CARD Bank, continues to serve in the new normal
CARD Bank held its mid-year business review and planning on July 8-10, 2020 with the theme “Moving forward to the new normal fueled by the same mission of poverty eradication”......»»
CARD RBI offers solar loans to combat rising power costs
For the bank, this solar loan program further defines their commitment to creating a brighter, sustainable future for everyone......»»
Riding the Wave
Unbound from desk work, I finally attended an afternoon press event for the unveiling of Security Bank’s newest credit card offering at The Island at the Palace in Bonifacio Global City in Taguig last week and followed the invitation instructions to come in resort wear, or at least in what in my book is equivalent to resort wear......»»
Security Bank leverages AI to boost loans
Security Bank Corp. is leveraging artificial intelligence to boost home loans and credit card approvals......»»
Deceased Maine shooter had mental health problems: police
Police in Maine said Saturday that the man who gunned down 18 people at a bar and a bowling alley and later committed suicide, suffered serious mental health issues, but was able to buy weapons legally because he had never been forcibly committed to treatment. The body of Robert Card, a 40-year-old army reservist, was discovered Friday night inside a tractor-trailer near a recycling center where he used to work, said Maine public safety commissioner Mike Sauschuck. Card had shot himself. Investigators are still struggling to determine Card's motive for carrying out Wednesday's massacre in the town of Lewiston. However, Sauschuck said that Card had reportedly been hearing voices and suffering from paranoia. "Clearly there's a mental health component to this," Sauschuck told reporters. Investigators found a "paper-style" note that Card had left to a loved one which contained a password to his phone and bank account information, Sauschuck said, adding that the note had the tone of a suicide letter. Card was found in possession of three weapons, one of them a long gun, all purchased legally because he had never been forcibly committed to a mental institution. Despite the apparently clear mental health issues and a reportedly recent psychiatric evaluation undergone by Card, "a background check is not going to ping that this individual was prohibited," Sauschuck added. The sigh of relief The discovery of Card's body ended a massive two-day manhunt, which had this quiet city of 38,000 people on lockdown, with businesses and schools closed and residents terrified. Sauschuck acknowledged the help Card's family had provided to the investigation, saying his relatives were among the first people to call the police and identify the suspect. "This family has been incredibly cooperative with us," he said. Lewiston finally breathed a sigh of relief with businesses beginning to open and people appearing on the streets Saturday. Several posters reading "Lewiston strong" were seen in the city. Shukri Abasheikh, 60, was finally able to reopen her halal grocery store after the lockdown. "This morning I'm so happy because the last two days, we were worried a lot and we were scared," Abasheikh told AFP. "My customers were calling me saying we don't have milk, we don't have anything, can you open and I said, 'I'm scared.'" Upon learning that Card was dead, Sheri Withers, 44, owner of a Lewiston art gallery, said she felt "a balance of relief and remembering how to breathe, but also just being sad because, you know, it was a human life." For now, residents are "just trying to rebuild the pieces, and getting on from here is gonna be the next step for our community," she added. A local resident named Danica, who was buying coffee at a drive-through, said she was happy Card was dead, but at the same time wished he had first been brought to justice. "I think he took the coward's way out of doing it by suicide," Danica, who declined to give her last name, told AFP. "I think he should be held accountable for his crimes." In a statement issued shortly after Card's body was discovered Friday night, President Joe Biden vowed to renew efforts to curb gun violence in the United States. "Americans should not have to live like this," Biden said. "I will continue to do everything in my power to end this gun violence epidemic." Biden said the shooting brought "a tragic two days -- not just for Lewiston, Maine, but for our entire country." Authorities on Friday identified the victims, ranging from a husband and wife in their 70s to a 14-year-old boy killed alongside his father. This was one of the deadliest shootings in the United States since 2017, when a gunman opened fire on a crowded music festival in Las Vegas, killing 60 people Mass shootings are alarmingly common in the United States, a country where there are more guns than people and where attempts to clamp down on their spread are always met with stiff resistance. The United States has recorded over 500 mass shootings this year, according to the Gun Violence Archive, a non-governmental organization that defines a mass shooting as four or more people wounded or killed. Efforts to tighten gun controls have for years run up against opposition from Republicans, staunch defenders of the constitutional right to bear arms. The political paralysis endures despite widespread outrage over recurring shootings. The post Deceased Maine shooter had mental health problems: police appeared first on Daily Tribune......»»
