Banking & Finance

The Bangko Sentral ng Pilipinas (BSP) Research Academy is set to launch the “Journal of Monetary Policy and Finance” this year. “This is a peer-reviewed journal series that will feature outstanding research studies on relevant topics on central banking, monetary policymaking, and finance. It is targeted to be at par with leading international peer-reviewed journals,” according to BSP Governor Benjamin …

Full-year 2021 personal remittances from Overseas Filipinos (OFs) reached a new high of US$34.884 billion, surpassing US$33.467 in 2019, and the US$33.194 billion recorded in 2020 by 5.1 percent. For the month of December, personal remittances grew year-on-year by 2.9 percent to US$3.298 billion, the highest monthly level since the tracking of personal remittances data series began in 2005.          …

State-owned Land Bank of the Philippines (LANDBANK) wrapped up 2021 by further expanding touchpoints in key strategic areas nationwide, as part of its thrust of promoting greater financial inclusion and providing a more delightful banking experience to customers. LANDBANK’s total branch network reached 489 branches and branch-lite units across all 81 provinces nationwide as of 31 December 2021. The Bank …

Cash dividends paid out by listed companies to common shareholders last year rose 17.3% to P402.18 billion from 2020’s P342.88 billion, translating to dividend yields of 2.58% and 2.50%, respectively, Philippine Stock Exchange (PSE) data showed. For PSEi companies, cash dividends paid by 28 of the 30 main index members amounted to P157.58 billion, giving common shareholders a 1.72% dividend …

Bangko Sentral ng Pilipinas (BSP) issued additional clarification and directives to all BSP supervised financial institutions (BSFIs) in handling targeted financial sanctions (TFS) that match their risk profiles. Memorandum Order M-2022-007 issued Feb. 2, BSP Deputy Governor Chuchi G. Fonacier said banks and non-banks must carefully consider and study the TFS guidelines that were issued by the BSP in 2021 …

The Department of Finance (DOF) said it expects a sustained recovery in trade and economic activities this year, following the move by Congress to amend the Retail Trade Liberalization Act, Foreign Investment Act and the Public Service Act. The DOF said: “The recently approved amendments to the Retail Trade Liberalization Act, along with other economic liberalization initiatives such as the …

Bangko Sentral ng Pilipinas (BSP) Governor and Financial Inclusion Steering Committee (FISC) Chairman Benjamin E. Diokno (top, right) leads the ceremonial donning of the financial inclusion pin during the launch of the National Strategy for Financial Inclusion (NSFI) 2022-2028. The NSFI 2022-2028 builds on the success of the first NSFI launched in 2015 and renews the vision of financial inclusion …

On 18 February 2022, the BSP will begin publishing its Monetary Policy Report (MPR). The MPR, which will replace the quarterly publication of the Inflation Report, will be published four (4) times a year to correspond with the availability of major economic data releases such as the quarterly national income accounts. The MPR will serve as the flagship BSP publication …

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno made a strong case for the country as an attractive investment destination to Japanese investors by highlighting solid economic fundamentals and sustained recovery. The Philippine economy grew by a better than expected 5.6 percent in 2021, exceeding the government’s 5 to 5.5 percent target range. The strong growth is expected to …

The Bangko Sentral ng Pilipinas (BSP) and the Commission on Elections (COMELEC) signed an Escrow Agreement for the safekeeping of the Automated Election Systems (AES) source code for the National and Local Elections in May 2022. Under Republic Act No. 9369 or “The Election Automation Law,” the COMELEC is mandated to deposit the AES source codes with the BSP for …