BSP closes Quezon City bank
THE BANGKO SENTRAL ng Pilipinas (BSP) has shut down a bank based in Quezon City, bringing the number of closed lenders to 12 this year.
Peso snaps winning streak on Fed hike bets
THE PESO ended its five-day uptrend on Friday to log its weakest showing in three days, just as bets of another rate hike in the United States next month became more certain.
China Bank posts lower income at end-Sept. as revenues drop
CHINA BANKING Corp. (China Bank) saw its net income slip as of end-September, bogged down by lower non-interest revenues despite higher loans booked during the period.
Sun Life still country’s top life insurer in 2017
SUN Life of Canada (Philippines) Inc. was the top life insurer in 2017 based on premium income with P32.11 billion, the Insurance Commission (IC) said on Thursday.
PNB net profit surges on loans, one-off gain
PHILIPPINE National Bank (PNB) saw its net income surge as of September, driven by one-off gains from asset sales as well as a bigger loan book.
Peso strengthens to five-month high
THE PESO maintained its strength yesterday to log a five-month high, supported by big fund inflows even as Philippine economic growth clocked in slower than expected.
Yields on BSP’s term deposits climb further despite demand
YIELDS ON term deposits rose further this week as market players put forward higher bids to match the bigger offerings of the central bank.
Debt market activity to remain strong next year on steady need for funds
THE LOCAL debt market will likely see equally brisk activity in 2019 to match this year’s level amid a steady need for funding for both government and corporate players, bond traders said.
BDO Leasing books lower net income at end-Sept.
BDO Leasing books lower net income at end-Sept.
BPI Direct BanKo serves over 10,000 SEMEs, on track with 200 branches
DAVAO CITY — Bank of the Philippine Islands (BPI) is on track with opening 200 branches of its microfinance unit BPI Direct BanKo Inc. (BanKo) by the end of the year, with 180 already in place as of end-October.
Peso back at P52:$1 level
THE PESO returned to the P52-per-dollar level on Wednesday, its best in three months, as the market digested the results US mid-term elections and positioned ahead of third-quarter economic growth data to be released today.
Gov’t makes full award of bonds amid rise in rates
THE GOVERNMENT raised P15 billion worth of 10-year Treasury bonds (T-bonds) yesterday as planned amid strong demand, with the surge in yields within expectations.