UnionBank cardholders get pre-sale Miss Saigon tickets access
The new staging of one of the most iconic musicals of all time takes the stage in the Philippines, and Union Bank of the Philippines (UnionBank) is giving its cardholders a chance to score tickets before everyone. GMG Productions, in association with GWB Entertainment, has announced that Sir Cameron Mackintosh’s globally acclaimed new production of Boublil & Schönberg’s Miss Saigon is coming to Manila in March 2024. Dedicated to bringing top-tier musical entertainment to Manila, GMG Productions is again partnering with UnionBank to fan the flames of theatrical passion and give its customers exclusive access as the official presenting sponsor and pre-sale partner of Miss Saigon Philippines. Get the best seats before they’re gone as UnionBank will be holding a ticket pre-sale event exclusively for UnionBank credit and debit cardholders. Exclusive booking period From 23 to 27 October 2023, UnionBank card holders can enjoy the exclusive booking period and a 10 percent discount on their ticket purchase by using the first six digits of their card as a promo code. There will also be another chance for UnionBank cardholders to get their hands on tickets, with the extended pre-sale from 28 October to 3 November 2023. Tickets open to the public on 6 November 2023. Miss Saigon is a retelling of Giacomo Puccini’s Madame Butterfly, moving the story to 1970s Vietnam, where Kim, a young Vietnamese woman, falls in love with an American G.I. named Chris during the final days of the Vietnam War. The story follows Kim as she embarks on her three-year journey to reunite, all while carrying a secret. Filipino artists such as Lea Salonga, Monique Wilson, Joanna Ampil, Jon Jon Briones, Rachelle Ann Go, Isay Alvarez-Seña, Leo Valdez, Aicelle Santos and Red Concepcion have all been a part of the classic stage production over the years, along with countless other homegrown talents who have showcased the incredible depth of talent within the Filipino community. The post UnionBank cardholders get pre-sale Miss Saigon tickets access appeared first on Daily Tribune......»»
BSP urges free service fee for small fund transfers
The Bangko Sentral ng Pilipinas plans to issue a payments framework aimed at removing transaction fees for small fund transfers. BSP Governor Eli Remolona Jr. on Thursday said central bank officials have also been talking with e-wallet firms and other digital financial services providers to create the framework which will require financial firms to offer free fund transfers for small amounts. He said only three major banks are offering such service so far amid the lack of formal guidelines and directive from the BSP. Shame major banks “We’re trying to shame other major banks into following the same service. We’re formalizing it through a payments framework, and we’re in touch with GCash, Maya and other digital financial services providers,” Remolona said Thursday during the Global Policy Forum on Financial Inclusion organized by the Alliance for Financial Inclusion at the Philippine International Convention Center in Pasay City. With zero fees for small fund transfers, Remolona said more Filipinos would be encouraged to avail of banking services like deposit accounts, build wealth, and promote equitable financial service. “In general, we want to make sure the poor do not subsidize the rich. If you have a credit card and a big spender, you can get rewards. Guess who pays for the rewards? It’s the poor guys who only use small amounts in their transactions and get charged,” the BSP governor said. As more Filipinos own deposit accounts even with small funds, Remolona added banks and other lenders can strengthen their capital capacities. “We’ve found that when deposits are small, they become sticky and depositors don’t run away at the first sign of trouble. If you can lend to the poor, you have a more diversified portfolio and so it’s safer for banks,” the BSP governor said. Manila Manifesto During the Global Policy Forum on Financial Inclusion attended by over 700 foreign bankers and other stakeholders, Remolona announced the Manila Manifesto. This is a commitment by the Philippines to collaborate with other state-members of the Alliance for Financial Inclusion or AFI on developing global standards for making financial products and services safe, accessible and affordable for all. AFI reported 1.4 billion people worldwide still cannot access financial services due to a range of factors, such as financial illiteracy and lack of Internet connection and digital banking platforms. “In the 15 years since AFI was created, with substantive support from the BSP, our members have brought over 840 million people into the financial system via enlightened national policies and strategies on financial inclusion,” Dr. Alfred Hannig, AFI executive director, said. The post BSP urges free service fee for small fund transfers appeared first on Daily Tribune......»»
CIMB Bank taps Visa for debit card portfolio
Digital-only bank CIMB Bank Philippines has partnered with Visa to boost its debit products growth through its virtual and physical cards......»»
AUB, Mastercard tie up for virtual card launch
Asia United Bank has tied up with Mastercard to launch a virtual card for online purchases as more Filipinos embrace digitalization......»»
