Banking & Finance

By Riza Lozada Local insurer Philippine American Life and General Insurance (Philam Life) will join major investments to put up infrastructure as part of its aim to help the local economy to reach its full potential.

The government is cracking down on “informal money lenders” or the so-called loan sharks including those engaged in the 5-6 scheme who usually charge exorbitant interest rates or victimize borrowers through fraud, falsification and harassment.

Inflation for October is expected to remain within target despite the country being hit by two successive typhoons, BSP Deputy Governor Diwa Guinigundo said.

The European Central Bank’s (ECB) decision to maintain interest rates will buoy the region’s economy, which in turn will benefit the Philippines, a Bangko Sentral ng Pilipinas (BSP) official said.

The country’s top lenders are not pro­viding enough lend­ings to agricultural projects as required under the Agri-Agra Law.

BDO Unibank Inc. (BDO), the country’s largest lender, recently received the Institu­tional Investors Governance Awards given to companies that scored high marks in the Asean Corporate Governance Scorecard (ACGS) in the re­cent Investors Forum.

Property prices are rising mirroring the still healthy state of the industry as the Residential Real Estate Prices Index (RREPI) jumped to 122.8 points in the second quarter from 110.3 a year ago or 11.3 percent higher.

By Riza Lozada The Bangko Sentral ng Pilipinas (BSP) said rules on the trading of derivatives will be improved as part of measures to increase the capacity of the domestic financial system. BSP Deputy Governor Nestor Espenilla Jr., in a speech during the Philippine International Banking Convention at Shang-ri La last Friday, said the BSP is continuously doing its best …

Preliminary Bangko Sentral ng Pilipinas (BSP) data showed that the country’s gross international reserves (GIR) rose to $85.90 billion by the end of September.

Fifty-six companies in the stock exchange are compliant with Islamic banking practice or Shari’ah based on a quarterly screening ending September by the Philippine Stock Exchange (PSE).