Banking & Finance

The Bangko Sentral ng Pilipinas (BSP), in its continued commitment to transparency and good governance, releases information on the issuance of Monetary Board opinions (MBOs) on the proposed domestic borrowings of local government units (LGUs). This information includes the amounts and intended purpose of the proposed loans of LGUs. In the first semester (S1) of 2023, the BSP received a …

The Land Bank the Philippines (LANDBANK) was ranked by Forbes as the 6th best employer in the Philippines for 2023—the only government institution to achieve this distinction. The state-run Bank also placed 304th overall globally in the latest Forbes’ World’s Best Employer list, based on a survey of over 170,000 employees from multinational companies and institutions in over 50 countries.  …

Towards advancing efficient, transparent, and swift government procurement, the Presidential Communications Office (PCO) has partnered with the Land Bank of the Philippines (LANDBANK) for the use of the Government Purchase Card (GPC) to pay for official goods and services.  The GPC is similar to a credit card in function, designed to shorten and simplify the requisition process for government agencies …

The Bangko Sentral ng Pilipinas (BSP) and the Department of Trade and Industry (DTI) formally sealed their partnership for the conduct of the country’s first Cashless Expo. BSP Deputy Governor (DG) Mamerto E. Tangonan (in photo, left) signed the Memorandum of Agreement (MOA) on the Cashless Expo with DTI Assistant Secretary Mary Jean T. Pacheco (right) during a ceremony held …

The Bangko Sentral ng Pilipinas (BSP) and the Cooperative Development Authority (CDA) signed on 18 October 2023 a Memorandum of Agreement (MOA) on the collaborative oversight and supervision of cooperatives that are electronic-money issuers and operators of payment systems, including those that deploy ATMs. BSP Governor Eli M. Remolona, Jr. and CDA Chairman Joseph B. Encabo inked the MOA at …

In a groundbreaking move set to redefine the future of fintech in the Philippines, Fintech Alliance PH, the nation’s first and largest digital industry organization of startups and unicorns, is proud to announce the staging of the Philippines’ first and largest country pavilion called the “Bagong Pilipinas: The Philippine Country Pavilion” at the Singapore FinTech Festival during the Industry Collaboration …

The Bangko Sentral ng Pilipinas (BSP) delegation led by Deputy Governor Francisco G. Dakila, Jr. as Temporary Governor for the Philippines in the International Monetary Fund (IMF) and Monetary Board Member (MBM) V. Bruce J. Tolentino as Temporary Alternate Governor, attended the 2023 IMF and World Bank Group (WBG) Annual Meetings in Marrakech, Morocco from 09-15 October 2023.[1]  This year’s …

The Land Bank of the Philippines (LANDBANK) remains strong, adequately capitalized, and compliant with regulatory requirements of the Bangko Sentral and Pilipinas (BSP). As of June 2023, the Bank’s total assets reached P3 trillion or 7.9% higher than P2.8 trillion in the same period a year ago, while net income stood at P20.9 billion from loans and investments earnings, exceeding …

The government is confident that it will raise more than USD1 billion from its second offering of Retail Onshore Dollar Bonds (RDB 2), a top official of the Bureau of the Treasury (BTr) said. “It’s been three days, but we’re seeing the demand, we’re close to the USD1 billion initially that we targeted,” BTr Officer-in-Charge Sharon Almanza said during the …

Preliminary data indicated that outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP, expanded by 7.7 percent year-on-year in July from 7.8 percent in June. On a month-on-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs, rose by 0.6 percent, similar with the previous month. Outstanding loans to residents, …