Business

The World Bank (WB) is set to extend $2.75 billion in loans to the Philippines for fiscal year 2026, reflecting a 3.7 percent decrease from the $2.857 billion allocated for 2025.  Despite the reduction, the lending program highlights the WB’s sustained commitment to supporting the country’s development efforts. WB Director for the Philippines, Malaysia, and Brunei Zafer Mustafaoğlu confirmed that …

Bank lending in the Philippines surged by nearly 13 percent in January, marking its highest growth rate since December 2022, while domestic liquidity also continued to expand, according to data from the Bangko Sentral ng Pilipinas (BSP). Preliminary BSP data released Thursday showed that loans extended by universal and commercial banks (U/KBs) grew by 12.8 percent in January, surpassing the …

State-owned Development Bank of the Philippines’ (DBP) net income surged to P7.1-billion in 2024—its highest in the past 10 years—representing a 20% increase from 2023 as the Bank ramped up its lending activities to key sectors in support of the Marcos, Jr. Administration’s socio-economic agenda, a top official said. DBP President and CEO Michael O. de Jesus said the Bank’s …

Rizal Commercial Banking Corporation delivered net income of P9.5B for the full year 2024, with double-digit growth of 26% in net interest income and a 40% expansion in consumer loans.  The Bank’s total resources reached P1.4T by end 2024. Net income growth, without the non-recurring gains in 2023, was at 13.6% year-on-year, as core business maintains momentum. The bank’s net …

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The government is intensifying its efforts to sustain sound fiscal management, Budget Secretary Amenah Pangandaman said on Friday, following the reported 5.7-percent reduction in the country’s budget deficit in 2024. Pangandaman made the statement after the Bureau of the Treasury (BTr) announced that the budget deficit declined to P1.506 trillion, a 0.38-percent reduction, as revenue growth outpaced government spending. According …

The Philippine Amusement and Gaming Corporation (PAGCOR) today welcomed the country’s exit from the Financial Action Task Force grey list and vowed to continuously strengthen regulations and strict monitoring of the local gaming industry.  PAGCOR Chairman and CEO Alejandro H. Tengco said the exit from the list is a very significant development that should help bring in more foreign investments …

The Philippine economy is poised to expand beyond 6 percent this year, with inflation expected to remain within target, according to forecasts from an investment management firm and a UK-based bank. During a briefing in Makati City on Friday, Sun Life Investment Management and Trust Corp. Chief Investment Officer Ritchie Teo projected a 6.2 percent growth rate for the Philippine …

The Philippines’ total external trade in goods grew by 9.1 percent in January, reaching USD17.82 billion from USD16.32 billion in the same period last year, according to the Philippine Statistics Authority (PSA). Latest data released on Friday showed that imports accounted for 64.3 percent of the total trade value, while exports made up 35.7 percent. Export sales climbed by 6.3 …

The national government’s total revenue collection reached P4.419 trillion in 2024, surpassing the P4.27 trillion target, according to the Bureau of the Treasury (BTr). In a report released Thursday, the BTr noted that revenue collection last year amounted to 16.72 percent of the country’s gross domestic product (GDP), marking the highest revenue effort since 1997. The increase was largely attributed …