Banking & Finance

The Asian Development Bank (ADB) should “reinvent” itself by pursuing new development programs to spell wider economic inclusion across the Asia-Pacific after helping transform the region into the “center of gravity” of the global economy, Finance Secretary Carlos Dominguez III said.

Monetary officials maintain that the Philippine Current Account (CA) balance , even at a small deficit, remains in a healthy level.

Land Bank of the Philippines posted P14.05 billion in net income for 2017, 4% higher than the P13.58 billion net income in 2016.

Revenge is sweet for Lyceum.

The Monetary Board has approved the adoption of minimum prudential liquidity requirements for thrift banks (TBs), rural banks (RBs), cooperative banks (CBs) and quasi-banks (QBs) which are designed to enhance the covered BSP-supervised financial institutions’ resilience to liquidity stress events. With this new development, all banks and QBs will be subject to calibrated minimum prudential liquidity requirements. The BSP first …

Preliminary data showed that the country’s gross international reserves (GIR) level as of end-January 2018 slid marginally to US$81.2 billion from the end-December 2017 GIR of US$81.6 billion, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. announced today.1 At this level, the GIR represents more than ample liquidity buffer and is equivalent to 8.2 months’ worth of imports …

At its meeting on monetary policy today, the Monetary Board decided to maintain its policy rate, the interest rate on the Bangko Sentral ng Pilipinas (BSP’s) overnight reverse repurchase (RRP) facility, steady at 3.0 percent. The corresponding interest rates on the overnight lending and deposit facilities were also kept unchanged.

Risk-off sentiment overseas impacted on the Philippine Stock Exchange index (PSEi) and the peso Friday.

An economist of ING Bank Manila said the Bangko Sentral ng Pilipinas’ (BSP) inflation forecast for January 2018, at 3.5 to 4 percent, may concern the market since the upper end is already higher than the central bank’s 3.2 percent average projection for the year.

By Leslie Gatpolintan Net income of Metropolitan Bank & Trust Company (Metrobank) rose 10-percent to PHP18.2 billion in 2017, Metrobank President Fabian Dee reported Thursday to the Philippine Stock Exchange (PSE) Thursday.