Banking & Finance

More than 400 dignitaries, including President Duterte, celebrated last Feb. 21 the 50th anniversary of the Asian Development Bank (ADB) headquarters in Manila. 

Philippines (HCPH), a unit of a Prague-based company offering in-store financing for purchasing appliances and gadgets, plans to expand its nationwide footprint and product offerings to increase its customer base to one million milestone by the end of 2017. 

By Riza Lozada  Dollar transfers from overseas Filipino workers exceeded the government’s 2016 growth target after it jumped five percent to $26.9 billion from $25.61 billion a year ago, Bangko Sentral ng Pilipinas (BSP) data showed. 

State bank regulator Philippine Deposit Insurance Corp. (PDIC) announced the appointment of banker Anita Linda Aquino as a member of the PDIC board. 

Local thrift banks will explore ways to increase their presence in remote areas of the country during a convention slated on March 14, at the Dusit Thani Hotel in Ayala Center, Makati. 

The Department of Finance (DOF) has approved a new revenue regulation (RR) that makes banks, rather than taxpayer, liable for delays in, or non-remittance of, taxes paid through credit, debit or prepaid cards. 

The recent gross domestic product (GDP) growth results and the robust projections for the Philippines for several years continue to bolster the Philippines’ reputation as one of the region’s economic tigers.

By Riza Lozada  Union Bank of the Philippines (UnionBank) sees the consumer market as a profit driver this year as a result of the steady growth in the economy. 

Former National Treasurer Roberto Tan was sworn into office as the new president of the Philippine Deposit Insurance Corp. (PDIC) by Finance Secretary Carlos Dominguez at the Department of Finance (DoF) office recently. 

The Asian Development Bank (ADB) reported approving $3.7 billion (P185 billion) in climate finance investments in 2016.