Digital payments nearing 50% of all transactions
The Bangko Sentral ng Pilipinas (BSP) remains confident that it will achieve its goal of shifting at least 50 percent of all payment transactions in digital form by end-2023.BSP Deputy Governor Mamer
BSP, banks, to study cuts in costly e-payments
The Bangko Sentral ng Pilipinas (BSP) said on Thursday, March 2, that it has began the review of e-payment transactions and to study how soon it can work with both banks and non-banks in reducing e-p
BSP poised for more rate hikes — Medalla
Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said there will be more policy rate increases this year to bring down inflation to below four percent in November or December, or at the v
Hot money nets $292M in January
The Bangko Sentral ng Pilipinas (BSP) registered $292.12 million “hot money” net investments for the month of January, higher than December’s $92.95 million and from same period in 2022 of $14.6 mill
BSP relaxes rule on PERA administrators’ required security
The Bangko Sentral ng Pilipinas (BSP) said it has reduced the 0.5 percent security for all administrators of the Personal Equity and Retirement Account (PERA) to a zero rate, effectively removing thi
AIA PH sets up P155-B wealth management unit
AlA Philippines has launched on Thursday, Feb. 23, the company’s investment management arm in the country. In a briefing, Kelvin Ang, AlA Philippines chief executive officer introduced AlA Investment
BSP’s Paleng-QR Ph in Metro Manila cities soon
After implementing the Paleng-QR Ph Plus program in several key areas outside of the National Capital Region, the central bank is launching the digital payments ecosystem in Pasig this week, the firs
DBP net income up 50% to P5.6 billion
State-owned Development Bank of the Philippines (DBP) full-year net income surged by 50 percent in 2022 reaching P5.61-billion compared to the P3.74-billion that it earned in 2021, as lending activit
BSP to hike rates by 25 bps next month, sees lower Feb. inflation — Medalla
Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said they will do another 25 basis points (bps) rate increase on March 23 on expectation of a lower inflation for the month of February, o
Maharlika Fund current version is acceptable – Medalla
The current Senate version of the proposed Maharlika Investment Fund (MIF) is more acceptable than previous design, particularly since it will not touch the country’s US dollar reserves, according to
Turkish Islamic bank eye PH business
An Islamic bank based in Turkey is exploring ways to put up a subsidiary or unit in the Philippines and could possibly be the first foreign bank to go into Islamic finance here, according to a centra
BSP gets P10B add’l capital from gov’t
The government will infuse P10 billion as additional capital to the Bangko Sentral ng Pilipinas (BSP), raising its current P50 billion to P60 billion authorized capitalization, but still short of the
BSP ups bills’ auction, but undersubscribed
The central bank raised the auction volume of 28-day securities on Monday, Feb. 27 to P160 billion from the previous week’s P140 billion but it was undersubscribed with a higher yield.Bangko Sentral
RCBC profit surge 71%, becomes 5th biggest private bank
Rizal Commercial Banking Corporation reported a 71 percent surge in net income to P12.1 billion last year, supported by the double-digit increase in core business income.In a disclosure to the Philip
BDO profits jump 33%, declares higher dividend
BOO Unibank, Inc. reported a 33 percent jump in profits to P57.1 billion last year from P42.8 billion in 2021, driven by robust growth across its core businesses.In a disclosure to the Philippine Sto
BSP forecasts 8.5%-9.3% February inflation
The Bangko Sentral ng Pilipinas (BSP) forecasts February inflation to hit a high of 9.3 percent or a low of 8.5 percent versus January’s actual rate of 8.7 percent amid persistent high prices.In a st
Security Bank earnings jump 53% to P10.6 B
Security Bank Corporation posted a 53 percent jump in net income to P10.6 billion in 2022, driven by growth in core businesses, lower credit provisions and normalized income tax provisions. In a disc