Peso seen sideways on US data
THE PESO may move sideways against the dollar in the first two days of the week following better-than-expected economic growth data in the United States and the upgrade of a Japanese debt watcher of the country’s rating outlook.
Four non-life insurers in merger talks for capital
THE PHILIPPINE Insurers and Reinsurers Association (PIRA) said two pairs of non-life insurance firms are expected to merge to meet the increased capital requirement that takes effect by yearend.
Banks keep credit standards steady in Q1
MOST BANKS kept their lending criteria little changed in the first quarter, according to the results of a central bank survey.
Peso weakens on strong US economic data
THE PESO weakened on Friday due to appetite for the greenback following the release of a strong durable goods report in the United States.
BPI books higher Q1 net income
BANK OF THE Philippine Islands recorded higher net earnings in the first quarter of the year, propelled by robust net interest income growth.
The need to own cars
By Benel D. Lagua
WHENEVER I do my spiel about the product offerings of the Development Bank of the Philippines (DBP), I highlight our aversion to providing car loans. In jest, I say we do not want to add to the traffic problem, especially in urban cities. Clearly, car financing is a staple of the private banking sector and it does not make development and economic sense for DBP to put its hat in the circle, even if the numbers will indicate it is probably one of the more lucrative banking/finance segments.
Peso rebounds ahead of US economic growth report
THE PESO recovered against the dollar on Thursday amid profit taking ahead of the release of first-quarter US economic growth data.
Gov’t rejects all bids for T-bonds as rates climb
THE GOVERNMENT rejected all bids the reissued 20-year Treasury bonds (T-bond) it placed on the auction block Wednesday, as investors sought rates higher than yields at the secondary market.
Yields on term deposits decline further
YIELDS ON term deposits fell further this week as investors returned to the market after the holiday break.
Insurance firms preparing for new accounting rules
THE INSURANCE Commission (IC) is optimistic that insurance firms will be able to prepare ahead of the 2023 implementation of new accounting rules, as multinational insurers are expected to comply ahead of time.
Peso weakens ahead of US GDP
THE PESO weakened further on Wednesday as the dollar strengthened across Asian currencies ahead of the first-quarter US economic data release.
BPI Family Savings not keen on merging with parent lender BPI
THE THRIFT BANKING arm of Bank of the Philippine Islands (BPI) is reluctant on merging with its parent bank as it looks to continue taking advantage of the regulator’s smaller reserve requirement for thrift lenders.