Banking & Finance

The Land Bank of the Philippines (LANDBANK) has joined hands with the BDO Capital & Investment Corporation (BDO Capital) in arranging a P5-billion syndicated corporate notes facility with other domestic banks, to support ASA Philippines Foundation, Inc.’s (ASA) credit expansion for underserved women. The state-run Bank has a significant participation in the syndicated transaction, the proceeds of which will be …

President Ferdinand R. Marcos Jr. has appointed Monetary Board Member (MBM) Eli M. Remolona as the next Governor of the Bangko Sentral ng Pilipinas (BSP) and Chairman of the Monetary Board. This was announced recently by the Presidential Communications Office. MBM Remolona, 70, will serve a six-year term as Governor and Chairman of the Monetary Board starting 3 July 2023. …

In line with its commitment of bringing convenient and reliable banking services closer to more Filipinos, the Land Bank of the Philippines (LANDBANK) has ramped up expansion efforts in this island province with the installation of two new automated teller machines (ATMs) in the far-flung towns of Sibunag and San Lorenzo.  The new LANDBANK touchpoints are strategically located at the …

In a bid to improve coin circulation in the Philippines, the Bangko Sentral ng Pilipinas (BSP) and SM Store deployed the first of coin deposit machines at the SM Store in SM Mall of Asia, today, June 20, 2023. This is the first of 18-coin machines that will be available at the SM Stores and SM Supermarkets. The BSP-initiated project …

Nestled amid the lush greenery of a tranquil rural landscape is a 670-hectare mixed-used township development of the Pueblo De Panay, Inc. (PDPI) that has been a contributing pillar to Roxas City’s bid for inclusive development. Home to various commercial establishments, agro-industrial zones, and endearing tourist attractions—with a residential component that integrates Capiznons’ traditional lifestyle with contemporary living—the PDPI mega …

The Bangko Sentral ng Pilipinas (BSP) and its partner organizations launched new financial educational programs for agricultural workers, college students and overseas Filipino workers (OFWs) at ceremonies held on June 8, 2023 at the BSP Manila head office. These initiatives were developed by the BSP in cooperation with various partner organizations to broaden and deepen the reach of financial education …

Foreign direct investment (FDI) recorded US$548 million net inflows in March 2023, lower by 30.7 percent than the US$792 million net inflows in the same month in 2022. The said decline resulted from lower net inflows across all major FDI components amid investor concerns over subdued global growth prospects. Equity capital placements during the month originated mostly from Singapore, Japan, and the …

Philippine broadband and technology solutions provider Converge ICT Solutions Inc. (PSE:CNVRG) has appointed former Senior Associate Justice Estela M. Perlas-Bernabe as an independent non-executive director to its Board of Directors, following the elections held during its Annual Stockholders’ Meeting on May 26, 2023.  A respected member of the Supreme Court (SC) from 2011 until her retirement in 2022, the highest …

Seasoned banker Lynette V. Ortiz was sworn in today as the new President and Chief Executive Officer of the Land Bank of the Philippines (LANDBANK) following her recent appointment by President Ferdinand R. Marcos, Jr. She brings with her over 30 years of extensive experience in local and international banking.  Ortiz formally took her oath as the 11th President and …

Rizal Commercial Banking Corp. (RCBC), through its credit card arm, RCBC Bankard Services Corporation turned over close to P3 million in donation to Gawad Kalinga (GK), a Philippine-based poverty alleviation and nation-building movement.  The donation was raised based on the full-year card usage of RCBC Diamond Platinum Mastercard cardholders. Through the Card’s built-in Diamond Cares Program, for every P100 spent using …