Duterte giveth, Diokno taketh
Since his call in 2017 to veto Republic Act 10931, the law granting free higher education, Finance Secretary Benjamin Diokno has been singing the same dissonant melody. A similar theme can be heard in his most recent attempt to cast doubt on the program’s long-term viability, which is frequently praised as one of the Duterte administration’s legacies. However, as Diokno continues to bang his well-worn drum, it becomes increasingly obvious that his arguments are out of tune and lacking in both substance and harmony. The frequently repeated assertion by Diokno that the free college program is “anti-poor” because of its supposed bias toward wealthy students doesn’t ring true with logic or facts. His claim that wealthy students have supplanted their less advantaged peers in the competition for openings at state universities and colleges lacks supporting data. He tries to play the fiscal unsustainability card by asserting that the program is an exorbitant financial burden for the government. This perspective is myopic because education spending continues to be one of the most effective ways to boost the economy and create jobs. In fact, a World Bank report has said that every dollar spent on education generates ten times as much in economic benefits, thus emphasizing the real worth of such expenditures under RA 10931. Additionally, Diokno ignores the reality that the program has been in force since 2018 after President Duterte rebuffed his veto campaign. After six years of effective implementation, for Diokno to suddenly pronounce it untenable sounds more like pessimism than a valid criticism. Diokno also veers away from the upbeat chorus that is led by President Ferdinand Marcos Jr. and his predecessor, former President Duterte, as he continues to play his dirge. His persistent pessimism has turned him into a maestro of despair rather than a conductor of progress. The Finance chief certainly needs a lot of the can-do attitude of both Marcos and Duterte, the latter with the bravado and tenacity he showed in guiding the country through the turbulent waters of the Covid-19 pandemic. Diokno should learn to instill confidence in the hearts of the populace, or he should just hand the job to someone who would tackle it with more vigor. Diokno claims that wealthy kids who can afford review lessons and other incidental costs are disproportionately benefited by RA 10931. This claim is again without basis as a lot of impoverished students have gained access to higher education without having to pay tuition thanks to this law. A thorough assessment by the Commission on Higher Education showed that the free college program has dramatically increased enrollment rates among students from low-income families. This should lay bare the falsity of Diokno’s claims. If we may add, the CHEd study also resonated with people by emphasizing its contribution to closing the achievement gap between the affluent and the less fortunate. Probably most befuddling of all was Diokno’s unsettling claim that the program benefits students who live close to public universities and colleges. This conflicts with what we see on the ground, of students renting bed space or living with their relatives so they can be near their schools, wherever they may be located. Additionally, the value of an educated citizenry transcends geographical boundaries in the grand scheme of nation-building. It’s ironic that for a Finance chief, the needed comprehension of the complexity of not only our economy and the numbers but also how they relate to society and people seems absent from Diokno’s spiel opposing free higher education. His quest to repeal RA 10931 has fallen short of capturing the long-term benefits of investing in education to improve the lives of underprivileged youngsters. Diokno’s desire to take away what Duterte and Congress have given would be a step backward and an assult in the minds of millions of Filipino students. While undermining President Duterte’s legacy, Diokno’s dissonant song poses a threat to muffle the dreams of numerous Filipino students, one that is intended to deprive them of the opportunity to pursue higher education and the prospect of a better future. The post Duterte giveth, Diokno taketh appeared first on Daily Tribune......»»
Bank lending declines, consumer loans rise
Bank lending of universal and commercial banks posted slower expansion amid higher money supply in the country, data from Bangko Sentral ng Pilipinas showed on Thursday. Preliminary data showed that domestic liquidity (M3) grew by 5.9 percent year-on-year to about P16.4 trillion in June 2023 from 6.6 percent in May, driven by the sustained expansion in bank lending to non-financial private corporations and households. On a month-on-month seasonally-adjusted basis, M3 increased by about 0.2 percent. Domestic claims rose by 10.1 percent year-on-year in June from 11.4 percent in the previous month. Claims in the private sector grew by 7.9 percent in June from 9.3 percent in May. Net claims on the central government also expanded by 17.2 percent in June from 18.3 percent in May, owing mainly to the borrowings by the National Government. Net foreign assets in peso terms fell by 2.8 percent year-on-year in June following a 2.7-percent expansion in May. The BSP's NFA position declined by 0.6 percent in June after increasing by 4.2 percent in the previous month. Meanwhile, the NFA of banks declined on account of higher bills payable. "Looking ahead, the BSP will continue to ensure that domestic liquidity conditions remain in line with the BSP's price and financial stability objectives," BSP said. Meanwhile, U/KBs' outstanding loans, excluding those placed in the central bank's reverse repurchase facility, grew at a slower rate of 7.8 percent year-on-year in June from 9.4 percent in May due to a continued rise in lending to key sectors. On a month-on-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs, increased by 0.6 percent. Outstanding loans to residents, net of RRPs, also increased at a softer pace of 7.9 percent from 9.3 percent in May. Outstanding loans for production activities went up by 6.3 in June, following a 7.9-percent expansion in the previous month due to a continued rise in lending in electricity, gas, steam and airconditioning supply (11.8 percent); wholesale and retail trade, and repair of motor vehicles and motorcycles (9.7 percent); real estate activities (3.8 percent); financial and insurance activities (7.7 percent); and information and communication (11.2 percent). Likewise, outstanding loans to non-residents went up by 4.8 percent in June from 13.2 percent in the previous month. Meanwhile, consumer loans to residents rose at a slightly faster rate of 23.7 percent in June from 22.7 percent in May given the increase in credit card and motor vehicle loans. "The slowdown in credit activity reflects the impact of monetary policy tightening which continues to work its way through the economy," BSP said. "Looking ahead, the BSP remains prepared to ensure that domestic liquidity and lending dynamics are in line with its price and financial stability objectives," BSP added. The post Bank lending declines, consumer loans rise appeared first on Daily Tribune......»»
