Banking & Finance

The Bangko Sentral ng Pilipinas (BSP) will reduce the reserve requirement ratios (RRRs) of banks as part of its efforts to reduce distortions in the financial system. In a statement on Friday, the BSP said the RRR of universal and commercial banks (U/KBs) and non-bank financial institutions with quasi-banking functions (NBQBs) will be reduced by 250 basis points to 7 …

The Asia United Bank said on Thursday that it is planning to integrate the Philippine Statistics Authority’s eVerify with its branch banking service, allowing customers who registered to the national identification (ID) system to easily open a bank account. The national ID eVerify provides users with a suite of verification tools, including facial recognition and real-time data verification. It also …

For many, acquiring their own home seems far-fetched, but with the influx of many property developments, many dared and succeeded in getting one. If you’ve been working for a few years and are looking to invest in your future, now could be the perfect time to buy your first property. The pandemic has accelerated the desire for homeownership, especially among …

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), …