Thrift banks’ non-performing loans up at end-May
PROBLEM DEBTS held by thrift banks grew in May to log faster than the pickup in retail lending, latest central bank data showed.
Bank of America profit beats on consumer loan growth, lower expenses
BANK OF AMERICA Corp. reported quarterly profit above analyst expectations on Monday as the second-largest US lender cut expenses and benefited from growth in loans and deposits on the back of a strengthening economy.
Peso up ahead of Powell speech
THE PESO bounced back on Tuesday as the dollar weakened across major currencies ahead of the testimony of US Federal Reserve Chairman Jerome Powell and following the stronger remittance data released Monday.
Treasury opts for partial award of T-bills
THE GOVERNMENT made a partial award of the Treasury bills (T-bill) it auctioned off on Monday, with rates on the longer tenors rising amid persistent concerns over domestic inflation.
Robinsons Bank raises P1.78B from LTNCDs
ROBINSONS BANK Corp. raised P1.78 billion from the first tranche of its P5-billion long-term negotiable certificates of deposit (LTNCD) program, which it wants to use to support its loan growth.
‘More aggressive’ hike likely from BSP
THE CENTRAL BANK may respond with a more aggressive rate hike in the coming months to rein in rapid inflation, economists at the First Metro Investment Corp. (FMIC) said, against a backdrop of a “turbulent” but rapidly growing Philippine economy.
How a $139-billion fund is trading the trade war
IN A BID to beat the trade war, a $139- billion Australian investment manager is using 30-year Treasuries as its weapon of choice.
Peso drops to fresh 12-year low as Trump calls EU a trading ‘foe’
THE PESO weakened against the dollar to hit a fresh 12-year low due to continuous corporate demand for the dollar as well as the negative statement of US President Donald J. Trump against the European Union (EU).
Rates of T-bills, T-bonds to rise
GOVERNMENT SECURITIES on offer this week will likely fetch higher rates, with demand expected to continue focusing on the shorter tenor amid lingering concerns over domestic inflation.
China Bank to open 8-10 more branches
CHINA BANKING Corp. (China Bank) is set to open more branches this year amid its digital push and an ongoing rationalization of offices.
BSP net income surges to P17.55B at end-April
THE CENTRAL BANK saw its net profit surge nearly sixfold in April as it collected bigger interest incomes and trimmed operating costs.
Yields on gov’t debt climb
YIELDS on government securities (GS) traded in the secondary market went up slightly last week over Philippine and US inflation results and “lingering” trade tensions between the United States and China.