GCash keeps fee’s subsidy
Financial super application GCash will continue to subsidize the convenience fee for cash-ins to provide a financial cushion to users amid the rising cost of goods. At a recent media briefing of the Globe Group, GCash president and CEO Martha Sazon said that while users are still charged a fee for cash-ins, it is still “much lower” than the P25 that other financial institutions usually charge for cash transfers because of the subsidy. “The P5 convenience fee is only 1/5 of what is normally charged by other financial institutions. As GCash continues to scale, we still subsidize most of the charges as well as heavily invest in upgrading our infrastructure and reinforcing security services,” Sazon said. “This also ensures that our operations will remain seamless for all customers,” Sazon said. “Even with this fee, we will continue to subsidize part of the operating cost for cash-ins as we remain committed to keeping our services accessible to many Filipinos,” she added. More cash-in options Later this year, GCash is set to charge a cash-in or convenience fee of P5 for every cash-in via linked BPI and UnionBank accounts. Cash-ins via linked bank accounts are one way to add funds to a GCash account. Over-the-counter cash-in is also available through cash-in machines, partner convenience stores, pawnshops, supermarkets, department stores, drug stores, gas stations, sari-sari stores and retail stores, among others. Meanwhile, GCash has waived fees for QRPH transactions for merchants until the end of the year, giving micro-entrepreneurs extra earnings while using convenient cashless transactions. Other payment platforms charge up to 2 percent for QR-based or card payments. GCash also continues to offer micro-merchants access to a wallet with a limit of up to P500,000 monthly. GCash also waives the 1.5 percent transaction fee for up to P100,000 in gross sales. The post GCash keeps fee’s subsidy appeared first on Daily Tribune......»»
Loan process simplified for DepEd teachers
City Savings Bank, the thrift arm subsidiary of the Aboitiz-led Union Bank of the Philippines, continues to make headway with its groundbreaking Loan Ranger Mobile App, which caters to the banking needs of Department of Education teachers. The mobile app provides public school teachers a fast, convenient and secure way to check their savings and loan account balances, as well as apply for a reloan anytime, anywhere. Over 170,000 DepEd teachers and employees have enrolled in Loan Ranger Mobile. True to its tagline “Simple is Good,” CitySavings has simplified the loan process for DepEd teachers. With Loan Ranger Mobile, teacher-clients can view their account balance in real time. If they qualify for a reloan, they can simply apply using the app, without having to visit a CitySavings branch. They can also check the status update of their loan application. Angelica Loretizo of Aurora Elementary School in Quezon Province said using the app now saves her long hours of travel to and from the branch. “The CitySavings Loan Ranger Mobile is very easy to use. I no longer have to worry about spending time commuting. It’s very convenient for teachers like me with just a few clicks to make our transaction. I hope all banks will have this kind of customer service,” Loretizo said. One of the key features of Loan Ranger Mobile is its simplicity and user-friendly interface. The app is designed to ensure a seamless navigation experience, making it accessible to all DepEd teachers, regardless of their level of technological expertise. The intuitive layout and easy-to-understand instructions enable users to easily perform banking transactions, eliminating the need for time-consuming visits to bank branches. It is also easy to register with Loan Ranger Mobile, which is available to download on Google Play Store, Huawei AppGallery and Apple App Store. Teachers can sign up with their existing CitySavings account or card number and validate their registration with a one-time password. They can then add their other savings and loan accounts with CitySavings to check their balances and pay bills. Soon, they can receive and transfer funds, and earn and redeem rewards. Recognized by International Finance Awards as the Most Innovative Savings Bank in the Philippines, CitySavings is committed to delivering exceptional, technology-driven banking experiences to its customers. This innovative solution further cements CitySavings’ vision to be the leading mass market bank in the country and the bank’s contribution to the Aboitiz Group’s Great Transformation growth strategy to become the Philippines’ first techglomerate, propelled by technology and a renewed entrepreneurial mindset. The post Loan process simplified for DepEd teachers appeared first on Daily Tribune......»»
