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S& P: Philippines may miss growth goal this year
S&P Global Ratings sees the Philippines again missing its growth targets this year as it kept its gross domestic product growth forecast at 5.9 percent. While the projection is better compared to other economies in the region, it is again below the government’s 6.5 to 7.5 percent growth target......»»
CitySavings Named One of the 2024 Philippines’ Growth Champions
City Savings Bank (CitySavings) continues to cement its position to become the leading mass market bank in the country with its inclusion as one of the 2024 Philippines’ Growth Champions. The Philippine Daily Inquirer released the report with international market research firm Statista. This year’s Philippines’ Growth Champions are companies with remarkable growth and resilience […].....»»
DTI allows manufacturers to downsize certain goods to offset rising costs
MANILA, Philippines — The Department of Trade and Industry (DTI) announced on Wednesday that manufacturers of essential goods can maintain profitability amid rising production costs by reducing product sizes or weights, instead of increasing prices. Trade Assistant Secretary Amanda Marie Nograles explained during the televised Bangon Pilipinas briefing that the DTI permitted this adjustment for.....»»
PNB books 10.4% growth in Q1 income
Philippine National Bank of tobacco and airline magnate Lucio Tan booked a 10.4-percent increase in earnings to P5.31 billion in the first quarter from a year-ago level of P4.81 billion, boosted by core business growth and lower credit provisions......»»
D& L bonds maintain top credit rating
D&L Industries Inc., the country’s leading specialty food ingredients and oleochemicals producer, has maintained the highest credit rating for its outstanding bonds......»»
EastWest ramping up credit business
Gotianun-led East West Banking Corp. is strengthening its credit business for possible upticks in loan demand later this year, its top officia.....»»
Asialink secures P300 million credit line from Taiwanese bank
Asialink Finance Corp. has secured a P300-million credit line facility from Taiwan’s Cathay United Bank, shoring up resources that small borrowers can tap into for their expansion plans......»»
Why the dollar is still strong
Despite the ongoing wars in Ukraine and Gaza, Fitch’s credit rating downgrade of the US, the lowering of the US credit rating outlook to negative by Moody’s and a growing US debt burden, the US dollar has regained its strength......»»
Why the dollar is still strong
Despite the ongoing wars in Ukraine and Gaza, Fitch’s credit rating downgrade of the US, the lowering of the US credit rating outlook to negative by Moody’s and a growing US debt burden, the US dollar has regained its strength......»»
RCBC credit cards now made from recycled PVC
Yuchengco-led Rizal Commercial Banking Corp. has phased out single-use plastics and shifted to recycled polyvinyl chloride plastic in producing its credit cards as part of its efforts to lessen carbon emissions and promote sustainability......»»
BSP to review 3 percent rate cap on credit card transactions
The Bangko Sentral ng Pilipinas will review this month whether to keep or hike the three percent interest rate cap on credit card transactions......»»
BPI lends fresh P7 billion to Home Credit Philippines
Bank of the Philippine Islands has extended an additional P7 billion loan to Home Credit Philippines, making it the financing firm’s biggest lender......»»
Tax credit scam: 5 ex-DOF execs get 8 years
The Sandiganbayan has affirmed the conviction of five former officials of the Department of Finance for graft over the multibillion-peso tax credit scam in the 1990s......»»
Wise takes no credit
PBA legend Francois Wise claims no credit in how his godson Bennie Boatwright Jr. has become an outstanding basketball player although it’s often mentioned he was responsible for teaching the San Miguel Beer import his rebounding techniques......»»
Digital banks post significant deposit, loan growth in 2023
The digital banking sector has recorded a significant growth in total deposits and loans in 2023 compared to a year ago, as consumers looked for more accessible and user-friendly financial services......»»
SMIC banks on areas outside NCR for growth
SM Investments Corp. (SMIC) of the Sy family is betting big on the countryside to support the group’s continued growth......»»
Agriculture loans surge to P3.2 trillion
Loans extended by banks to the agriculture sector significantly rose to P3.2 trillion as of June 2023 from the P848 million agri-agra credit allocated in the same period in 2022, the Bangko Sentral ng Pilipinas said......»»
This Pinoy company is making an impact through financial technology
“We started by looking at transforming and [digitizing] rural banks. Along the way we discovered a number of pain points, one of which is how to improve their credit process.” Tapiador said......»»
Gov t cuts growth target to 6%-7% — NEDA
In a press briefing with the members of the press on Thursday, Balisacan said that the country's economic growth target had been revised following a careful consideration of factors such as the global economic slowdown, rising oil prices and inflation trends......»»
Moody’s outlook: Philippine banks remain on stable footing
Moody’s Investors Service has maintained a stable outlook for Philippine banks as interest rate cuts from the Bangko Sentral ng Pilipinas this year are seen to support economic recovery......»»