Mocasa, the Philippines’ pioneering virtual credit wallet, is here to empower individuals and families with practical saving strategies designed for the festive “ber months” of 2024. As the holiday season approaches, Filipinos are not only eager to celebrate but are also keen on securing their financial future. The “ber months” bring a surge in spending […]
Maya Bank Inc., the digital banking arm of PLDT Inc., is making significant strides towards profitability, driven by a surge in its lending operations and a growing customer base. The positive cash flow recorded in the second quarter of the year marks a key milestone for the bank as it edges closer to its financial […]
BDO Foundation, the corporate social responsibility arm of BDO Unibank, recently took a significant step toward fostering financial inclusion and sustainable business growth for market sellers and SMEs in Iloilo City by offering them a comprehensive financial literacy course. This initiative was tailored to equip local entrepreneurs with essential financial knowledge and skills, empowering them […]
In a landmark event held last August 19, 2024, the Bangko Sentral ng Pilipinas (BSP) and the National Bank of Cambodia (NBC) took a significant step towards strengthening their bilateral relationship by signing a Memorandum of Understanding (MOU) aimed at enhancing cooperation between the two central banks. The signing ceremony, which was held in the […]
The Philippines is currently making significant strides towards achieving rice self-sufficiency, with a recent projection indicating a 95-day rice stock by the end of the year. This milestone reflects the effectiveness of strategic agricultural planning and the resilience of Filipino farmers, who have persevered through numerous challenges to bolster the nation’s food security. However, while […]
In a significant milestone for the financial landscape of the Philippines, Salmon, a fintech company dedicated to enhancing access to credit, savings, and investments for over 500 million underserved customers across Southeast Asia, has recently been honored with the prestigious 2024 Asian Banking and Finance (ABF) Fintech Start-Up Award – Philippines. The award, presented at […]
The Bangko Sentral ng Pilipinas (BSP) and the Department of Labor and Employment (DOLE) are calling on labor and employer sector leaders to embrace digital wage payments as a critical step toward enhancing financial inclusion in the Philippines. Photo shows BSP Deputy Governor (DG) Bernadette Romulo-Puyat and Labor Assistant Secretary Amuerfina Reyes after leading the […]
The Land Bank of the Philippines (LANDBANK) has recently taken the lead in strengthening the country’s power industry by extending a significant portion of the P110-billion syndicated loan facility to the state-owned Power Sector Assets and Liabilities Management (PSALM) Corporation. Photo shows PSALM President and CEO Dennis Edward A. Dela Serna (2nd from right), LANDBANK […]
In a significant move to enhance the security and efficiency of digital payment systems in the Philippines, the Bangko Sentral ng Pilipinas (BSP) recently issued Circular No. 1198, which introduces a comprehensive Regulatory Framework for Merchant Payment Acceptance Activities (MPAA). According to the BSP’s media advisory, the circular is poised to set new standards and […]
In a recent report by the Bangko Sentral ng Pilipinas (BSP), the gross non-performing loans (NPL) ratio of local banks dropped to a two-month low of 3.51 per cent in June this year, a development that provides some optimism amid the ongoing challenges in the financial sector. The NPL ratio, a key indicator of the […]
