Citi’s exit from retail banking presents opportunities for local banks

The decision of American banking giant Citigroup Inc. to exit the Philippine retail banking segment presents an opportunity to other major players in the industry......»»

Category: financeSource: philstar philstarApr 19th, 2021

Citi exits retail banking in Philippines, 12 other markets

New York-based Citigroup Inc. plans to exit retail banking in the Philippines and 12 other markets in Asia as well as Europe, Middle East and Africa as it opted to focus its global consumer bank presence in Singapore, Hong Kong, United Arab Emirates and London......»»

Category: financeSource:  philstarRelated NewsApr 16th, 2021

Citigroup set to exit PH, 12 retail markets in major shift

New York---Citigroup announced on Thursday it will exit 13 international consumer banking markets as it joined other large banks in reporting blowout earnings amid a strengthening US economy......»»

Category: sportsSource:  abscbnRelated NewsApr 16th, 2021

BPI eyes Citi’s retail business

Ayala-led Bank of the Philippine Islands has expressed interest in the retail banking business of Citigroup Inc., a move that would double its consumer banking business......»»

Category: financeSource:  philstarRelated NewsApr 22nd, 2021

Citigroup to end consumer banking business in Philippines

Citigroup announced on Thursday it will exit 13 international consumer banking markets, including the Philippines, as it joined other large banks in reporting blowout earnings amid a strengthening US economy......»»

Category: financeSource:  philstarRelated NewsApr 16th, 2021

Sy-controlled banks post mixed financial results in turbulent 2020

The Sy family's two listed banks capped a turbulent 2020 that tested the local banking industry's resilience amid a pandemic-induced recession with mixed financial results......»»

Category: financeSource:  philstarRelated NewsFeb 26th, 2021

Mentoring our agripreneurs

The new normal presents new challenges and opportunities for our local farmers and agri-stakeholders, resulting in a paradigm shift that calls for a change in perspective......»»

Category: financeSource:  philstarRelated NewsOct 8th, 2020

Banks’ bad loans highest in 6 years

The gross non-performing loan ratio of the local banking industry picked up for the seventh straight month in July, hitting its highest level in almost six years as overdue loans continued to soar amid the economic fallout from the coronavirus pandemic......»»

Category: financeSource:  philstarRelated NewsSep 11th, 2020

Diokno: Banks risk collapse over 1-year debt moratorium

A proposal in Congress to oblige banks to grant a 365-day moratorium to all borrowers during the COVID-19 pandemic under the Bayanihan 2 bill may pose serious risks to the soundness and health of the local banking industry, according to the Bangko Sentral ng Pilipinas......»»

