More rural banks in the Philippines are now consolidating their operations in response to the Bangko Sentral ng Pilipinas (BSP)’s efforts to enhance the risk management of small banks and strengthen the financial health of the sector. Facade shot of the BSP office in Manila (IMAGE CREDIT: www.bsp.gov.ph) This was the general assessment made by […]
To restore the profitability of banks and guarantee business continuity, the Bangko Sentral ng Pilipinas (BSP) has recently advised mid-sized banks to create and submit their recovery frameworks against high-stress scenarios. Facade shot of the BSP building in Manila (IMAGE CREDIT: www.bsp.gov.ph) Speaking during the 2023 annual convention of the Chamber of Thrift Banks (CTB), […]
Over the course of the next five years, East West Banking Corp. may be expected to raise the bonds it will be issuing, increasing the total by up to P30 billion, for use to refinance its maturing obligations, promote asset expansion, and diversify funding sources. In a disclosure made to the Philippine Stock Exchange (PSE), […]
Two new members of the Philippine Monetary Board have just been sworn in! Welcome Rosalia V. De Leon, former National Treasurer, and Romeo L. Bernardo, former undersecretary of the Department of Finance, who will both serve six-year terms as the newest members of the Philippine Monetary Board. Bangko Sentral ng Pilipinas (BSP) Governor Eli M. […]
With 1.4 billion people still excluded from the formal financial system, leaders of central banks, ministries of finance, as well as financial regulators from all over the world are now gathering in the Philippines to discuss how to make financial products and services safe, accessible, and affordable for all. About 700 delegates from over 70 […]
In response to the Bangko Sentral ng Pilipinas (BSP)’s feedback, the Gokongwei-owned Robinsons Bank Corp. and the Ayala-led Bank of the Philippine Islands (BPI) have recently announced that they will soon be undertaking a fresh new strategy and will be making changes in the implementation of their articles of merger. According to a media advisory […]
Metropolitan Bank and Trust Co. (Metrobank) has once again been hailed as the country’s top domestic bank, duplicating its feat in 2021 when it was conferred the same honors at the height of the pandemic. The award was given to Metrobank for its impressive financial performance and commitment to financial literacy at the recently concluded […]
Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona, Jr. recently expressed concern about further “financial accidents” that may be brought on by the strong rate increases implemented by the US Federal Reserve to combat inflation. In a media advisory, the BSP chief said that the US central bank’s tightening cycle could result in more unpredictable […]
A top official of the Development Bank of the Philippines (DBP) announced recently that the state-owned financial institution has won a total of five awards for its laudable contributions aimed at advancing the development of capital markets in the country. The award was conferred during the 8th IHAP Awards organized by the Investment House Association of […]
Less than a year after its inception, GoTyme Bank, a joint venture between the Gokongwei business and Singapore’s multi-country digital banking business Tyme, reported it has hit its one millionth customer milestone earlier this month. The digital bank, which was soft-launched in the Philippines in October 2022, attributes this remarkable achievement to its distinctive and […]
