If you think high oil prices and increasing bank interest rates only concern motorists and business owners, think again! In a press release posted on its website, the Philippines’ leading central banker has recently issued a warning about the risks facing the nation’s financial system due to energy-related products and the ongoing high-interest rate environment. […]
Preliminary data culled from the Bangko Sentral ng Pilipinas (BSP) website revealed that the outstanding loans of universal and commercial banks (U/KBs) in the Philippines experienced a notable increase of 9.6 per cent year-on-year (YoY) in April, up slightly from 9.4 per cent in March. IMAGE CREDIT: https://www.vecteezy.com/ This growth, excluding reverse repurchase (RRP) placements […]
The City of San Fernando has officially launched the Paleng-QR Ph Plus initiative to encourage digital payment transactions across public markets, public utility vehicles, and local businesses. Photo shows BSP Regional Operations Sub-sector Managing Director Rosabel B. Guerrero (third from left) together with Reggie David (fifth from left), City of San Fernando Councilor, as he […]
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. emphasized yesterday the crucial role of developing and deepening the Philippine capital markets for the country’s economy’s growth. Photo shows Euben Paracuelles (leftmost), Nomura Chief ASEAN Economist, while facilitating the panel discussion. Joining him were (starting at 2nd from left:) Iluminada T. Sicat, BSP Senior […]
Earlier last week, a team of experts from the Bangko Sentral ng Pilipinas (BSP) joined Her Majesty Queen Máxima of the Netherlands and the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA), on a series of field visits in Rizal province. BSP Deputy Governor Bernadette Romulo-Puyat (pictured on the left) greets Her […]
At its meeting held earlier this week, the Philippine Monetary Board decided to maintain the Bangko Sentral ng Pilipinas (BSP)’s Target Reverse Repurchase (RRP) Rate at 6.50 per cent. The interest rates for the overnight deposit and lending facilities will also remain unchanged at 6.0 and 7.0 per cent, respectively. Risks to the inflation outlook […]
A recent survey by the Bangko Sentral ng Pilipinas (BSP) indicates that Philippine banks are likely to maintain or tighten their loan standards for both businesses and consumers. Results of the Q1 2024 Senior Bank Loan Officers’ Survey (SLOS) were interpreted using the modal approach while the diffusion index (DI) method was used to reflect […]
BillEase, an on-demand consumer credit that provides financial products such as personal loans, e-wallet top-ups, prepaid load, and gaming credits, has recently integrated the national QR code standard, QRPh, into its platform through a partnership with Asia United Bank (AUB). IMAGE CREDIT: https://billease.ph/ This seamless integration empowers BillEase users to effortlessly scan any P2M QR code […]
Last April 24, the City of Laoag initiated the Paleng-QR Ph Plus program to encourage digital transactions in public markets, transportation, and businesses in the city. Photo shows BSP Deputy Governor Bernadette Romulo-Puyat (center) together with (l-r:) BSP Managing Director Charina B. De Vera-Yap, Ilocos Norte Governor Matthew Marcos J. Manotoc, Laoag City Vice Mayor […]
The Bangko Sentral ng Pilipinas (BSP) recently issued its Report on the Philippine Financial System for the second semester of 2023, highlighting the Philippine financial system’s resilience amidst macroeconomic uncertainties while supporting the country’s economic recovery and growth. IMAGE CREDIT: www.bsp.gov.ph The report covers the performance of foreign bank branches and subsidiaries, foreign currency deposit […]
