Credit growth to pick up with AI-enabled lending
THE USE of artificial intelligence (AI) in lending processes could accelerate Philippine banks’ credit growth to 15-18%, according to financial technology (fintech) company Intellect...
Bank deposits reach over P21 trillion at end-September
DEPOSITS in Philippine banks went up by 7.55% year on year to P21.059 trillion as of September from P19.581 trillion a year ago, based...
Philippines’ tokenized-asset market to expand further
THE PHILIPPINES could become a “tokenized-first” capital market amid the rising adoption of digital wallets, with assets having the potential to reach $60 billion...
Peso strengthens on Fed easing view
THE PESO appreciated against the dollar on Thursday amid growing expectations of a rate cut by the US Federal Reserve next month.
The local unit...
EU agrees on rules for online fraud protection
BRUSSELS — European Union (EU) member states and the European Parliament have agreed on new rules to force banks and other payment service providers...
EastWest to increase tech spend
EAST WEST Banking Corp. (EastWest Bank) plans to gradually increase its spending on technology next year to expand its online capabilities and improve its...
BDO raises $500M from dollar bonds
BDO UNIBANK, Inc. has raised $500 million from its sale of five-year dollar-denominated bonds that marked its return to the offshore debt market after...
BSP to release monthly consumer, business expectations surveys
THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to release monthly versions of its consumer and business expectations surveys starting next year as part...
PNB starts dual-tenor sustainability bond offering
PHILIPPINE National Bank (PNB) on Wednesday began its offering of dual-tranche bonds to raise at least P3 billion to fund sustainable projects.
The bank started...
GoTyme Bank targets 50% loan growth
GOTYME Bank is aiming to grow its loan book by 50% next year, backed by the continued growth of its customer base.
“What’s been happening...
House committee approves amendments to bank deposit secrecy law
THE HOUSE Banks Committee on Wednesday approved an unnumbered bill that consolidated eight measures seeking to amend the country’s decades-old bank secrecy law without...
Peso gains as weak US data boost Fed cut bets
THE PESO climbed against the dollar on Wednesday as weak US data fueled bets of a US Federal Reserve cut next month.
The local unit...