Banking & Finance

Just like having the right ingredients to create gastronomic experiences, to having an excellent team of chefs in the kitchen, it also takes the right people and partnerships to build a successful restaurant business. This adage rings true for Antonio “Chef Tony Boy” Escalante and the remarkable journey of the Antonio’s Group of Restaurants.  Chef Tony Boy started his career …

The Bangko Sentral ng Pilipinas (BSP) underscored digitalization as key to enhancing rural bank operations during the Rural Bank Strengthening Program (RBSP) Technology and Innovation Forum, held at the BSP Head Office in Manila on 31 May 2024. In a recorded message, BSP Governor Eli M. Remolona, Jr. explained that the forum aimed “to understand the opportunities and challenges as …

By Rose de la Cruz Given the relative newness of digital banking, esp. fund transfers in the country, hitches like delayed reporting or confirmation or constant downtime in connectivity among banks and financial institutions (FIs) are to be expected. So, because of mounting complaints among bank clients, the Bangko Sentral ng Pilipinas was forced to intervene and Issue a circular …

BDO Unibank, Inc. (BDO) continues to help drive economic progress through strategic investments in the development of critical infrastructure, particularly in mass transportation and energy sectors.  Recognizing the pivotal role of robust infrastructure in enticing foreign investors, BDO cultivates key partnerships aimed at bolstering domestic mobility through expressways, roads, bridges, and enhancing international and domestic connectivity through airport rehabilitation and …

Land Bank of the Philippines (LANDBANK) has extended a P10-billion rediscounting line to support the Philippine Army Finance Center Producers Integrated Cooperative (PAFCPIC) and its members serving in the Armed Forces of the Philippines (AFP).  The state-run Bank expanded the Cooperative’s previous P8 billion credit line to P10 billion to sufficiently augment working capital and enable PAFCPIC to better serve …

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 …