Treasury bills on offer partially awarded
THE GOVERNMENT partially awarded the Treasury bills (T-bill) it offered on Monday to temper the rise in rates as yields bid by banks climbed across all tenors amid slower-than-expected inflation.
Rediscount borrowings climb to P1.266 billion
BANKS SECURED bigger loans under the central bank’s peso rediscount window in May to fund more commercial lending and asset purchases at a time of higher borrowing costs.
Swiss reject ‘dangerous experiment’ to radically change how banks lend money
SWITZERLAND dismissed a proposal to radically change the way banks lend money, a victory for the financial establishment including central bank chief Thomas Jordan.
Peso drops to near P53:$1 level
THE PESO plunged to a fresh low against the dollar on Monday, closing near P53 due to a wider trade deficit and lower foreign exchange reserves amid geopolitical tensions overseas.
Treasury bills rates expected to move sideways
YIELDS ON Treasury bills (T-bills) on offer today are seen to move sideways, after the government’s offering of retail bonds attracted strong demand last week.
Big banks’ NPLs inch up in April as lending surges
SOURED DEBTS held by big banks stayed relatively modest in April even as lending surged by almost a fifth, latest central bank data showed.
Peso to move sideways vs dollar
THE PESO will likely move sideways against the dollar today amid geopolitical tensions overseas and ahead of the policy meeting of the US central bank.
DBP reports lower net income in first quarter
Development Bank of the Philippines (DBP) reported lower income in the first quarter, as it increased provisioning for credit losses.
Yields on gov’t debt flat
YIELDS on government securities (GS) traded in the secondary market were flat last week over inflation results, the retail Treasury bond (RTB) offering, and developments abroad.
RCBC prices P15-billion stock rights offering
RIZAL COMMERCIAL Banking Corp. (RCBC) has set the final terms for its stock rights offer (SRO), through which it looks to raise P15 billion to strengthen its capital ratio and fund its business expansion.
Veterans Bank relaunches Mindanao branches as it targets new market
DAVAO CITY — Philippine Veterans Bank (PVB) has started relaunching its branches in key Mindanao cities as it aims to expand its market base, beginning with soldiers, military retirees and local government employees.
Peso slumps to fresh low
THE PESO slumped against the dollar on Friday on the back of a wider local trade deficit.