Category: financeSource:  philstarRelated NewsAug 13th, 2020

Experts weigh in on cyberbullying in the time of pandemic

With schools forced to implement alternative education modalities such as online learning due to the COVID-19 pandemic, incidences of cyberbullying are expected to soar even higher in the coming months.  To help parents as well as education practitioners learn how both online and offline communities can protect children and youth from cyberbullying, a panel of local and international experts shared suggestions on how to prevent this phenomenon. Experts from the Philippines and South Korea exchanged views on cyberbullying and how this can be prevented especially with the rising cases among youth in a webinar on cyberbullying organized by Ramon Magsaysay Award Foundation recently. During the webinar, 2019 Ramon Magsaysay Awardee and Blue Tree Foundation (BTF) founder Kim Jong-ki shared how he and his foundation has been battling school violence in the past 20 years. The BTF was very instrumental in curbing incidences of violence against students in schools. BTF Preventive Education Center Head Park Ju-han shared that in South Korea, school violence has declined for 15 years but has risen again since 2015. “The main factors are the low aging and the increase of cyberbullying,” he said. Meanwhile, BTF Research and Counseling Team Leader Lee Sun-young discussed how the foundation has been working with schools on the prevention of violence among students and shared some best practices that can be adopted by other countries like the Philippines. “We need to teach children when to respond when cyberbullying is happening,” she said.  “Digital literacy is the first key on how to be nice in the world,” she added.  In the Philippines, UP Manila-Philippine General Hospital Child Protection Unit (CPU) head Dr. Bernadette Madrid noted that “bullying has been increasing.” Based on the results of the national baseline survey on violence against children in 2016, she shared that “bullying in the Philippines was quite high” with 65 percent of the youth – ages 13 to 17 years old – have experienced some form of bullying. Same goes for the prevalence of cyberbullying wherein 44% of the students reported cyber violence. “It is a real problem here in our country, it is harmful but it can be prevented,” Madrid said. Given this, she noted that in terms of prevention, a single program is not enough to address cyberbullying. “We need multiple programs to be more successful,” she added. Meanwhile, Don Bosco Technical College Cebu president and dean Fr. Fidel Orendain noted that protecting students from violence and abuse especially with the shift to e-learning is a challenge for many schools. “This topic is a hot issue for us right now,” he admitted. Since schools are familiar with face-to-face familiarity, he noted that online learning is “challenging our identity and the way we educate.” To resolve this, he urged schools to increase their presence by way of talks and conferences. “We can also make ourselves available for counseling,” he added. For Stairway Foundation, Inc. Senior Advocacy Officer Ysrael Diloy, protecting children at this time is more crucial than ever. In the past 18 years, he has been working with key government agencies in the Philippines, via national level councils and working groups, advocating for child protection policy, and programmatic changes. “We are at an age wherein the current generation of children has known technology as the norm,” he said. Diloy has initiated the CyberSafe program which is currently the flagship child online protection program of the Department of Education (DepEd). “Now more than ever, we need to ensure that we are all contributing to make the Internet a safe space for and with children, so that they can reap all the benefits and opportunities that technology presents – this is the very essence the CyberSafe program hopes to achieve,” he ended......»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

Cleanfuel Strengthens Retail Network in Southern Manila

Now serving with the newest technologies implemented to create high-tech fuel for your vehicles, Cleanfuel, believes in the resiliency of the Filipino people that would bring and sustain solid economic recovery amid health crisis. Their recently opened retail station at Doña Soledad in Parañaque City shows a testament that the company remains upbeat in expanding their network footprints in Southern portion of Metro Manila.   “While 2020 is a challenging year, Cleanfuel has remained optimistic riding in the resiliency of Filipinos towards economic recovery. This is the reason why Cleanfuel Group of Companies continues to invest and opened more stations as a testament and commitment to its people to provide top-notch fuel to every motorist,” said Atty Bong Suntay, President of Cleanfuel. “The opening of the new station in Doña Soledad is in line with Cleanfuel’s goal to expand its reach and strengthen its customer base in the Southern part of Metro Manila,” Suntay said. Situated at the busy thoroughfare of Doña Soledad Avenue Extension at Barangay Don Bosco in Parañaque City, the new station offers a top-notch fuel and lubricants including Clean91 (Unleaded), Premium 95 gasoline, and Euro-4 diesel. It provides access to both public and private motorists from Better Living going to Moonwalk, connecting in the bustling intersection of eastern Parañaque.  In addition, the second district of Don Bosco is the primary residential Barangay of Ninoy Aquino International Airport and one of the 16 Barangays in Parañaque City. Key factors of the city’s progress include banks, shopping malls, restaurants, residential properties, and commercial manufacturing. Motorists heading towards the busy streets of Doña Soledad Avenue Extension from east-west and northern side of Parañaque can gas up to experience Cleanfuel’s brand mantra: Quality fuel for Less! Further, Cleanfuel Doña Soledad station will become a key driver of growth to more than 60,000 population of Barangay Don Bosco. As the city relies on shopping centers as part of major contributors, the company sees that the opening of Cleanfuel Doña Soledad will further strengthen and boost economic confidence. “We’re grateful and honor to inaugurate Cleanfuel Doña Soledad as our first station to open in these unprecedented times. The economy in the City of Parañaque has been growing consistently with massive projects in property and commercial manufacturing,” the company’s chief executive said.  Suntay adds that in the next coming months Cleanfuel is adding more stations not only in NCR but also in provinces to provide quality fuel for business and opportunities for others. “We intend to leverage our business aggressively and expand our retail network across the country, focusing on Mega Manila and Northern Luzon,” concludes Suntay.  Cleanfuel is expected to open more stations in coming weeks in Ortigas Avenue Extension in Pasig and mega branch in Mabalacat Pampanga as part of the long-term business expansion plan. Aside from expansion, the company has extended its support by providing fuel subsidy for the Department of Transportation’s (DOTr’s) Free Bus Ride for Health Workers Program and drive relief donations to northern provinces, which include Pangasinan (Villasis, Binalonan, Pozorrubio) and San Fernando (La Union) and other cities in Metro Manila......»»

