Banking & Finance

State-run Land Bank of the Philippines reported a significant jump in digital banking usage in 2024, with transactions growing by 67 percent year-on-year.  From 97.08 million digital transactions recorded in 2023, the figure surged to 162.28 million last year. The total value of these transactions also saw a sharp increase, rising to P3.38 trillion, 38 percent higher than the P2.45 …

By Tracy Cabrera In an effort to boost the Philippines’ competitiveness as an investment hub, the Philippine Economic Zone Authority (PEZA) has forged a memorandum of understanding (MoU) with Banco de Oro Unibank Inc. (BDO) to help accelerate foreign direct investments and drive national economic progress. The agreement was formalized by PEZA Director General Tereso Panga and BDO Executive Vice …

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) resumed its easing cycle on Thursday, cutting interest rates by another 25 basis points amid decelerating inflation. The latest cut brings the BSP’s target reverse repurchase (RRP) rate to 5.50 percent, a reduction of 25 basis points. The interest rates on the overnight deposit and lending facilities were also adjusted …

The Asian Development Bank (ADB) has retained its 2025 economic growth forecast for the Philippines at 6 percent for gross domestic product (GDP) while lowering its inflation projection. In its Asian Development Outlook (ADO) April 2025, the ADB kept its GDP forecast unchanged from the December 2024 report, which was higher than the 5.6 percent growth recorded in 2024. However, …

BDO Unibank Inc. (BDO) and the Philippine Economic Zone Authority (PEZA) have formalized a strategic partnership through a Memorandum of Understanding (MoU), reaffirming their shared commitment to drive foreign direct investments and promote economic growth in the Philippines. This collaboration aims to widen the investment horizon for global enterprises eyeing expansion or entry into the local market. PEZA, as the …

Bank lending sustained double-digit growth in February while domestic liquidity also expanded, according to preliminary data released by the Bangko Sentral ng Pilipinas (BSP) last week. Outstanding loans issued by universal and commercial banks (U/KBs) climbed by 12.2% year-on-year in February, slightly easing from the 12.8% growth recorded in January. The total loan portfolio reached P13.02 trillion, a marginal increase …

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 …