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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......»»
Philippines, German central banks partner on capacity-building
The central banks of the Philippines and Germany have formalized their partnership on capacity-building through the signing of a memorandum of understanding......»»
RCBC the best PH bank by network uptime, and UBP ranks at the bottom
Brankas, a Singapore-based fintech software and services provider, published its first annual ASEAN Bank Stability Report to measure the network uptime performance of ASEAN-region banks, and RCBC finished in the top spot among banks in the Philippines with an uptime of 98.3% (31 hours total downtime) including a stretch of seven months with zero downtime events......»»
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......»»
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......»»
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......»»
Government raises P330 million from asset disposals in 2023
The Philippine Deposit Insurance Corp. raised some P330 million from disposing assets of padlocked banks last year......»»
Manila Water borrows $110 million for refinancing
The holding company of Razon-led Manila Water Co. Inc. for its international ventures secured a $110 million three-year loan from two Singapore-based banks to refinance its existing debt......»»
Investors pour over $700 million into Philippine digital banks
Global and local investors have poured over $700 million (around P40 billion) into the country’s digital banking sector to support the industry’s growth and potential to reshape the online financial landscape......»»
PDIC settles P614 million in deposit insurance claims
State-run Philippine Deposit Insurance Corp. has settled P614 million in deposit insurance covering 15,796 accounts from padlock banks in 2023......»»
P115 million worth of properties up for auction
State-run Philippine Deposit Insurance Corp. is set to dispose P115.1 million worth of various properties of padlocked banks......»»
Ababa leads Fortuna, Singson by one
Sarah Ababa drained a lengthy birdie putt on No. 17 to spike a gutsy 72, pulling ahead by one over Mikha Fortuna and rookie Mafy Singson at the start of the P1 million ICTSI Ladies Apo Golf Classic here yesterday......»»
ICTSI Ladies Apo Golf Classic: Ababa moves past Fortuna, Singson
Sarah Ababa drained a lengthy birdie putt on No. 17 to spike a gutsy 72, pulling ahead by one over Mikha Fortuna and rookie Mafy Singson in an unpredictable start to the P1-million ICTSI Ladies Apo Golf Classic......»»
Near Top 10 finish for Yuka
Fil-Japanese Yuka Saso faded in the final push for the inaugural Ford Championship crown and settled for joint 13th Sunday at the Seville Golf and Country Club in Arizona......»»
Yuka in striking spot in Ford tourney
Fil-Japanese Yuka Saso moved to striking position in the race for the Ford Championship crown after a third-round three-under 69 on a windy Saturday in Gilbert, Arizona......»»
Pagdanganan fades to 41st
As Bianca Pagdanganan faded to 41st, Fil-Am Allisen Corpuz and Fil-Japanese Yuka Saso finished strong and landed eighth and 17th places, respectively, in the HSBC Women’s World Championship yesterday in Singapore......»»
Hot finish nets Green World Championship crown; Saso rallies to 17th
Hannah Green delivered an electrifying performance on the greens, birdieing the last three holes and clinching the Women’s World Championship crown by one over Celine Boutier at Sentosa’s Tanjong course in Singapore Sunday......»»
Boutier takes control as Pagdanganan, Saso waver
Frenchwoman Celine Boutier bounced back strong from a one-over card in the previous round with a solid eight-under 64, propelling her from joint 30th to seize the solo lead halfway through the Women’s World Championship in Singapore Friday......»»
Philippines FDI net inflows grow by 89.9 pct in January
MANILA, April 10 (Xinhua) -- Foreign direct investment (FDI) that flowed into the Philippines grew year-on-year by 89.9 percent in January to 907 million U.S. dollars, the country's central bank said Wednesday. "The increase in FDI was supported mainly by the 173.2 percent expansion in nonresidents' net investments in debt instruments to 820 million dollars from 300 million dollars in January 2023," the Bangko S.....»»
P35 million allotted for Araw ng Dabaw
DAVAO CITY (MindaNews / 27 February)—The City Government of Davao has allocated P35 million for this year’s Araw ng Dabaw, P8 million more than last year’s celebration, a city councilor said. Councilor Myrna Dalodo-Ortiz, who chairs the finance, ways and means and appropriations committee, said that the city government’s allocation for the annual event includes […].....»»