Category: newsSource: NewsAug 1st, 2020

BAP assures stability of local banking system

The Bankers Association of the Philippines, the umbrella organization of universal and commercial banks in the country, on Monday, expressed its confidence in the capacity of banks to manage their credit portfolio amid the onslaught of the COVID-19 pandemic and concerns over the non-renewal of ABS-CBN Corp.’s franchise......»»

Category: financeSource:  thestandardRelated NewsJul 15th, 2020

BSP, banks nix bill on debt holiday

The Bangko Sentral ng Pilipinas and the local banking industry are strongly opposing the mandated debt holiday of up to two years as the country’s banking sector is not spared from the impact of the global health crisis......»»

Category: financeSource:  philstarRelated NewsJun 11th, 2020

EastWest launches Komo, the Philippines& rsquo; first homegrown all-digital bank

East West Banking Corporation (EastWest) announces its newest venture in the digital race with Komo---a fully digital bank. This makes EastWest the first local universal banking group in the Philippines to launch its own fully digital bank, as it adopts its Retail Banking strategy to the times......»»

Category: techSource:  thestandardRelated NewsMay 20th, 2020

Digital banking grows sharply during lockdown

Foreign and local banks have recorded a sharp increase in digital transactions as more Filipinos embrace technology amid the extended enhanced community quarantine in Luzon to slowdown the spread of the coronavirus disease 2019......»»

Category: financeSource:  philstarRelated NewsApr 16th, 2020

Banking transactions eased as new law takes effect

Local banks vowed to comply with the implementing rules and regulations of a new law aimed at easing the burden of Filipinos amid the coronavirus disease 2019 pandemic......»»

Category: financeSource:  philstarRelated NewsApr 3rd, 2020

Online mortgage broker Nook champions financial inclusion for home loan applications

Online mortgage broker Nook is driving for a more inclusive banking and loaning system in the Philippines as it strengthens its partnership with local banks and provides Filipinos with more home loan options across its online platform......»»

Category: techSource:  thestandardRelated NewsApr 2nd, 2020

Rising property prices expose banks to risks — Fitch

The sustained surge in property prices over the past three quarters, driven by a boom in the Philippine offshore gaming operator industry, presents rising risks to the country’s banking system, according to US-based credit rating agency Fitch Ratings......»»

Category: financeSource:  philstarRelated NewsJan 9th, 2020

Property price surge presents risks to banks

Global debt watcher Fitch Ratings said Wednesday a sustained surge in Philippine property prices over the past three quarters, driven by a boom in online gaming operations, presents rising risks to the country’s banking system......»»

Category: financeSource:  thestandardRelated NewsJan 8th, 2020

BSP probes 10 local banks& rsquo; transactions with WestPac

The Bangko Sentral ng Pilipinas said Tuesday it launched an investigation on money transfer deals made by 10 local banks, including Bank of the Philippine Islands, with Westpac Banking Corp., the second-biggest bank in Australia which was embroiled in a money-laundering scandal with alleged links to child exploitation......»»

Category: financeSource:  thestandardRelated NewsDec 17th, 2019

BDO is the Philippines’ Strongest Bank for 2nd Straight Year

BDO Unibank, Inc. keeps its #1 position in the local banking industry after The Asian Banker named it 2019’s Strongest Bank by Balance Sheet in the Philippines for the second straight year. The Asian Banker Strongest Banks by Balance Sheet is “the most comprehensive annual evaluation that captures the quality and sustainability of the balance […].....»»

Category: newsSource:  metrocebuRelated NewsDec 10th, 2019