Banking & Finance

The Bangko Sentral ng Pilipinas (BSP) may increase the number of digital banking licenses it plans to issue in 2025, according to Chuchi Fonacier, the BSP’s Deputy Governor for financial supervision. Fonacier explained that while the BSP is open to the possibility of issuing more licenses, any increase would require approval from the Monetary Board (MB). Currently, six digital banks …

Landbank led the roster of government agencies recognized for exemplary service, with 12 of its branches earning top marks in the 2023 Report Card Survey (RCS) 2.0 by the Anti-Red Tape Authority (ARTA). The LANDBANK branches were honored at the ARTA RCS Awards Ceremony at Conrad Manila on 30 October 2024, underscoring the Bank’s collective commitment to providing efficient, high-quality …

Former Pinoy Big Brother (PBB) housemate Bryan “Brx” Ruiz expressed his appreciation for being given the opportunity to share his financial knowledge to fellow Negrenses during the recent BDO mini-fiesta held at the Sipalay City Gymnasium. Tapped to co-host the event, the 32-year-old Ruiz—dubbed as Seamanluluto ng Bacolod during his PBB: Gen11 days—said his experience as a seafarer helped him …

The Philippine local currency bond market saw significant growth in the third quarter of 2024, driven by strong performance across all bond segments, according to the latest report from the Asian Development Bank (ADB). In its Asia Bond Monitor report released Wednesday, the ADB noted that total bonds outstanding rose to P13 trillion, reflecting a 3.8 percent quarter-on-quarter increase. This …

The Asian Development Bank (ADB) has approved a USD500-million policy-based loan to enhance the Philippines’ efforts in addressing climate change. In a statement released recently, the ADB announced that the Climate Change Action Program (CCAP) Subprogram 2 will support the country in meeting its Nationally Determined Contribution (NDC) goals. The NDC includes the Philippines’ commitment to reducing greenhouse gas emissions …

Finance Secretary Ralph Recto has officially entered into a USD500-million financing agreement with the World Bank-International Bank for Reconstruction and Development (WB-IBRD) to support the reconstruction of over 3,000 schools across the Philippines that were impacted by typhoons. In an announcement made Wednesday last week, the Department of Finance (DOF) confirmed that the deal was signed by Recto and Zafer …

Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. (right) leads the ceremonial switch-on of BSP Christmas lights at its head office in Manila on 28 November 2024. Festive lights also adorn Christmas trees and buildings at the BSP Security Plant Complex in Quezon City and various Regional Offices and Branches, while BSP’s EDPC Building façade along Roxas Boulevard …

The Bangko Sentral ng Pilipinas (BSP) has reported that both new players and incumbent banks have shown interest in obtaining licenses to operate as digital banks in the Philippines. “There are new players exploring opportunities in the Philippine market, but as per our guidelines, we will begin accepting applications from January 1, 2025,” said Melchor Plabasan, BSP Senior Director for …

The Rural Bank of Sta. Rosa (Laguna), Inc. has reported a substantial increase in net income for the first three quarters of the year, reflecting a strong growth trajectory. According to data shared by Raffy Montemayor, the bank’s chair and co-founder of financial technology firm Salmon, the bank’s net income surged to P166.7 million, up from USD1.7 million in the …

Finance Secretary Ralph Recto recently met with senior officials from JP Morgan to discuss potential collaborations and initiatives aimed at strengthening the Philippine capital market. The meeting, held at the Department of Finance (DOF) headquarters in Manila on November 18, focused on various topics, including JP Morgan’s current operations in the Philippines, opportunities for partnership, and the ongoing efforts to …