Banking & Finance

The Bureau of Internal Revenue (BIR) posted P17.7 billion in excise tax collections from so-called sin products in last September, up 12 percent from P16.67 billion a year ago.

A PayPal research showed digital payments is having a big impact on improving the financial situation of local consumers and businesses.

By Riza Lozada Rural banks (RBs) should expand their services to more small businesses as many local entrepreneurs still need access to reasonable loan packages that can help them grow their business, Senator Bam Aquino said during his speech at the 60th Charter Symposium of the Rural Bankers Association of the Philippines (RBAP) recently.

Certificates of tax refund will be publicly awarded to address transparency in the release of tax credit certificates, Customs Commissioner Isidro Lapeña said.

The Bangko Sentral ng Pilipinas (BSP) is open to the use of cryptocurrencies but cited the need for vigilance since these are not regulated by any central bank, Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. said.

$1.1 trillion worth of Asia-Pacific financial and nonfinancial corporate debt will mature in the second half of this year through 2022, which is equivalent to about 11 percent of total debts maturing globally, ratings firm Standard and Poor’s (S&P) said in a report.

The government is exploring a grant from the United States to put up the country’s first tax academy, which will serve as a training institution that will provide revenue officials and employees continuing professional education on improving tax collection competence and efficiency.

By Riza Lozada State-owned Development Bank of the Philippines (DBP) was named small and medium enterprises (SME) Bank of the Year in the The Asian Banker – Philippine Country Awards for 2017 during ceremonies held last October 6, at the Fairmont Hotel in Makati City. The awards ceremony was held in conjunction with the region’s most prestigious retail banking event, …

Logistics firm Lalamove, which has been marking strong growth in Southeast Asia and China, with a strong presence in Manila, has recently completed its latest $100M (P5 billion) Series C funding round.

Listed lender Security Bank Corp (SBC), the country’s fifth largest private bank in terms of assets and capital as of June 30, has launched its initial tranche of long term certificates of deposit (CDs) last October 17 in line with the Bangko Sentral ng Pilipinas’ (BSP) approval to issue CDs dated October 5.