Banking & Finance

The February 2023 inflation outturn of 8.6 percent is within the BSP’s forecast range of 8.5 to 9.3 percent. Inflation is projected to remain above the target until early Q4 2023 before decelerating close to the low end of the target range by January 2024 due mainly to negative base effects and the likely decline in global oil and non-oil …

The Bangko Sentral ng Pilipinas (BSP) forecasts February 2023 inflation rate at range of 8.5 to 9.3 percent, citing the upside risks from higher prices of cooking gas. In a statement on Tuesday, the central bank said elevated prices of key food items, such as pork, fish, egg and sugar, are also expected the additional drivers of the rate of …

State-run Land Bank of the Philippines (LANDBANK) continues to pour significant financial support to the agriculture sector, with outstanding loans reaching P261.7 billion as of 31 December 2022 for a 5.5% year-on-year growth from P247.9 billion in 2021. LANDBANK’s outstanding loans to the agriculture sector likewise sustained its upward trajectory with an average growth rate of 10.4% from 2012 to …

Over 10,000 rice farmers from Panay Island in Western Visayas are expected to benefit from the top-of-the-line rice mill plant of Restia Rice Milling Corporation starting June 2023, while also helping to improve rice production and provide post-harvest facilities in the Province of Iloilo.  To be located in Brgy. Calaboa in the municipality of Leganes, the 2,472-square-meter rice mill plant …

The Land Bank of the Philippines (LANDBANK) has tapped the Lake Sebu Countryside Development Multipurpose Cooperative (MPC) to serve as its Agent Banking Partner in this underserved municipality, as part of the Bank’s mandate to advance greater financial inclusion in the country. As a LANDBANK Agent Banking Partner, the Lake Sebu Countryside Development MPC will now offer basic banking services, …

To further strengthen bilateral relations between the Philippines and Israel, the Land Bank of the Philippines (LANDBANK) and the Israel Embassy explored possible areas of collaboration to advance economic development in the country. Israeli Ambassador to the Philippines Ilan Fluss paid a courtesy visit to LANDBANK President and CEO Cecilia C. Borromeo at the LANDBANK Plaza on 17 January 2023. …

The Bank of the Philippine Islands (BPI) partnered with Euronet Worldwide Inc., a leading global financial technology solutions and payments provider, for its ATM management to acknowledge the need to enhance its ATM infrastructure to better serve customers who still rely on cash. The expansion of its ATM network into Southeast Asia includes the installation of the company’s independent ATMs …

The Land Bank of the Philippines (LANDBANK) wrapped-up 2022 with the opening of four (4) new Agri-Hubs located in the provinces of Oriental Mindoro, Bukidnon, Misamis Occidental and Misamis Oriental, expanding its physical touchpoints to better serve farmers and fishers in the country.  The state-run bank established the four Agri-Hubs in the last week of December, which will provide combined …

To ramp-up support for public utility vehicle (PUV) drivers amid rising fuel prices, the Land Bank of the Philippines (LANDBANK) and the Land Transportation Franchising and Regulatory Board (LTFRB) started distributing fuel subsidy worth P1,000 each to qualified tricycle drivers in the National Capital Region (NCR) and Regions I and III, on 10 January 2023. In partnership with the Department …

As more Filipinos continue to make the shift to online banking and digital payments amid the post- pandemic era, cybercriminals are on the rise to take advantage of human and system vulnerabilities. According to Bangko Sentral ng Pilipinas’ (BSP) 2021 cyber threats surveillance, the top three types of cyber incidents reported by its supervised financial institutions (BSFIs) were: phishing, “card …