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ADB approves 655,000 USD to help Philippine rural banks digitization
MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will provide grants totaling 655,000 U.S. dollars for the digitization of nine rural banks and a bank consortium in the Philippines. The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, sma.....»»
ADB approves 655,000 USD to help Philippine rural banks digitization
MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will provide grants totaling 655,000 U.S. dollars for the digitization of nine rural banks and a bank consortium in the Philippines. The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, sma.....»»
Franklin ‘Ferdie’ Yee, Cebu’s newest multisports hotshot
CEBU CITY, Philippines—Rising multisports athlete Franklin Ferdie Yee has been giving everyone a run for their money in recent races. This 21-year-old lad recently etched his name as one of the best up-and-comers in the world of multisports, particularly in duathlon and triathlon. This after he ruled two consecutive races within a month. First, Yee.....»»
RCBC the best PH bank by network uptime, and UBP ranks at the bottom
Brankas, a Singapore-based fintech software and services provider, published its first annual ASEAN Bank Stability Report to measure the network uptime performance of ASEAN-region banks, and RCBC finished in the top spot among banks in the Philippines with an uptime of 98.3% (31 hours total downtime) including a stretch of seven months with zero downtime events......»»
Public sector banks doing better in managing NPAs vis-a-vis their private counterparts: FICCI-IBA survey
New Delhi [India], March 21 (ANI): Public sector banks in India are doing better in comparison to their private sector counterparts in terms of non-performing assets, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) found. A nonperforming asset refers to loans or advances that are on the brink of default. According to the survey, a large majority (77 per cent) of the respon.....»»
Sinulog Cup 2024: Best commercial teams in VisMin clash for basketball supremacy
CEBU CITY, Philippines — Some of the best commercial basketball teams in the Visayas and Mindanao will vie for supremacy in the Sinulog Cup 2024 Basketball Tournament scheduled from January 23-27, 2024. The tournament will field six commercial teams from Cebu, Bacolod, Tacloban, Ormoc, and Marawi City, while two Cesafi member schools will join this.....»»
Should Small Business Owners Concern Themselves with Sporting Events?
Every year, big sporting events in the first quarter of every year like the recently concluded Super Bowl and the upcoming NBA All-Star Weekend, which is always a hit with the Filipino market, captivate audiences around the world. For entrepreneurs, however, the question remains: should you concern yourself with these major sporting events, or are […].....»»
6th Magis Eagles Football Cup kicks off with over a hundred teams
CEBU CITY, Philippines—- Over a hundred teams will start competing in the 6th SHS-AdC Magis Eagles Football Cup, which unfolds tomorrow, February 3, at the SHS-AdC Julian Hernando Athletics Field in Barangay Canduman, Mandaue City. According to SHS-AdC athletic director Jon Ralph Christopher Jiao Inot, they have already gathered over 100 teams that have enlisted.....»»
Globe reports steep 73.7% decline in blocked bank-related spam, scam SMS in 2023
The telecommunications company Globe has reported a significant 73.7% decrease in the number of blocked spam and scam SMS related to banks in 2023. This reduction is a result of the interception of 21.9 million bank-related fraudulent messages, a sharp decline from the 83.39 million messages blocked the previous year. Globe attributes this achievement to its proactive strategies and strong partnerships with major banks and financial institutions in the Philippines. The company has established anti-fraud alliances with the Bankers Association of the Philippines and individual players in the finance sector, enabling the sharing of data and intelligence to prevent and investigate fraud effectively. Anton Bonifacio, Chief Information Security Officer at Globe, emphasized the company's commitment to combating financial fraud and enhancing security measures for customer protection. Globe has invested approximately US$20 million to improve its spam and scam SMS detection and blocking system and operates a 24/7 Security Operations Center to filter out unwanted messages from both international and domestic sources. Despite certain limitations, Globe remains dedicated to customer protection and emphasizes the need for a unified approach in the fight against fraud. The company is focused on leveraging technology and strengthening alliances with key stakeholders to combat fraudulent activities. As Globe continues to advance its technologies and collaborations, it aims to provide a safer and more secure digital environment for its customers. For more information about Globe and its initiatives, visit www.globe.com.ph. (SPONSORED CONTENT).....»»
Super Series Philippines eyes holding beginner-friendly races
The men behind Super Series Philippines bared their plans to stage more introductory and beginner-friendly aquathlon, duathlon and triathlon races this year......»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
Fitch keeps credit rating of 5 Philippine banks
Fitch Ratings has affirmed the credit rating of five of the country’s biggest banks and kept its stable outlook, on the back of a likely robust economic growth over the next two years......»»
Digital banks seen profitable in 5-7 years
Digital banks in the Philippines need five to seven years to become profitable, as only two out of six online lenders are doing well so far, according to the Bangko Sentral ng Pilipinas......»»
Banks’ bad loans swell in 2023
The soured loans of Philippine banks picked up to 3.23 percent in 2023 from the almost two-year low in 2022, according to the Bangko Sentral ng Pilipinas......»»
Indian banking sector continues to improve with better asset quality, high credit growth: Survey
New Delhi [India], March 21 (ANI): The health of the Indian banking sector continues to improve with better asset quality and high credit growth, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) showed. The eighteenth round of the survey was carried out for the period July to December 2023. Those banks that were surveyed together represent about 77 per cent of the banking i.....»»
Julia kay Aga — leading man for all seasons
PUSH NA’YANni Ambet Nabus GULAT na gulat si Julia Barretto nang malamang naging leading man din pala ng mama niyang si Marjorie ang ngayo’y leading man niyang si Aga Muhlach. Although sa nasabing movie ni Marjorie ay si Mikee Cojuangco ang naka-ending ni Aga. “I did not know that. Kuya Aga never told me. Kahit si mama, walang naikuwento na nakatrabaho niya si ….....»»
Endangered green sea turtle ‘Liit’ released back to sea
Endangered green sea turtle ‘Liit’ released back to sea.....»»
Vietnam, Philippines agree to prevent incidents in South China Sea
HANOI, Vietnam: During a state visit to Hanoi by President Ferdinand Marcos Jr., this week, Vietnam and the Philippines agreed to prevent untoward incidents in the South China Sea and enhance the cooperation between their coastguards. The two memorandums of understanding (MoU) on security signed by the two Southeast Asian countries, which have competing claims over parts of the South China Sea, cover "incident p.....»»
Vietnam, Philippines agree to enhance South China Sea security
HANOI, Vietnam: During a state visit to Hanoi by President Ferdinand Marcos Jr., this week, Vietnam and the Philippines agreed to prevent untoward incidents in the South China Sea and enhance the cooperation between their coastguards. The two memorandums of understanding (MoU) on security signed by the two Southeast Asian countries, which have competing claims over parts of the South China Sea, cover "incident p.....»»
Banks’ bad loans rise in February
The soured loans of Philippine banks picked up for the 14th straight month in February, bringing the gross non-performing loan ratio to a steady 3.44 percent, amid high interest rates......»»