Banking & Finance

East West Banking Corp. (EastWest) reported a net profit of P2.33 billion for the first nine months which was 78 percent higher from a year ago with net interest income delivering a 24 percent growth in the period to P11.21 billion.

By Riza Lozada The Bangko Sentral ng Pilipinas (BSP) is expected to raise policy rates only in the second quar­ter of next year as the inflation rates are expected to remain within gov­ernment target for the rest of the year, an economist of investment bank ING Bank said.

The state-owned Develop­ment Bank of the Philippines (DBP) and the Department of Trade and Industry (DTI) Regions 6 and 11 have forged an agreement for the im­plementation of the Adopt a Negosyo Center Program in Iloilo and Davao which is aimed at addressing the me­dium and long term needs of micro, small and medium en­terprises (MSMEs) to enable them to …

Tax collections from insurance com­panies rose 12 percent in 2015 from the previous year, Insurance Com­mission (IC) data showed.

Major lender Bank of the Phil­ippine Islands (BPI) and West­pac Banking Corp. (Westpac), Australia’s first bank, recently entered into a strategic part­nership to facilitate low cost and fast transfer of funds from Filipinos living in Australia to their families in the Philippines.

Foreign direct investments (FDI)  net inflows reached FDI net in­flows in August 2016 reached $711 million in August, 32 per­cent higher from a year ago.

The Bangko Sentral ng Pilipinas (BSP) has approved listed China Banking Corp.’s (China Bank) plan to issue up to P20 billion in long-term negotiable certificates of time deposits (LTNCD).

By Riza Lozada The Bangko Sentral ng Pilipinas (BSP) recently allowed mi­crofinance-oriented small bank to convert into a regular thrift bank.

Salary-based general-purpose consumption loans (SGPCL) con­tinue to expand bank lending, according to the latest data from the Bangko Sentral Ng Pilipinas (BSP).

Rizal Commercial Banking Corp. (RCBC) reported an unaudited consolidated net income of P3.5 billion for the first nine months.