We are sorry, the requested page does not exist
BPI sells shares in GoTyme Bank
The Bank of the Philippine Islands sold its 752 million common shares of GoTyme Bank Corp. to GoTyme Financial Pte. Ltd. and Giga Investment Holdings Pte. Ltd, the bank said yesterday......»»
Bankers celebrate anew at BSP’s Fort San Antonio Abad
Former Bangko Sentral ng Pilipinas governors and officials, Monetary Board members, Finance secretaries, members of the diplomatic community and who’s who in the Philippine banking community trooped to the central bank headquarters in Manila last Friday......»»
Bank credit growth slows anew in November
The expansion of credit in the country slowed anew in November 2023 due to still elevated interest rates, the Bangko Sentral ng Pilipinas said......»»
Bargain hunting lifts stocks anew
Stocks continued to rally this week, ending higher yesterday as investors took the cue from the central bank’s decision to hold interest rates steady......»»
Economists: 25-bps rate hike likely if inflation rises anew
Economists believe the Bangko Sentral ng Pilipinas might further raise its policy rate by 25 basis points to 6.75 percent next month if food supply issues and high global oil prices persist. Dan Roces, chief economist of Security Bank, said the BSP might make this decision at its meeting on 16 November to help temper inflation faster. “The higher policy interest rate is driven by mounting local inflation risks, attributed to supply chain disruptions and increasing global commodity prices, including the threat of crude price spikes brought about by tensions in the Middle East,” he told the Daily Tribune in a Viber message. Last Thursday, the central bank hiked its rate by 25 bps to 6.25 percent on an off-cycle period to arrest further inflation uptrend due to the aforementioned factors. Risks might linger Jun Neri, chief economist of Bank of the Philippine Islands, said these inflationary risks might linger until the government finds solutions to increase supply of rice, the main driver of re-accelerated inflation at 6.1 percent last month. While Neri said managing food supply is not the BSP’s responsibility, he agreed with the central bank that rate hikes can help slow inflation by restraining consumer spending. “The rate hike is a statement from the BSP that it is determined to bring inflation back to its target. Inflation expectations may shoot up further if the market doesn’t see any action from the BSP,” the economist said. Exacerbated by Israel-Hamas war “The risk of El Niño, as well as higher global crude oil prices recently among 11-month highs led to higher local fuel pump prices especially since July 2023. This could be exacerbated by the Israel-Hamas war that is still uncertain” Michael Ricafort, chief economist of Rizal Commercial Banking Corp., added. The post Economists: 25-bps rate hike likely if inflation rises anew appeared first on Daily Tribune......»»
Metrobank hailed anew as best domestic bank
Metropolitan Bank and Trust Co. was recognized once again as the country’s best domestic bank for its strong financial performance and financial education efforts at the recently held 2023 Asiamoney Best Bank Awards......»»
Security Bank named anew as best Philippines bank for high net-worth clients
Security Bank was recognized as the Philippines’ Best for High Net Worth Clients for the third straight year at the 2022 Asiamoney Asia Private Banking Awards......»»
