Banking & Finance

The Bank of the Philippine Islands (BPI) was recently recognized as the “OFW Bank of the Year” at the Gintong Ani Awards in Dubai, reaffirming its position as the most trusted partner of Filipinos in the UAE. The award highlights BPI’s strong commitment to overseas Filipinos and their families, offering reliable and accessible banking solutions that support their financial needs. …

Officials from the Bureau of the Treasury (BTr) and the International Monetary Fund (IMF) met Wednesday to reaffirm their partnership and boost coordination on key reform priorities, the BTr said Thursday. “Discussions centered on public financial management reforms and opportunities to deepen technical cooperation in areas such as treasury management,” the agency said. National Treasurer Sharon Almanza and Deputy Treasurer …

The Department of Finance (DOF) has secured funding for the rehabilitation of the Metro Rail Transit Line 3 (MRT-3) through a ₱8.2 billion loan from the Japan International Cooperation Agency (JICA), the agency said. The third tranche of the financing agreement will be used to restore the train system to its original condition, improve performance, and prepare for future expansion …

The Bangko Sentral ng Pilipinas (BSP) has raised the cash withdrawal threshold triggering enhanced due diligence (EDD) to ₱1 million from ₱500,000. Under Circular 1230, issued February 27, depositors may withdraw up to ₱1 million without EDD. Transactions exceeding that amount require proof of legitimacy, the central bank said in a statement last week. “The increase follows consultations with banks …

The World Bank has approved three new grants totaling USD4.13 million this year to support job creation and poverty reduction in the Philippines, the Department of Finance (DOF) said recently. Grants, provided at no cost to the government, fully fund critical preparatory work while preserving fiscal space for priority projects. Finance Secretary Frederick Go facilitated swift government clearances for the …

THE  Bangko Sentral ng Pilipinas (BSP) released the results of the inaugural monthly Business Expectations Survey (BES), marking the start of a more frequent assessment of business sentiment in the Philippines. The shift from a quarterly to a monthly survey will allow the BSP to monitor business confidence more closely and respond more effectively to rapidly changing domestic and external …

The Philippines is set to ink 25 official development assistance (ODA) agreements with foreign governments, Finance Secretary Frederick Go said Thursday. Speaking at the Social Security System office, Go said the deals include 10 loans from Japan, 10 pipeline loans from Korea, and five loans from France, totaling USD10.3 billion. Separate Department of Finance data show that 10 pipeline ODAs …

The Bureau of Internal Revenue (BIR), Bureau of the Treasury (BTr), and UnionBank have signed a memorandum of agreement to integrate UnionBank’s UPay Facility into the national tax collection system, aiming to expand digital payment options for taxpayers. The partnership, signed Tuesday at UnionBank Plaza in Pasig City, seeks to provide convenient web- and mobile-based channels for paying taxes and …

Land Bank of the Philippines and the Technical Education and Skills Development Authority (TESDA) have signed an agreement to enable digital disbursement of scholarship grants and training support funds for over 335,000 TESDA scholars. The memorandum of agreement was signed on Feb. 16, 2026 at the TESDA Central Office in Taguig City by LandBank President and CEO Lynette Ortiz and …

Philippine National Bank (PNB) reported consolidated net income of ₱25.3 billion for full-year 2025, a 20% increase from 2024, boosting return on equity to 11.1%, up 70 basis points from the previous year.  The strong performance was fueled by solid core business results, efficient balance sheet management, cost discipline, and operational efficiency. PNB’s loan portfolio expanded 15% year-on-year, led by …