Business

The total assets of the Philippine banking system expanded by more than 11 percent in May, surpassing the ₱30-trillion mark for the first time, according to data released by the Bangko Sentral ng Pilipinas (BSP). BSP figures showed total bank assets reached ₱30.4 trillion in May, up from ₱27.3 trillion in the same month last year. The latest figure also …

Philippine National Bank (PNB) has partnered with the Top Line Group of Companies to establish a comprehensive retirement program designed to enhance the long-term financial security of the company’s employees. The initiative underscores PNB’s commitment to providing integrated financial solutions that promote both organizational growth and employee well-being. It also reinforces Top Line Group’s efforts to strengthen its employee benefits …

The Philippines’ unemployment rate shot up again in May, 2026, negating whatever measures the government under President Ferdinand Marcos Jr. has been doing to remedy the labor problem.  The government just can’t generate enough jobs for every worker willing to work. Latest data from the Philippine Statistics Authority (PSA) showed that the number of unemployed Filipinos rose to 2.5 million …

The Asian Development Bank (ADB) downgraded its Philippine economic growth forecast to 3.8 percent this year. In its Asian Development Outlook (ADO) report for July 2026 published last Wednesday night, July 8, the Manila-based multilateral lender sharply cut its 2026 gross domestic product (GDP) growth projection for its host country from 4.4 percent previously. The latest forecast is within the …

The Philippine National Oil Co. (PNOC) and the Maharlika Investment Corp. (MIC) signed a memorandum of understanding (MOU) to explore the development of a storage tank farm project in Bataan. In a statement on Thursday, the MIC said this is part of government efforts to have a strategic petroleum storage initiative by 2028. The agreement was signed by Franz Josef …

The Energy Regulatory Commission (ERC) said last week that it is completing the inspection of the assets and facilities of the Manila Electric Company (Meralco) before deciding on the electric utility’s petition to raise its average distribution charge by September this year. According to ERC Chairperson and CEO Francis Saturnino Juan, the agency has already started the evaluation and informal …

The Philippines’ gross international reserves (GIR) rose to a three-month high of USD104.8 billion as of end-June, boosted by higher government foreign currency deposits and investment earnings, the Bangko Sentral ng Pilipinas (BSP) said. Preliminary data released by the BSP showed that the country’s foreign exchange reserves increased from the previous month, marking the highest level since the USD106.6 billion …

Bank lending and domestic liquidity expanded at a faster pace in May, signaling stronger credit activity and improving economic momentum as earlier policy rate cuts by the Bangko Sentral ng Pilipinas (BSP) continued to gain traction. Preliminary BSP data released Tuesday night showed that loans extended by universal and commercial banks grew by 12.1 percent in May, quicker than the …

Metropolitan Bank & Trust Co. (Metrobank) has launched a new digital financial literacy campaign designed to help Filipinos make smarter financial decisions and protect themselves from online scams, debt traps, and misleading financial advice. In a news release on Wednesday, Metrobank introduced “Earnest,” a digital financial guide and avatar that delivers practical and easy-to-understand content on personal finance, fraud prevention, …

State-owned Land Bank of the Philippines (LandBank) started eliminating fees for all online fund transfers on July 7, allowing retail clients to send money for free through its Mobile Banking App (MBA) and iAccess via InstaPay and PESONet. In a statement, LandBank said the zero-fee policy also covers clients of Overseas Filipino Bank (OFBank), enabling Filipinos abroad to transfer funds …