Security Bank wins award at Asian Banking and Finance Retail Awards
Security Bank Corporation bagged the New Consumer Lending Product of the Year award at the Asian Banking and Finance Retail Banking Awards 2023 for its Complete Cashback Platinum Mastercard. The Complete Cashback Platinum Mastercard was lauded for having the best-in-class rewards and rebate program for practical spending. The tiered rebate structure covers the most relevant everyday spend categories of cardholders: 5 percent rebate on groceries, 4 percent rebate on gas, 3 percent rebate on utilities, 2 percent rebate on dining, and 1 percent rebate on shopping. Moreover, the card offers supplemental benefits like airport lounge access (i.e., Marhaba Lounge at NAIA Terminals 1 and 3), e-commerce purchase protection, and exclusive shopping and dining offers. The card was also recognized for its overall proposition and convenience in terms of experience. Now in its 18th year, the Asian Banking and Finance Retail Banking Awards honored retail banks and financial institutions in the Asia Pacific region for their innovative products, services, and solutions that made a positive impact on customers. The recognition is yet again a testament to the commitment Security Bank shows through its compelling product offerings. Over the years, the Bank has further strengthened the market appreciation of its retail banking business despite the changing market conditions by staying true to its core—providing what customers want and need and investing in what matters to them. “We’re thrilled to receive the ‘New Consumer Lending Product of the Year’ award for our Complete Cashback Platinum Mastercard,” said Maricar Filart, SAVP and Product Management & Communications Head at Security Bank. “This recognition reflects our commitment to providing innovative financial solutions that truly enhance our customers’ lives. We are dedicated to continuously improving our products and setting new standards for excellence in the industry.” In its pursuit to become the most customer-centric bank in the Philippines, Security Bank also recently received praise for its outstanding achievements from other award-giving bodies such as Alpha Southeast Asia and Asiamoney for being the Best Retail Bank in the Philippines and Best Bank for High-Net-Worth clients, respectively. The post Security Bank wins award at Asian Banking and Finance Retail Awards appeared first on Daily Tribune......»»
GoTyme logs 1-M depositors
The Gokongwei Group’s banking arm GoTyme Bank logged 1 million customers, a few months before its first-year anniversary on 20 October 2023. In a statement, Nate Clarke, GoTyme Bank president and CEO said the success of GoTyme was due to the digital platform’s consistent focus on human banking — the first in the Philippines with a “phygital” model that seamlessly blends the convenience of digital technology and human-led touchpoints in its operations. He said GoTyme also owes its success to the public confidence inspired by the tie-up between trusted local and international brands — the Gokongwei Group and the Tyme Group — that has allowed it to realize strong deposit growth and considerable traction of its ‘phygital’ banking that offers superior products and services built around its customers’ needs and wishes. Financial inclusion tool GoTyme redefined “preferred banking” as it democratizes access to the bank’s premium offerings regardless of the customers’ amounts in their accounts — a 5-percent interest rate per annum for all savings accounts, and no minimum maintaining balance, or regular deposits of specified amounts as required by other financial institutions. It also delivers on its promise to keep banking simple, secure and sustainable. “From the simplest account-opening procedure — GoTyme maintains kiosks in Gokongwei retail ecosystem, where, assisted by bank ambassadors, customers can open accounts for as modest as P50 using just one valid and accepted identification, upon which they will automatically get their GoTyme Bank Visa debit card — to the most exciting rewards system offered by what is arguably the best debit card today that allows customers and shoppers to earn points anywhere and everywhere, it’s no surprise that GoTyme’s market penetration is simply “getting better and better,” according to Clarke. Clarke said artificial intelligence technology in banking had improved customer experience — using chatbots from account inquiries to money transfers, loan applications, financial advice, account management, and many more, according to a Forbes 2023 article. Based on a Economist Intelligence Unit survey, 77 percent of bankers believe that the ability to unlock the value of AI will spell the difference between the success or failure of banks. The post GoTyme logs 1-M depositors appeared first on Daily Tribune......»»
Retention of cap on credit card rate gets banks’ backing
The decision of the Bangko Sentral ng Pilipinas to maintain the rate cap on credit card transactions will benefit both the borrowers and the industry amid the aggressive rate hikes delivered by the central bank, according to banks and credit card issuers......»»
