China Bank 2020 net profit up 19.8% led by net interest income
China Banking Corp. said it booked a 19.8% increase in net profit in 2020, with the low-interest environment driving solid growth in net interest...
DBP backs legislation amending bank charter
The Development Bank of the Philippines (DBP) said it supports the passage of a measure that will improve its ability to finance countryside development...
BPI merger with savings unit effective by 2022
The Bank of the Philippine Islands (BPI) said it expects to complete its all-share merger with thrift unit BPI Family Savings Bank by 2022.
BPI...
Peso strengthens on imminent arrival of vaccines
The peso closed stronger on Friday, receiving a boost from the government’s announcement of the first vaccines due to arrive in the country this...
Quick lending upturn unlikely
THE FINANCIAL Institutions Strategic Transfer (FIST) Law will not be enough for a “turnaround” in credit growth even as it aims to help banks offload non-performing assets (NPAs), ANZ Research said in a note.
Banks urged to hold off on hiking ATM fees, use excess capital to expand...
BANKS SHOULD USE their excess capital to expand their services instead of increasing fees for cash machine services, a lawmakers said, after the Bangko Sentral ng Pilipinas tweaked its rules on fees this month.
Caring capitalism vs loneliness
By Benel D. Lagua
We live in a predominantly lonely world and as observed by Bartleby in The Economist, the lockdown due to the COVID-19 has exacerbated this problem that has been spreading for decades in developed nations. As a developing country, the Philippines may not have reached that alarming level but if we don’t watch out, we may succumb to the same malaise.
Peso may weaken on vaccine issues, positive US data
THE PESO may depreciate versus the dollar on Friday on increased preference for the greenback as the market expects better US economic data and with the schedule of the arrival of vaccines here still unclear.
Term deposit yields up on oil price gains
YIELDS ON the Bangko Sentral ng Pilipinas’ (BSP) term deposits continued to pick up following the recent climb in global oil prices.
New central bank sector to support efforts toward cash-lite economy
THE BANGKO SENTRAL ng Pilipinas (BSP) has set up a Payments and Currency Management Sector (PCMS) headed by financial inclusion expert Mamerto E. Tangonan as deputy governor as it aims to make the country a cash-lite society by 2023.
BDO net profit down 36% in 2020 on higher loss provisions
BDO UNIBANK, INC. (BDO) saw its net earnings plunge by 36.2% to P28.2 billion last year from P44.2 billion in 2019 due to increased loss provisioning on expectations that soured loans would spike amid the coronavirus pandemic.
IP E-Game seeks digital banking license
LISTED IP E-Game Ventures, Inc. announced on Wednesday that it is applying for a digital banking license with the Bangko Sentral ng Pilipinas (BSP).