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Banks expect higher consumer, corporate loan demand in Q1
Despite the higher for longer interest rate scenario, Philippine banks still expect a stronger loan demand from companies and households in the first quarter of the year, according to the Bangko Sentral ng Pilipinas......»»
More groups to establish Islamic banks in Philippines
More groups are looking at establishing Islamic banks in the Philippines as the first branch of the new banking classification is expected to open soon, 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......»»
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......»»
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......»»
BSP pursues reforms to modernize banks
The Bangko Sentral ng Pilipinas is pursuing policy reforms to modernize Philippine banks and ensure a sustainable, digital and inclusive banking future......»»
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).....»»
‘Higher interest rates are here to stay’
The Bangko Sentral ng Pilipinas is likely to hold on to higher rates for a little longer, moving in lockstep with the US Federal Reserve and the rest of the central banks globally......»»
China Bank Savings profit hits record high in 2023
The thrift banking arm of Sy-led China Banking Corp. booked a record high net income of P1.85 billion in 2023 amid the continued expansion in customer base and loans......»»
ASEAN cross-border remittance service to go live by 2026 – BSP
The Bangko Sentral ng Pilipinas along with other central banks in the region aims to operationalize multilateral cross-border fund transfers by July 2026......»»
Palarong Pambansa 2024 earns support from Mandaue, Cebu business leaders
CEBU CITY, Philippines– The Cebu Chamber of Commerce & Industry (CCCI) and the Mandaue Chamber of Commerce & Industry (MCCI) will give out their full support to the organizers of the upcoming Palarong Pambansa 2024 scheduled in July. In a meeting last March 18 at the board room of the Aboitiz Corporate Center, CCCI President.....»»
Spanish business chamber celebrates 125th anniversary
Top business leaders, government officials and dignitaries came together to celebrate the historic 125th anniversary of the Spanish Chamber of Commerce in the Philippines through La Fiesta, an event commemorating the rich history, culture and trade relations between Spain and the Philippines......»»
Amid House-Senate rift, Romualdez seeks common ground on Cha-cha with Zubiri
After the Senate delivered a scathing rejection of the ongoing People’s Initiative (PI) campaign to amend the Charter, House Speaker Martin Romualdez has reached out to Senate President Juan Miguel Zubiri to express the lower chamber's support for an alternative PI led by the upper chamber......»»
British Chamber promotes increased collaboration, ease of doing business
The British Chamber of Commerce Philippines expressed its aim to further deepen the continuously growing trade relationship between the UK and the Philippines......»»
The 3rd chamber
The country has a Senate and a House of Representatives. And then there’s the third and most powerful chamber of Congress, the bicameral conference......»»
“Doomed to fail,” Marcos says of Duterte’s call for independent Mindanao
DAVAO CITY (MindaNews / 09 February) – President Ferdinand Marcos Jr. on Thursday night said the call of former President Rodrigo Duterte for a separate Mindanao is “doomed to fail” because it is “anchored on a false premise, not to mention a sheer constitutional travesty.” “I strongly appeal to all concerned to stop this call […].....»»
British Chamber reiterates concerns on reported changes on minimum access volume
The British Chamber of Commerce Philippines remains concerned of the reported delay of quota distribution to meat importers......»»
Malaysian Chamber eyes Davao’s logistics hub potential
THE Malaysia Chamber of Commerce and Industries Philippines, Inc. (MCCI) foresees strong business confidence for investing in Davao City, positioning it as a potential world-class logistics hub competing with leading regions in Southeast Asia such as Singapore, Macau, and Kuala Lumpur in Malaysia......»»
Philippines aims to produce nearly 130,000 semiconductor talents by 2028
MANILA, March 11 (Xinhua) -- The Philippines is poised to produce a "robust talent pool" of 128,000 semiconductor professionals, including engineers and technicians, by 2028, the country's President Ferdinand Romualdez Marcos said Monday. The Philippines is "ready to meet the expanding needs of high-technology industries," Marcos said in his address during the courtesy call of the U.S. government and Presidentia.....»»
Philippines aims to produce nearly 130,000 semiconductor talents by 2028
MANILA, March 11 (Xinhua) -- The Philippines is poised to produce a "robust talent pool" of 128,000 semiconductor professionals, including engineers and technicians, by 2028, the country's President Ferdinand Romualdez Marcos said Monday. The Philippines is "ready to meet the expanding needs of high-technology industries," Marcos said in his address during the courtesy call of the U.S. government and Presidentia.....»»