‘Total frenzy’: Swift fever grows in Latin America
Excitement is building among Taylor Swift fans in Latin America who have endured months-long queues, expensive tickets and, in one case, assault to realize their dream of seeing the pop superstar. The 33-year-old singer-songwriter, who holds the women's record for most number one albums, will bring her "Eras" tour to the region from Thursday starting in Mexico, followed by Argentina and Brazil. In Rio de Janeiro, Renan Rodrigues camped out for several nights to buy tickets for Swift's November 17-19 concerts at the Nilton Santos stadium. The 24-year-old DJ, who performs at parties for Swifties, as the pop star's devoted fans are known, got tickets to all three performances. But he paid a high price -- an assailant hit him on the head with a bottle for resisting an attempted robbery while he was waiting. "They wanted to take my cellphone, and inside the case was my card from the only bank authorized for ticket sales. I just thought: they won't take my card," said Rodrigues, who suffered superficial injuries. Tickets for Taylor Swift shows in Brazil cost between $35 and $468. In Mexico, where young people earn an average salary of $366 a month according to official data, fans had to pay between $55 and $614. Ingrid Cruz, founder of the official Mexican fan club, described the high cost as "abuse" and complained that VIP packages were prioritized over regular tickets. Fans also reported problems with the platform of US retail giant Ticketmaster. The vendor operates in Mexico as part of the powerful CIE entertainment and media group, which in turn controls around two-thirds of the local market for live shows. Pre-sales for the four concerts in Mexico City were based on a previous registration of "verified fans" by email. But even Joel Aguilar, creator of Taylor Swift MX, a fan site with some 20,000 followers from 20 countries, failed to qualify, he said. Denisse Castro, 26, who has been unemployed for six months, hoped that building a credit history and obtaining a card from the bank sponsoring the concert would help her to secure good seats. Unfortunately for her, the bank recently tightened its credit restrictions, so Castro could only afford the cheapest tickets. In the Argentine capital Buenos Aires, a group set up camp outside the River stadium in June, five months before the concert, to ensure they have places near the stage. "It's going to be a total frenzy," said Iara Palavencino, one of the fans, who take it in turns to reserve their spots. Tickets sold out quickly in Argentina, despite the country's serious economic crisis. In Chile, President Gabriel Boric, a self-proclaimed Swiftie, made an unsuccessful appeal to Swift to include his country on her tour. And in Mexico, proving that the pop star's popularity transcends age, a 64-year-old Supreme Court judge outed himself as a Swiftie earlier this year. "There's nothing trivial about Taylor Swift," Arturo Zaldivar wrote in a newspaper in June. The post ‘Total frenzy’: Swift fever grows in Latin America appeared first on Daily Tribune......»»
Flexible installment plans for Apple devices via SM Malls Online and Polka.PH
Before Investing in a brand-new Apple device, make sure to check SM Deals for the best tech deals available at SM Supermalls. SM Malls Online now offers flexible and easy installment options for Apple’s most sought-after products via a partnership with Polka.PH. No credit card required, 0 percent interest Choosing from two- to six-month competitive installment plans with absolutely 0 percent interest on selected items, you won’t need to fully pay for your Apple product immediately since payments are broken down into monthly or staggered payouts. This allows you to enjoy your premium Apple devices and their features while paying for them over time. There’s no pressure to pay the total cost of an item upfront, giving you more elbow room to settle your bills and personal expenses first. How to shop? In order to enjoy these installment plans, make sure you have the SM Malls Online app up and running on your smartphone with a registered account. Go to the Polka.PH brand page and check out your desired product by choosing the CASH payment option. Within 24 hours, an e-mail with a checkout link from Polka.PH will be sent to you, where you may upload your required documents and submit your installment plan application. The requirements include any one valid government ID, and your company ID or certificate of employment or equivalent of your proof of work. You’re also required to present your latest one-month pay slip or any proof of income covering the last three months like a bank statement or PayPal transaction history. Once approved, you can now opt to have your order picked up at Polka.PH’s physical store in SM City North EDSA or have it conveniently delivered to your doorstep. Note: Your chosen installment plan will commence shortly after your order has been fulfilled. Choosing the credit card payment option at checkout will make your purchase invalid. Pick your Apple Some cutting-edge Apple products available for your choosing include the MacBook Pro, MacBook Air, Apple Watch, AirPods, iPad Pro and mini, and the iPhone series (from 11 up to the 14 Pro models). The MacBook Air and MacBook Pro carry Apple’s own silicon chips, M1 and M2, with the latter being available in either 14 and 16 inches. Arguably, the iPhone 11 is the most accessible in the lineup today in terms of price tag, so that can be a feasible option if you’re looking into getting into Apple ownership. If your budget allows, shop the latest iPhone 14 Pro flagship series to enjoy new features such as the Always-On Display and Dynamic Island. Smartphones from top tech brands like Samsung, Tecno, Xiaomi, Oppo, realme, Vivo and Infinix are also available. All products are brand new and come with complete warranty and an official receipt. If you’re keen on experiencing Apple’s premium technology or looking into upgrading your existing device with installment plans that won’t break bank, shop via the SM Malls Online app and Polka.PH today. Check SM Deals for the best deals and offers available at SM Supermalls. The post Flexible installment plans for Apple devices via SM Malls Online and Polka.PH appeared first on Daily Tribune......»»
