Banking & Finance

The Bangko Sentral ng Pilipinas (BSP) and its partner retailers (SM Retail, Inc.; Filinvest Land, Inc.; and Robinsons Supermarket) recently signed a Memorandum of Agreement (MOA) to deploy 25 Coin Deposit Machines (CoDM) in select retail establishments. The BSP-initiated project aims to boost its Coin Recirculation Program, and to promote financial inclusion and digitalization. Consumers will be able to conveniently …

Teachers and residents will no longer need to wait in long queues and travel to other towns for their cash requirements, with the installation of a new Land Bank of the Philippines (LANDBANK) ATM at the Amai Pakpak Central Elementary School (APCES) Compound in Barangay Buadi Sacayo. In partnership with the Department of Education (DepEd) – City Schools Division of …

The Bangko Sentral ng Pilipinas-North Luzon Regional Office (BSP-NLRO) conducted the “Palit Pera Drive” and “Info Caravan” on 14 August 2022 at Malcolm Square in Baguio City. The “Palit Pera Drive” facilitated the withdrawal of unfit coins and banknotes from general circulation. The “Info Caravan,” meanwhile, offered a free seminar on “Know Your Money” to educate the public about the …

Personal remittances from Overseas Filipinos (OFs) grew by 4.4 percent year-on-year to reach US$3.1 billion in June 2022 from US$2.9 billion recorded in the same month last year. This resulted in the growth of the cumulative personal remittances by 2.8 percent to US$17.1 billion in the first half of 2022 from US$16.6 billion recorded in the comparable period in 2021. …

Headline inflation increased to 6.4 percent year-on-year in July from 6.1 percent in the previous month. This was within the BSP’s forecast range of 5.6-6.4 percent for July. The resulting year-to-date average inflation of 4.7 percent is above the Government’s average inflation target range of 2.0-4.0 percent for 2022. Meanwhile, on a month-on-month seasonally adjusted basis, inflation slowed down to 0.6 percent …

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla (left) administers the oath of office to Department of Finance Secretary Benjamin E. Diokno as President Ferdinand R. Marcos, Jr.’s designated Cabinet member representative to the Monetary Board (MB). Secretary Diokno, who was previously the MB Chairman and Governor of the BSP, is the sixth member of the central bank’s policy-making body chaired by BSP Governor Medalla.

Students, public utility vehicle drivers, vendors, household helpers, farmers, fishers, and other unbanked and underserved Filipinos can now open a LANDBANK PISO account with just P1.00 as minimum initial deposit. The Land Bank of the Philippines (LANDBANK) offers a new product to help bring more unbanked and underserved Filipinos—including students, public utility vehicle drivers, vendors, household helpers, farmers, and fishers—into …

Nationwide residential property prices up by 5.6% YoY, but edge lower by 1% QoQ in Q1 2022 The residential real estate prices of various types of new housing units in the Philippines maintained its growth momentum in Q1 2022.[1] The Residential Real Estate Price Index (RREPI) rose by 5.6 percent from a year ago, but declined by 1 percent from …

The past two years have been tough for everyone. And when times get tough, financial institutions have it in their best interest to be at their strongest, in order to provide the most help for their clients.  Based on a leading consumer survey covering the Asia Pacific (APAC) region, Metropolitan Bank and Trust Co. (Metrobank) was indeed a pillar of …

Assistant Governor (AG) Amenah F. Pangandaman, who also serves as Chief of Staff to the Governor, Executive Offices Coordinator, and Concurrent Head of the Strategic Communication and Advocacy, has accepted the invitation of President-elect Ferdinand Marcos, Jr. to serve as the incoming Secretary of the Department of Budget and Management (DBM). “It is my honor to serve the Filipino people during this critical …