Security Bank wins ‘Best for High-Net-Worth Clients’ award for third year
Security Bank Corporation was recognized anew as the Philippines’ Best for High Net Worth Clients at the 2022 Asiamoney Asia Private Banking Awards, making it three consecutive yearly wins for the bank. According to Asiamoney, “Technological disruption is a big part of the overall strategy. Security Bank constantly provides better, faster and safer digital access for clients for their portfolios and review services.” Security Bank launched its wealth management proposition in 2017 to offer clients personalized financial solutions geared toward their goals and objectives. The bank’s Wealth Management division was recognized in 2021 and 2022 for its ability to expand its client base despite economic and global events that affected the financial industry. “This year-on-year recognition from Asiamoney only proves that we are making the right investments in what matters to our customers. We excel in the personal approach we take for each client — they really feel that they are being serviced, that someone is really there taking care of their portfolio," said Binky Mirabueno, Wealth Management Head. In growing its client base and AUM, Security Bank’s wealth management business leverages on the strengths of the bank’s core businesses. These include the bank’s branch network reach and the product offerings from Treasury, Trust and Asset Management Group, stock brokerage through SB Equities, and investment banking services through SB Capital. “During the five-year period from 2017 to the end of September 2022, the private bank’s Assets under Management and customer base rose 44 percent and 40 percent respectively, on a compound annual growth rate basis,” added Asiamoney. “Service differentiation is a key to our continued recognition as 'Best Bank for High-Net-Worth Clients' in the Philippines. This recognition is proof that we are on the right track to fulfill our goal of becoming the most-customer centric bank in the Philippines,” said Executive Vice President and Branch Banking Head Leslie Cham. To know more about Security Bank’s recent awards, visit www.securitybank.com/awards or its Facebook page www.facebook.com/SecurityBank. The post Security Bank wins ‘Best for High-Net-Worth Clients’ award for third year appeared first on Daily Tribune......»»
BIMP-EAGA nations’ trade cooperation pressed
In his recent trip to Indonesia for the Asean meeting President Ferdinand “Bongbong” Marcos Jr. urged collaboration to foster the progress of the Brunei Darussalam-Indonesia -Malaysia-Philippines-East ASEAN Growth Area or BIMP-EAGA due to its substantial potential for development. The Chief Executive made the call as he joined the intervention of the 15th BIMP-EAGA Summit on the sidelines of the 42nd ASEAN Summit and Related Summit here. Marcos said the Philippines supports the increased focus of the BIMP-EAGA Vision 2025 on broad strategies to align sub-regional pandemic recovery and transformation efforts with the ASEAN Comprehensive Recovery Framework, particularly in the areas of food security, creative industries and E-commerce, tourism recovery, and green recovery. “So, let us continue this impetus for growth in BIMP-EAGA and thereby position our very own sub-region as a well-connected, economically thriving, multi-country trade, investment and tourism destination. There lies our future,” Marcos said. However, Marcos noted that the pandemic and the conflict in Ukraine demonstrated the need to maintain the physical connectivity that underpins the region’s extensive and comprehensive logistics chain in all its aspects. Hence, the President mentioned that the efforts to revive the tourism industries should be the utmost priority following the pandemic. Linkages must move forward “Our collective effort towards rebuilding the air and sea linkages disrupted by geopolitical challenges and the pandemic still remains the key towards our full economic recovery,” he said. “So, let us work together with our National Tourism Organizations and our private sector counterparts to breathe life into the Joint BIMP-EAGA and IMT-GT Tourism Recovery Communications Plan 2022-2024. Let us spread the tidings that a visit to the BIMP-EAGA sub-region is a safe, stress-free return to nature,” Marcos added. Increased tourism will also reinvigorate the sub-regions micro, small and medium enterprises or MSMEs, the backbone of the economy fundamental to achieving sustainable economic growth and narrowing the development gap, and instrumental in wealth and employment creation, raising standards of living and poverty reduction. The President also rallied anew for support for “nano businesses,” or the kind of self-employed businesses that fall outside of the category of MSMEs, such as dry cleaners, corner shop owners, single retail marketers, repairers and painters, among others. “Though they constitute a large portion of all economies, viable, and play an important role across the country, they remain unrecognized… aiding them will contribute to our overall economic growth and will narrow those development gaps,” Marcos said. The President also emphasized the importance of BIMP-EAGA’s synergies and partnerships with external partners, such as the Asian Development Bank, Japan, Republic of Korea, China and the Northern Territory of Australia. Calling for sustained partnerships with those entities, the Philippine leader also welcomed the BIMP-EAGA-Korea Cooperation Fund or BKCF and the increase of the Republic of Korea’s contribution from $1 million in 2021 to $3 million in 2022. He reported that the Philippines, in particular, continue to benefit from the BKCF Fund from projects in the Environment, Tourism, and Connectivity Sectors, with a total support worth an estimated $1.2 million. At the same time, BIMP-EAGA must achieve strategic coherence within the larger ambit of ASEAN initiatives and sustain platforms of dialogue through regional mechanisms, including APT, RCEP, APEC, AANZFTA, and the ASEAN Plus 1 FTAs. Launched in 1994, BIMP-EAGA has delivered impressive results with the current numerous transport networks spanning the sub-region, buttressed by enhanced economic policies facilitating the movement of goods, people, and services. The post BIMP-EAGA nations’ trade cooperation pressed appeared first on Daily Tribune......»»