RCBC’s card use drives P6-B H1 profit
Universal lender Rizal Commercial Banking Corp., or RCBC, recorded a net income of P6.2 billion in the first half, mostly due to increased credit card transactions. Gross income jumped by 10 percent to P23.5 billion in the first half from the same period last year, with income from credit card transactions surging by 48 percent, the bank reported to the Philippine Stock Exchange said. Bill collections grew 54 percent which RCBC attributed to “personalized and data-driven campaigns.” Loans increased by 14 percent as the bank said consumer and corporate lending “sustained their momentum toward an 18 percent growth.” Meanwhile, total deposits increased by 22 percent, reflecting the 17 percent growth in low-cost current and savings accounts. RCBC attributed the higher savings to its growing number of depositors in “retail and small and medium enterprises outside Metro Manila.” Basic banking via app Through its improved mobile app RCBC Pulz, the bank said clients can avail of its basic banking services and investing products in a more convenient process. “RCBC continues to perform better than the industry as we focus on high-growth segments and equip our people with digital and data science tools,” RCBC president Eugene Acevedo said. Total assets expanded by 17 percent to P1.2 trillion, resulting in a better-annualized return on assets ratio of 1.11 percent. Meanwhile, annualized return on equity improved to 11.1 percent. RCBC said it expects capital ratios to improve by over 300 basis points through the completion of the P27-billion capital infusion from Japan’s Sumitomo Mitsui Banking Corp. The post RCBC’s card use drives P6-B H1 profit appeared first on Daily Tribune......»»
Aboitiz Group furthers ‘Great Transformation’ into 2023
The Aboitiz Group has seen exceptional performance in the first half of 2023, showcasing its "Great Transformation" into the Philippines’ first techglomerate. Leveraging innovation as well as synergies across its diverse business portfolio, the group has solidified its position as a trailblazer of industry. With a strong foundation in place, the Aboitiz Group eagerly sets its sights on forthcoming projects that promise further success and innovation. AboitizPower. The Aboitiz Group’s holdings in power generation and distribution, AboitizPower, continues to support the country’s energy transition and socioeconomic development with its diverse portfolio of thermal and renewable energy power plants, as well as internationally certified asset management capabilities from its distribution utilities. With close to 1,000 megawatts (MW) of ongoing and disclosed energy projects, it is en route to accomplishing its 10-year growth strategy of having at least 9,200 MW in its generation portfolio equally split between RE and thermal sources of energy by the next decade. This journey includes the development of the 17 MW Tiwi Binary Geothermal Power Plant, the 94 MW Cayanga-Bugallon solar facility, and the 167 MW Laoag solar facility. AboitizPower is also looking to begin the construction of its Calatrava Solar project and Olongapo Solar project within the year. These RE investments are complemented by other developments in Battery Energy Storage Systems, like the SN Aboitiz Power 24 MW Magat Battery in Isabela, which — much like the commercially operational 49 MW Maco Battery in Davao de Oro — will help provide regulating and contingency reserve power to the country’s grids. Subsidiaries. Meanwhile, subsidiaries Davao Light and Power Company, Visayan Electric Company, Cotabato Light and Power Company and Subic EnerZone Corporation were the first power DUs in the Philippines to be certified with an ISO 55001:2014 certification for Asset Management, an international standard that attests to the efficiency of how they manage the lifecycle of their assets, i.e., power lines, transformers and substations. This validates the reliability of their services and strengthens the uninterrupted provision of electricity in their respective service areas. Efficient asset management is essential for DUs to successfully manage their infrastructure and optimize maintenance and costs, thereby ensuring regulatory compliance and a reliable bridge between transmission lines and businesses, communities and homes. UnionBank. Union Bank of the Philippines continues on its trajectory of becoming a Great Retail Bank as it has consistently been recognized as one of Asia’s leading companies. Among the many recognitions for the 1st half of 2023 that UnionBank has reaped are: Best Retail Bank in Southeast Asia (Cfi.co), 4-time Best Retail Bank in the PH (The Asian Banker) and 6-time Digital Bank of the Year PH (The Asset). In line with its nation-building “Tech-UP Pilipinas” advocacy, UnionBank’s strategic partnerships have been focused on digitization as an essential element for client success. UnionBank’s determination to be an enabler of the Philippines’ bid to be a G20 country by 2050 is apparent as it continues to nurture and grow its diverse client portfolio that includes corporate, MSME, high net worth as well as local and national government entities. As a recognized trailblazer that embraces technological innovations that empower its customers, UnionBank together with its digital banking arm UnionDigital Bank (UnionDigital), fintech arm UBX and thrift arm City Savings Bank (CitySavings) showcased its expertise in artificial intelligence at the first AI Summit PH 2023 last May. The first half of the