Banking & Finance

Bank lending of universal and commercial banks (U/KBs) grew at a faster pace in April this year while domestic liquidity growth slowed, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data released by the BSP on Friday showed that banks’ outstanding loans, excluding those placed in the central bank’s reverse repurchase facility, grew by 9.6 percent in April …

Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. said recently the development and the deepening of the Philippine capital markets are vital to the economy. “Hand in hand with the government, we are pushing on multiple fronts to deepen our capital markets. Such deepened markets will enhance our transmission mechanisms for monetary policy and make our financial system …

Land Bank of the Philippines (LANDBANK) has been tapped by the Department of Social Welfare and Development (DSWD) for the efficient and timely delivery of financial relief to crisis-affected individuals, including those in remote and underserved communities. Under DSWD’s Assistance to Individuals in Crisis Situation (AICS) Program, LANDBANK will serve as the Department’s disbursement partner and will engage financial service …

State-owned Development Bank of the Philippines (DBP) has granted a P4-billion credit assistance to the city government of Cabuyao to finance key public infrastructure projects in the first-class component city of Laguna, a top official said. DBP President and Chief Executive Officer Michael O. de Jesus said the loan was approved under the Bank’s Assistance for Economic and Social Development …

Alternergy Holdings Corp. secured another local to finance the construction of its renewable energy projects, which are aligned with the government’s goals of increasing green energy supply in the country. The company obtained a P2-billion green corporate loan from BDO Unibank Inc., with BDCO Capital & Investment Corp. as the mandated lead arranger for the transaction. Prior to the said …

Amid the devastating impact of El Niño on local harvests, Land Bank of the Philippines (LANDBANK) remains aggressive in extending financial support to rice farmers as total loans released through the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) reached P2.5 billion as of 30 April 2024.  In partnership with Department of Agriculture (DA), LANDBANK has been …

The BSP is sharing the following information to clarify and respond to recent news  reports on six employees on the staff of certain Monetary Board members. We  hope this clarifies, within the bounds of confidentiality and fairness due to ongoing  proceedings, the steps the BSP has taken since first receiving reports on the issue,  to ensure that any erring employee …

Staying true to its mission of expanding the reach of financial education initiatives nationwide, BDO Foundation, together with the People Management Association of the Philippines (PMAP) and Empower and Transform Philippines, hosted a four-part webinar series tackling fundamental finance knowledge for human resource professionals. The webinar series aim to provide a focused understanding of financial markets, investing principles, and ethical …

Land Bank of the Philippines (LANDBANK) will soon use cards with quick response (QR) code functionality to facilitate more convenient and secure cash aid disbursement to beneficiaries of the National Government’s social amelioration programs. The LANDBANK cards with QR code will provide beneficiaries an alternative method to immediately receive and access their funds, ensuring timely assistance from government agencies especially …

The Bangko Sentral ng Pilipinas (BSP) conducted its 6th Procurement Opportunities Fair to encourage and capacitate more bidders to participate in competitive and transparent procurement of various goods and services needed by the bank. Held at the BSP Head Office in Manila from 23 to 25 April 2024, the event drew the participation of suppliers, contractors, consultants, manufacturers, and distributors from various …