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LIST: Bank schedules for Holy Week 2024
Bookmark and refresh this page for the Holy Week schedules released by banks.....»»
Bank loans used as RRR compliance hit P6.4 billion
Mid-sized and small banks have extended around P6.4 billion loans to micro, small and medium enterprises (MSMEs) as well as large companies, and booked these loans in compliance with their reserve requirement ratios, according to the Bangko Sentral ng Pilipinas......»»
BSP to banks, financial institutions: Prioritize national ID as top identification
The central bank said that institutions should “adopt enhanced measures to ensure the broad acceptance of the PhilID” whether its physical or electronic version as a valid proof of identity and age for all financial transactions. .....»»
Bank assets grow 10 percent to P24.8 trillion
Philippine banks’ assets grew by 10.3 percent to P24.81 trillion in January from the P22.49 trillion recorded a year ago, according to data from the Bangko Sentral ng Pilipinas,.....»»
Security Bank automates wealth management business
Security Bank Corp. has signed a five-year contract to automate its wealth management processes in line with efforts to become one of the most technologically advanced banks in the Philippines......»»
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.....»»
BPI renews alliance with Mizuho Bank
The Bank of the Philippine Islands has renewed its alliance with Japan’s Mizuho Bank Ltd., expanding and strengthening the scope of business cooperation between the two banks......»»
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).....»»
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......»»
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......»»
Bank loans to MSME grow, but still short of threshold
Loans disbursed by banks to micro, small and medium enterprises jumped by 21.6 percent to P552.41 billion from January to September last year, but remained below the mandated threshold......»»
BPI, Robinsons Bank merger clears last hurdle
The proposed merger between Ayala-led Bank of the Philippine Islands and Gokongwei-owned Robinsons Bank Corp. cleared its last hurdle after the Securities and Exchange Commission approved the marriage of the two banks......»»
Bank loans used as RRR compliance down to P8 billion
Loans extended to micro, small and medium enterprises, as well as large companies, by mid-sized and small banks that are booked in compliance with their reserve requirements have declined to P8 billion, according to the Bangko Sentral ng Pilipinas......»»
Philippines spearheads digital banking raevolution in SEA says Maya
Maya – awarded as the Best Digital Bank in Southeast Asia by the World Digital Bank Awards and recognized by Forbes Magazine as among the World’s Best Banks – stands out as a trailblazer in the region......»»
BSP to expand list of bank-issued debt papers
The Bangko Sentral ng Pilipinas (BSP) plans to further expand the types of debt instruments that banks and financial institutions can issue......»»
Bank assets hit P24 trillion in 9 months
The resources of Philippine banks grew by 8.7 percent to P24.7 trillion from January to September this year versus last year’s P22.72 trillion, according to the Bangko Sentral ng Pilipinas......»»
LIST: Banks waiving transfer fees during the holiday season
Most banks are waiving their fees until Dec. 31, 2023, with the exception of the Union Bank of the Philippines which will only waive its Instapay fees until Nov. 11, 2023. .....»»
Xinhua world economic news summary at 0930 GMT, Oct. 25
FRANKFURT -- Most banks in eurozone continued to tighten their credit standards in the third quarter of this year, according to the results of a survey conducted by the European Central Bank (ECB) and published on Tuesday. Fifty-six percent of the 157 banks involved in the ECB lending survey conducted between Sept. 15 and Oct. 2 reported they had tightened their credit standards. (Eurozone-Banks-Credit Standards.....»»
BOI accredits Security Bank for SIRV program
he Philippine Board of Investments has accredited Security Bank Corp. as one of the depository banks for the BOI’s Special Investor’s Resident Visa program......»»