year also saw UnionBank’s commitment to offering clients amazing and exclusive experiences through partnerships with Live Nation (for world-tour concerts) and GMG productions (for the Hamilton musical). “The investments we made last year have exceeded our expectations. UnionDigital is already profitable after less than a year in operation. There is strong momentum in the acquired credit cards business from Citi. New-to-bank card customers are at a record level. We are geared up to grow our retail banking business. Our infrastructure is ready for scale. We have sufficient capital coming from the recent stock rights offering to further grow our earning asset capital base,” said UnionBank president and CEO Edwin R. Bautista. Aboitiz InfraCapital. Aboitiz InfraCapital remains on track with its purpose of enabling businesses and uplifting communities. AIC Economic Estates maintains its position as the leader in industrial-anchored mixed-use development nationwide, with the largest footprint of developed industrial estates as well as the single largest privately owned industrial estate in Lipa-Malvar, Batangas– LIMA Estate. 2023 marked LIMA Estate’s 25th anniversary, as well as the 30th year of West Cebu Estate in Cebu. These estates are undergoing industrial and commercial expansion to accommodate more locators and create approximately 90,000 employment opportunities. Water business. For AIC’s water business units, Apo Agua can now produce safe and reliable water for the Davao City Water District’s water reservoirs. Apo Agua’s laboratory has also obtained accreditation for drinking water analysis from the Department of Health. AIC's LIMA Water, on the other hand, continues to operationally benefit from its SMART Water Network, leading to reduced fuel consumption and high facility uptime. Digital infrastructure. In the digital infrastructure landscape, Unity Digital Infrastructure completed the first closing of a total of 250 sites from its acquisition of over 1,000 telecom towers from Smart-PLDT and Globe Telecom. Additionally, Unity marked a major milestone by successfully co-locating three Mobile Network Operator tenants (Globe, Smart and DITO) in one of its towers in Cebu. The three-tenant tower is the first in the Philippines and showcases the effectiveness of the shared tower model in support of the government's drive to improve digital connectivity through the common tower initiative. Mactan-Cebu International Airport. Mactan-Cebu International Airport surpassed expectations with significant growth in passenger traffic, peaking at around 5 million passengers in the first half of this year, more than double the previous year. The resumption of major international routes, such as Shanghai and Taipei, and improved aircraft availability are expected to further boost traffic in the second half of the year. MCIA's excellence in promoting the airport and in ensuring customer experience was also recognized, as it received the Routes Asia 2023 Marketing Award in the 5 million category and became the first airport in the Philippines to be accredited by the Airports Council International for its Airport Customer Experience. The post Aboitiz Group furthers ‘Great Transformation’ into 2023 appeared first on Daily Tribune......»»
Ejercito’s son fell victim to SMS scammers
The son of Senator Joseph Victor “JV” Ejercito became one of the latest victims of scammers who prey on their innocent victims through mobile text messaging or SMS. In a virtual interview, Ejercito narrated how his son, Emilio, was scammed by an unidentified phone caller despite the imposition of the mandatory SIM card registration law last month. “It happened, I think, around last month only. We already reported it to the NBI (National Bureau of Investigation) Cybercrime Division,” he told reporters on Friday. “What is worrisome here is it looks like an inside job,” he added. He noted that his son received several calls asking for his information after he received a credit card from his bank. “What puzzles us is that they knew his information; hence, I said it is an inside job. They know his background and everything about him,” he said. “So maybe, the kid, being naïve, thought it was legitimate because they knew his information his address, birthday, parents, and school. He gave the OTP,” he added. The OTP or one-time password is one of the most common authentication methods utilized by banks which they send to their clients through text messages. “To cut a long story short, the savings which I’ve been giving him for several years were cleaned up,” Ejercito said. “This kid is very frugal, he doesn’t spend a lot. Every time I gave him money during Christmas or birthdays, he really saved it up,” he added. The lawmaker said that the amount scammers took from his son ranged from P100,000 to P120,000. “That is why I am really saddened by this because he really saved it through the years,” he said. Due to the incident, Ejercito said he would support the inclusion of P300 million worth of confidential and intelligence funds in the 2024 proposed budget for the Department of Information and Communications Technology. “That is why if the DICT would really use it for anti-fraud or cyber [security] then I would support it,” he said. In a statement, Budget Assistant Secretary Mary Anne de la Vega said the additional P300 million in DICT’s CIF will cover the agency’s cyber security programs. The post Ejercito’s son fell victim to SMS scammers appeared first on Daily Tribune......»»