The Market Monitor Minding the Nation's Business

When shareholders of Rizal Commercial Banking Corp (RCBC) dumped their shares after the bank’s Jupiter branch was implicated in the $81-million cyberheist that hit the Bangladesh central bank, the result was disastrous for the bank’s share prices. From a year high of P47.70 per share, the bank’s share prices plummeted to P28.75. 

By Jerry Maglunog In the late 1980s, there were about 1,200 rural banks that provided credit in the countryside. It was the heyday of the rural-bank industry when fewer than 200 of them had assets of close to P1 billion.

Commercial banks, as well as their credit-card affiliates, report very high consumer lending, showing an increasing number of Filipinos spending more as a result of a robust economy.

To meet investment targets for public infrastructure, the Infrastructure Committee of the National Economic and Development Authority (Neda) approved the reinstitution of a three-year rolling infrastructure program in the national budget process, starting in 2017. 

A lawmaker has proposed the creation of the National Drainage Authority (NDA) that shall study, improve, administer and construct all national drainage systems in the country. 

Laguindingan, Misamis Oriental—The government has surpassed its target of bringing electricity to rural areas nationwide through the Sitio Electrification Program (SEP). 

Higher government spending on infrastructure will boost gross domestic product (GDP) growth in the first quarter of 2016, according to Budget Secretary Florencio B. Abad. 

The development and progress among regions in Southern Luzon is expected to be enhanced by a bill seeking to establish the Quezon-Bicol Expressway, which has already been endorsed for plenary approval. 

Maynilad Water Services Inc. has started a sewer network project along Dr. A. Santos Avenue in Parañaque City. 

Proper preparation goes a long way. A new solar-power system has armed an elementary school with the right tools to endure the worst floods, especially when power lines are down.