglao, Bohol. The event gathered central bankers from 14 countries and experts to discuss emerging approaches and challenges in macroeconomic modelling. The workshop served as a platform for knowledge-sharing and collaboration, reinforcing …

The Bank of the Philippine Islands (BPI), through its social development arm, the BPI Foundation (BPIF), has teamed up with Mapúa Malayan Colleges Mindanao (MMCM) to launch a financial literacy initiative aimed at equipping students and local communities with essential financial skills. The project is part of BPIF’s flagship financial education program, “FinEd Unboxed,” and includes a financial management application …