RCBC to absorb thrift unit into commercial bank
THE Rizal Commercial Banking Corp. (RCBC) will absorb the operations of its thrift bank subsidiary to reduce operating costs and consolidate capital, providing the lender with a bigger retail base.
NPL growth rises 8% in July after banks’ loan book expands over 18%
BAD debt held by big banks grew further in July but remained subdued relative to the over 18% pace of loan growth, the central bank said.
Treasury makes partial award of 7-year bonds, yield 7.085%
THE government made a partial award of the reissued seven-year Treasury bonds (T-bond) at the auction yesterday amid high rates following the central bank’s latest policy tightening.
UCPB launches PESONet fund transfer service
UNITED COCONUT PLANTERS BANK (UCPB) has launched the Philippine Electronic Fund Transfer System and Operations Network (PESONet) service on its mobile application, allowing clients to transfer funds electronically.
Peso hits new lows ahead of rate action
THE PESO weakened to a fresh 12-year low ahead of possible rate hikes by the central bank and the Federal Reserve as well as elevated trade tensions between the United States and China.
Gov’t rejects all bids for T-bills
THE GOVERNMENT rejected all bids for the Treasury bills (T-bill) it offered on Wednesday as rates came in higher than expected as the market awaits the policy meetings of the local and US central banks.
Insurance brokers post growth in mediated premium
PREMIUM INCOME generated by brokerage activities grew in 2017 driven by mediated profit in the non-life segment, the Insurance Commission (IC) said.
Peso declines to new 12-year low
THE PESO weakened against the dollar to log a fresh 12-year low on Monday due to continued trade tensions overseas and ahead of expected tightening moves from the local and US central banks.
Gov’t debt to fetch higher rates
GOVERNMENT SECURITIES on offer this week will likely fetch higher rates anew, with bids on the seven-year Treasury bonds (T-bond) seen to be rejected, as investors price in the possible policy tightening from the local and US central banks.
Yields rise ahead of hikes
YIELDS on government securities (GS) traded on the secondary market climbed last week as traders factor in the widely expected hike in policy rates on Thursday.
Loan disbursements under PLP reach P49.78M
THE SOCIAL Security System (SSS) released nearly P50 million during the pilot launch of the Pension Loan Program (PLP), which is now available in 70 branches nationwide.
Peso to drop ahead of Fed, BSP
THE PESO will likely weaken anew this week due to escalated geopolitical tensions overseas and in anticipation of the possible policy tightening of the local and US central banks.