Banking & Finance

President Ferdinand R. Marcos Jr. plans to use funds from the Asian Development Bank (ADB) to improve social services and infrastructure in the country. Speaking at the launch of the ADB Philippines Country Partnership Strategy (CPS) 2024-2029 in Malacañang on Thursday, President Marcos emphasized the importance of turning ADB’s multi-billion funding commitment into concrete outcomes. “The task before us is …

Land Bank of the Philippines (LANDBANK) has partnered with SariSuki, a leading Philippine agritech startup, which aims to revolutionize the agricultural supply chain through the Bank’s AGRISENSO Lending Program. This strategic alliance aims to support over 300 small farmers and Agrarian Reform Beneficiaries (ARBs) by providing accessible financing, hands-on guidance, and a reliable market for their produce, aiming to enhance …

Philippine National Bank (PSE: PNB) was named as the Most Admired Financial Services Provider in the Philippines by the International Business Magazine Awards (IBMA) 2024. “PNB is truly honored for being consistently acknowledged for our sincerity and commitment in providing only the best customer experience here and abroad,” said PNB President Florido P. Casuela. “We will continue to strive for …

Maybank Philippines, Incorporated officially started its Islamic banking operations on August 14, 2024, after receiving the grant of authority from the Bangko Sentral ng Pilipinas (BSP) on July 4 2024. This is the second Islamic banking unit (IBU) licensed by the BSP. The first was CARD Bank, Inc. (A Microfinance-Oriented Rural Bank) in June 2023. Under BSP regulations, an IBU …

Land Bank of the Philippines (LANDBANK) has approved a P5-billion loan to Prime Infrastructure Capital, Inc. (Prime Infra) to bolster its sustainability projects, marking the first partnership between the two institutions. The P5 billion loan facility will be utilized to partially finance working capital requirements of Prime Infra’s pipeline projects across its core sectors — water, sustainable energy, and waste …

By Rose de la Cruz The Bangko Sentral ng Pilipinas under Governor Benjamin Diokno signed a memorandum of agreement with the Philippine Statistics Authority for the printing of the National ID (PhilID) in 2020. Instead the BSP subcontracted to ALLCard Inc. part of the services of the PhilID printing, an integral part of the MOA executed between BSP and PSA, …

To address urgent financial needs during emergencies, Land Bank of the Philippines (LANDBANK) has expanded its available loan packages for businesses and individuals affected by calamities and natural disasters to help facilitate and fast-track rebuilding efforts.  Under the enhanced LANDBANK CARES+ (Community Assistance and REintegration Support Plus) Lending Program, affected farmers and fishers, cooperatives, micro, small and medium enterprises (MSMEs), …

Bangko Sentral ng Pilipinas Governor Eli M. Remolona, Jr. has been recognized as one of the top-performing central bank governors globally, receiving an “A-” rating in Global Finance magazine’s 2024 Central Banker Report Cards. The prestigious annual ranking evaluates central bankers from nearly 100 countries, territories, and regions.  Governor Remolona completed his first year in office on 3 July 2024.  …

Citywire Asia recognizes Metrobank as the Best Asset Manager for the Philippines and names Metrobank Investment Management Head Cristina Gabaldon as one of the 2024 Top 25 ASEAN Selectors at the Citywire Asia ASEAN Awards.  “We are honored to be recognized by one of the trusted financial publications worldwide. These awards show our strength in providing a wide spectrum of …

China Banking Corporation (Chinabank, PSE Stock symbol: CBC) saw its net income from January to June 2024 rise to a record P11.4 billion, up 6% compared to the same period last year on the back of stronger core lending and deposit-taking activities. This translated to a return on equity of 15.1% and a return on assets of 1.5%, still among …