DBP targets to grow loan book to P419B, assets to over P800B
DEVELOPMENT BANK of the Philippines (DBP) is looking to grow its loan portfolio to P419 billion and breach the P800-billion mark for its asset base this year as the bank aims to reach P1 trillion in assets by 2022.
‘Sharia fintech’: Start-ups race to tap Indonesia by aligning with Islam rules
JAKARTA — Like millions of other Indonesians, Gandi Iswara had for years carried a wad of currency notes for dropping into donation boxes after prayers at mosques in suburban Jakarta.
Pandemic brings Asia’s booming online lending sector to a halt
HONG KONG/MUMBAI/SINGAPORE — The spring started out rosy for the Indian arm of ClearScore, a company that offers online credit scores and loans.
AUB income steady at end-Sept. on increased loan loss provisions
ASIA UNITED BANK Corp. (AUB) booked a steady net income in the first nine months of the year as it increased its loan loss reserves amid the coronavirus pandemic.
T-bill rates seen moving sideways
RATES OF the Treasury bills (T-bills) on offer this week may inch down or remain unchanged on the back of high liquidity among investors and the central bank’s latest rate cut.
T-bill, bond rates likely to drop
YIELDS on government securities on offer this week will likely inch down further as the investors continue to park their funds in these safe-haven assets.
SSS contributions likely rose close to 13% at end-June
THE SOCIAL Security System (SSS) said its contribution collections likely grew by double digits in the first semester.
Treasury bills on offer likely to fetch higher rates
TREASURY BILLS (T-bill) on offer today will likely fetch slightly higher rates amid strong demand on the short end, as some investors expect the inflation to stabilize by next year.
CTA cancels P59.84-M tax assessment vs RCBC Savings Bank
THE Court of Tax Appeals (CTA) ruled against the Bureau of Internal Revenue (BIR) and cancelled the alleged P59.844-million income tax deficiency of RCBC Savings Bank, Inc. (RSB) for the taxable year 2006 due to a void waiver supposedly extending the period to assess the bank.
Deutsche Bank in talks with Commerzbank as turnaround fails
DEUTSCHE BANK AG, Europe’s once-dominant financial institution, threw in the towel on years of failed turnaround efforts and agreed to begin government-backed merger talks with Commerzbank AG.
Peso ends flat on positioning ahead of break
THE PESO was steady against the dollar on Wednesday amid volatile trading and positioning by market players ahead of the Holy Week break.
Australia cracking down on high-stakes derivatives trade
SYDNEY — Australia’s market watchdog on Wednesday said it plans to ban the sale of “binary” options to retail customers and introduce restrictions on sales of other derivative instruments seen as high-risk transactions.