Banking & Finance

With financial transactions becoming more and more interconnected and complex risks have evolved and magnified and these developments from a financial regulator’s perspective, mandate a transition from stand-alone to system-wide oversight.

By Riza Lozada Top lender Metropolitan Bank and Trust Company (Metrobank) reported an unaudited consolidated net income of P13.2 billion in the first nine-months of 2017, up five percent from last year. 

Universal bank BDO Unibank, the country’s largest bank in terms of assets, was the only Philippine financial institution to be named in the top 50 of Forbes’ Best Employers in the world for 2017.

The Bangko Sentral ng Pilipinas (BSP) has provided banks with elbowroom in financing priority projects with its directive excluding loans guaranteed by Multilateral Financial Institutions (MFIs) from the loan cap to subsidiaries and affiliates.

State-owned Development Bank of the Philippines (DBP) recently granted a P78-million term loan to UGEP Solar 1 Inc. (UGEP Solar) to finance the construction and installation of two photovoltaic rooftop solar power projects with a combined output of 2.1 megawatt peak (MWp).

United Coconut Planters Bank (UCPB ) lent a hand to Operation Smile Philippines Foundation Inc. in providing free surgeries for 150 children with cleft lip and cleft palate in a mission to held at the Metro Davao Medical and Research Center last November 20 to 24.

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.