EastWest Bank net profit climbs at end-September
EAST WEST Banking Corp. (EastWest Bank) booked a higher net income in the first nine months on an improved net interest margin and increased trading gains.
Banks’ earnings down 3.61% at end-Sept.
THE banking system’s overall net profit dropped to P126.782 billion in the first nine months, reflecting the impact of the coronavirus pandemic on lenders’ profitability as they ramped up provisions for credit losses.
OFBank sees surge in new accounts, transactions
OVERSEAS Filipino Bank (OFBank), the country’s first digital-only bank, recorded a surge in new deposit accounts and transactions in its first 100 days.
Peso ends flat vs dollar
THE PESO was flat versus the dollar on Wednesday as the growth of domestic liquidity and bank lending eased in September and amid developments in trials of vaccines for the coronavirus disease 2019 (COVID-19).
RCBC posts lower profit in Q3 on higher reserves
RIZAL COMMERCIAL Banking Corp. (RCBC) booked a lower net income in the third quarter as it increased loan loss provisions and waived fees for clients affected by the coronavirus pandemic.
Rediscount window untapped in October
LENDERS did not tap the central bank’s rediscount facility in October amid sustained liquidity in the financial system.
Peso weakens versus the dollar on virus case tally, Q3 GDP contraction
THE PESO weakened versus the dollar on Tuesday as the daily tally of coronavirus disease 2019 (COVID-19) cases increased again and after the government posted a worse-than-expected economic contraction in the third quarter.
Gov’t upsizes T-bill award as yields drop further
THE GOVERNMENT upsized its award of Treasury bills (T-bills) on Monday as yields declined across the board amid strong liquidity in the market.
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.
Peso climbs versus the dollar ahead of GDP data
THE PESO strengthened versus the dollar on Monday as the market expects the economy to have rebounded in the third quarter from its double-digit contraction in the April to June period.
T-bill rates to move sideways on strong liquidity
TREASURY BILLS (T-bills) on offer this week will likely see their rates move sideways as investors remain awash with cash and amid improved economic prospects here and abroad.
Remittance outlook remains bleak amid pandemic
REMITTANCE PLAYERS in the country remain pessimistic on the growth of transactions due to the continued impact of the coronavirus disease 2019 (COVID-19) on the incomes of overseas Filipino workers (OFWs), a study by the Bangko Sentral ng Pilipinas (BSP) showed.