Banking & Finance

By Riza Lozada The government plans to issue its first renminbi-denominated debt instruments or so-called Panda bonds this year while discounting any plan to issue other debt instruments overseas, National Treasurer Rosalia de Leon said.

The policy-making Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) has banned Cabanatuan City Rural Bank Inc. from doing business in the country.

International credit card issuer Visa launched recently its financial literacy program Lukot-lukot, Bilog-bilog (Crumpled, Rounded), a theatrical play targeted to teach students the importance of informed financial decisions.

The 50th Credit Surety Fund (CSF) Program was launched last Oct. 2 in Cauayan City, Isabela to mark a new milestone for the program.

By Riza Lozada Collections of the state’s main revenue agencies have started to pick up with “promising growth figures” of 8.8 percent in the first half from a year ago, Finance Secretary Carlos Dominguez III said.

The government’s budget posted a P28.8-billion surplus last August as revenue collections outstrip expenditures for the month.

Philippine Savings Bank (PSBank), the thrift bank arm of the Metrobank Group, was the only local bank recognized at the recently held Customer Experience Asia Excellence Awards for its exceptional customer experience strategy.

Regulator Insurance Commission (IC) has asked four local health maintenance organizations (HMOs) to stop offering products that have unauthorized investment options.

The United Coconut Planters Bank (UCPB) recently hailed a recent Supreme Court (SC) decision to lift the Temporary Restraining Order (TRO) on two Executive Orders (EOs) issued by former President Benigno Aquino in 2015 targeted for the utilization of the Coco Levy Fund.

By Riza Lozada The Union Bank of the Philippines (UBP) board recently approved the appointment of President Edwin Bautista as Chief Executive Officer (CEO), effective January 1, 2018 to take the place of Justo Ortiz who has been the bank’s CEO since 1993.