Stocks rise for 3rd day
Share prices climbed anew yesterday amid a scorching inflation report as investors continued to bank on hopes for China’s emergence from the COVID-19 pandemic......»»
BSP 28-day bills rate rise anew
MANILA - The Bangko Sentral ng Pilipinas' (BSP) 28-day securities registered on Friday another rate increase even as demand remained high.Data released by the central bank showed that the average rate of the debt paper increased to 3.9762 percent from 3.7564 percent during t.....»»
BSP raises key rates anew
MANILA - Monetary authorities hiked Thursday the Bangko Sentral ng Pilipinas' (BSP) key rates by 50 basis points as they cited the need to continue implementing measures to address the elevated inflation rate.This brought the central bank's overnight reverse repurchase (RRP).....»»
BSP s 28-day Bills rate jumps anew
MANILA -Rate of the Bangko Sentral ng Pilipinas' (BSP) 28-day bills rose on Friday in line with expectations for more rate hikes from the central bank.BSP data show that average rate of the debt securities, which is among the central bank's excess liquidity mopping tools, jumped to 2.8523 percent from 2.7914 percent during the auction last June 17.It lowered the offer volume by PHP10 bill.....»»
TDF rates up anew ahead of expected central bank rate hikes
MANILA - Expectations for additional hikes in the central banks' key rates resulted in another rise in the term deposit facility's (TDF) interest rates on Wednesday.Data released by the Bangko Sentral ng Pilipinas (BSP) showed that average rate of the seven-day TDF, which is.....»»
BSP 28-day bills rates rise anew
MANILA - The Bangko Sentral ng Pilipinas' (BSP) 28-day securities registered oversubscription on Friday amid higher volume offer, and its interest rate jumped anew.Data released by the central bank showed that the average rate of the BSP bills, which is among the central bank's excess liquid.....»»
Philippines growth forecasts slashed anew amid latest lockdown
Dutch financial giant ING Bank and ANZ Research expect the Philippines to make a slower bounceback from the pandemic-induced recession as stricter lockdown and quarantine measures were reimposed in the National Capital Region and nearby provinces......»»
Nomura cuts Philippine growth forecast
Japanese investment bank Nomura slashed anew its 2021 economic growth forecast for the Philippines due to the reimposition of strict lockdown measures amid the resurgence of COVID-19 infections and the slow rollout of vaccines......»»
Philippines at risk of inclusion in FATF’s grey list
The Philippines is in danger of being included anew in the grey list of Paris-based dirty money watchdog Financial Action Task Force if it fails to enact the amendments to the country’s bank secrecy laws, according to the International Monetary Fund......»»
Obiena strikes anew, nails gold in Germany
Tokyo-bound EJ Obiena geared up for a much-awaited showdown with the world’s pole vault titans headed by reigning world champion and record-holder Armand Duplantis of Sweden by topping the PSD Bank Indoor Meet in Dortmund, Germany yesterday......»»
BSP extends zero spread on bank rediscount loans
The Bangko Sentral ng Pilipinas has extended anew the zero spread on its peso rediscount loans until the end of September to entice more banks to tap the facility to meet their temporary liquidity needs......»»