Insurance industry books higher premiums, assets in Q1
THE INSURANCE INDUSTRY’S combined premiums, assets and net worth rose in the first quarter, data from the Insurance Commission (IC) showed.
Data based on submissions...
Security Bank starts bond offer
SECURITY BANK Corp. on Monday started an offer of 1.5-year peso bonds and is looking to raise at least P8 billion in fresh funds...
UnionBank to infuse P900 million in capital into digital lender
UNION BANK of the Philippines, Inc. (UnionBank) will infuse P900 million in fresh capital into its online lender UnionDigital Bank, it said on Monday.
The...
Monetary Board bans six money service businesses
THE MONETARY BOARD has disqualified six firms from securing a license with the Bangko Sentral ng Pilipinas (BSP) after they were found operating unregistered...
Peso up on weaker US data
THE PESO appreciated against the dollar on Monday following weaker US data last week.
The local currency closed at P55.70 versus the dollar on Monday,...
Rates of T-bills, bonds may climb on hawkish Fed
RATES OF TREASURY bills and bonds on offer this week could rise after hawkish remarks from US Federal Reserve Chair Jerome H. Powell.
The Bureau...
Credit growth seen to slow
LENDING GROWTH will likely slow to single-digit levels this year after the double-digit expansion seen in 2022 due to the central bank’s tightening, the...
Yields on government debt rise following Powell’s testimony
YIELDS ON GOVERNMENT securities (GS) climbed across the board last week as the market remained cautious after the hawkish remarks from the US Federal Reserve chief.
Peso may strengthen as market looks for drivers
THE PESO may strengthen against the dollar this week as the market waits for new leads.
The local currency closed at P55.77 versus the dollar...
CIMB targets 500,000 virtual card users
CIMB BANK Philippines, Inc. (CIMB Bank PH) is aiming to have half-a-million sign-ups for its virtual debit card products by yearend.
If realized, this would...
Powell: Half point of additional hikes a ‘good guess’ of policy outcome
WASHINGTON — Further US Federal Reserve rate increases are “a pretty good guess” of where the central bank is heading if the economy continues...
British banks set to ramp up data sharing in ‘dirty money’ crackdown
LONDON — British banks are gearing up to share more data with their peers on suspected serious economic crime as part of wider efforts...