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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......»»
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......»»
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......»»
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......»»
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).....»»
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......»»
‘Philippine banks to ride wave of robust economic growth’
The projected robust economic growth this year could shape up into a better year for Philippine banks, S&P Global Ratings said......»»
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......»»
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......»»
Grandmas slay underwear fashion runway
At a recent benefit fashion show and concert in Recto, Manila, Avon launched its new 360 Comfort Bra and sent a powerful message of how women can shape the world through an inclusive fashion show that included models of different ages and sizes......»»
Light at the end of the runway
During the peak of the Holy Week exodus, the Ninoy Aquino International Airport once again grabbed public attention for all the wrong reasons......»»
Pagadian airport to be closed for rehab
Pagadian airport in Zamboanga del Sur will be closed for one month to pave the way for repair of the runway......»»
Secession
Rodrigo Duterte, the former president, has been trying very hard the past few days to overshoot the runway. He seems to be succeeding......»»
BCDA, MIAA still negotiating for NAIA Terminal 3 property
State-run Bases Conversion and Development Authority said it is still negotiating with the Manila International Airport Authority on whether the latter will lease or buy the property where the current NAIA Terminal 3 facilities and runway are located......»»
‘Celebration of life, love, hope’: Suzie, Paolo Abrera underscore family togetherness
Filipino celebrity couple Suzie Entrata-Abrera and Paolo Abrera have been tapped as narrators for the first ever Philippine concert of the world-renowned The Tabernacle Choir in Mall of Asia Arena from February 27 to 28, where internationally-acclaimed Filipino singers Lea Salonga and Ysabelle Cuevas are guest artists......»»
210 protesters detained during May Day demonstrations in Turkey
Turkish police detained 210 people Wednesday during May Day demonstrations in Istanbul, said Interior Minister Ali Yerlikaya.Activists took to the streets on May 1 to call for better working conditions and labor rights. Pro-Palestinian sentiments also were on display.Yerlikaya said protesters refused to listen to warnings and that they attempted to walk to Istanbul's central Taksim Square and "attack" pol.....»»
When the Ball Doesn’t Bounce Our Way
How do you cope with trials and disappointments? When competing at a high level as an athlete there is great pressure on you to win. Too often we allow our identity to be founded on our performance and we can be tempted to think when we walk closely with God we will always perform at […].....»»
Readout of Secretary of the Air Force Frank Kendall s travel to the Philippines
Secretary of the Air Force Frank Kendall and Chief of Staff Armed Forces Philippines Gen. Romeo Brawner, walk together during a reception ceremony in Manila on April 5, 2024. Kendall was joined by Air Force Chief of Staff Gen. David Allvin and Chief Master Sgt. of the Air Force David Flosi to meet with Philippine military and security partners during a trip to the Indo-pacific region. (U.S. Department of State photo by.....»»