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UBS sees 2-digit credit growth for Philippines banks
Banks operating in the Philippines are expected to post a double-digit credit growth this year on the back of robust economic expansion, according to banking giant UBS......»»
Landbank sees 2-digit earnings this year
Land Bank of the Philippines is looking at a double-digit growth in net income this year following a record performance in 2023......»»
NHMFC, Chinabank to boost liquidity in housing finance
The National Home Mortgage Finance Corp. and Chinabank signed an agreement to explore opportunities to increase liquidity in the housing market......»»
EastWest Bank sees sustained profit gains
Gotianun-led East West Banking Corp. is targeting to sustain its double-digit income growth this year as it expects higher consumer loan demand, according to its top official......»»
Cosco posts 2-digit jump in Q1 earnings
Robust revenues fueled a double-digit increase in the earnings of Lucio Co’s listed retail holding firm Cosco Capital Inc. in the first quarter......»»
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......»»
Monde Nissin sees sales, earnings growth in 2023
Monde Nissin Corp., the listed snack foods giant, expects core net income to have grown by mid-teens for 2023 with sales expected to have hit a high single-digit year-on-year growth......»»
Davies Paint’s Buhawe logs double-double game to beat Landlite
CEBU CITY, Philippines — John Terrence Buhawe carried Davies Paint on his back as they narrowly beat Landlite, 58-55, in the Cebu Architects Basketball Club (CABC) 6th Corporate Cup, on Sunday, April 28, at the Benedicto College Cebu City gymnasium. Buhawe erupted for a double-double performance to give Davies Paint a much-needed win to stay.....»»
Jarrett Allen makes Cavs history in win over Magic
Jarrett Allen set a franchise record with his 12th consecutive double-double, scoring 14 points and grabbing 11 rebounds as the Cleveland Cavaliers rolled to a 126-99 road blowout of the Orlando Magic on Monday. Allen surpassing Elmore Smith and Andre Drummond — with whom Allen was tied for the Cavaliers’ double-double mark coming into the.....»»
BSP sees room for further rate hike
After discounting the possibility of a rate cut in the first half of the year, the Bangko Sentral ng Pilipinas (BSP) believes there is still room to raise interest rates amid the country’s robust economic growth......»»
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......»»
Lotto, digit games suspended over Holy Week – PCSO
Lotto and other digit games will be suspended from Maundy Thursday to Easter Sunday, March 28 to 31, in observance of Lent, the Philippine Charity Sweepstakes Office announced yesterday......»»
Domestic trade expands 47 percent to P390 billion in Q1
The value of commodities traded within the country posted a double-digit growth in the first quarter, according to the Philippine Statistics Authority (PSA)......»»
Figaro confirms capex and double-digit growth target
Figaro confirmed statements made by its chairman, Justin Liu, in an interview with Manila Bulletin......»»
Banking, power, property drive up FDC profit
Strong contributions from the banking, power and property businesses fueled a double-digit earnings growth for Filinvest Development Corp. in the first quarter......»»
ALLHC seeks dominance in cold storage space
AyalaLand Logistics Holdings Corp., the industrial parks and real estate logistics arm of Ayala Land Inc., has set its sights on becoming a formidable player in the cold storage space with a sustained double-digit growth eyed for the business over the medium-term......»»
Security Bank expects higher profit in 2024
Security Bank Corp. is expecting better profitability this year amid a double-digit growth in its lending business, the bank’s investments in technology as well as its plans to put up more branches......»»
CNPF net income up by 12 percent in 2023
Century Pacific Food Inc., the Po family’s listed food and beverage firm, overcame headwinds from inflationary environment last year to finish with a double-digit profit growth, driven by a strong performance of its branded business......»»
Addressing the Philippines’ 2024 Threat Landscape: Kaspersky Launches KUMA Platform
To help Filipino businesses and organizations stay safe in cyberspace while embracing digitalization, Kaspersky announces today the launch of Kaspersky Unified Monitoring and Analysis Platform (KUMA), its integrated software solution that includes a set of functions for security information and event monitoring and management. The Philippines is expected to continue its double-digit growth towards $35B […].....»»
EastWest Bank profit hits P6.1 billion
Gotianun-led EastWest Banking Corp. saw its net income jump by 32 percent to P6.1 billion in 2023 from P4.6 billion in 2022 on the back of double-digit growth in loan portfolio and stable funding sources......»»