Banking & Finance

The Ayala-led Bank of the Philippine Islands (BPI) reported a first-half net income of P12.67 billion, up 35.6 percent from a year ago.

By Riza Lozada The Bangko Sentral ng Pilipinas (BSP) does not expect to change its current monetary policy settings anytime soon as it said inflation forecasts remain consistent with its target range including over the horizon.

The Philippine National Bank (PNB) has sought the Bangko Sentral ng Pilipinas’s (BSP) approval for the sale of P20 billion worth of long-term negotiable certificates of time deposit (LTNCD), the proceeds from which it intends to use for debt rollover.

State-owned Land Bank of the Philippines (Landbank) has a new chief—former Officer-in-Charge Andres Sarmiento, who served in a concurrent position as executive vice president, after the bank’s President and CEO Gilda E. Pico’s term ended on July 14.

By Riza Lozada The central bank’s policy-making Monetary Board (MB) has approved the domestic operations of Taiwan’s First Commercial Bank, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor Espenilla Jr. said.

Remittances from overseas Filipinos reached $2.4 billion in May, up by 1.8 percent year-on-year, Bangko Sentral ng Pilipinas (BSP) figures released last July 15 showed.

By Riza Lozada The Asian Development Bank (ADB) said it is revising its lending procedures after an update on its anticorruption policy to address tax secrecy, tax evasion, and aggressive forms of tax planning, collectively referred to as “tax integrity issues,” in the wake of recent global developments.

United States monetary officials’ concerns on the impact of global economic developments on the US economy and the Federal Reserve (Fed) rates is seen positive for capital flows to emerging economies like the Philippines.

Foreign portfolio investments, otherwise known as “hot money,” due to its transient nature, posted a net inflow of $344.23 million as of June 26, Bangko Sentral ng Pilipinas (BSP) data showed. 

By Riza Lozada Growth in local trade resulted in foreign- currency (forex) borrowings among local banks to grow 11.4 percent in the first quarter, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend.