BSP books higher net income in first semester
THE BANGKO SENTRAL ng Pilipinas (BSP) saw its bottom line surge during the first semester, boosted by sizeable gains from currency trading at a time of a weaker peso.
BPI Direct BanKo sees loans growing sixfold this year
BPI DIRECT BanKo, Inc., the microfinance arm of listed Bank of the Philippine Islands (BPI), expects its loans to grow sixfold this year supported by its aggressive branch expansion.
Digital payment firms fight for Hong Kong market
HONG KONG — Hong Kong’s shopping districts are well known for their fierce competition. Now, a new battleground is forming as digital payments firms fight for retailers and shoppers.
Peso rebounds against US dollar as Qatar’s pledge supports lira
THE PESO strengthened slightly against the dollar on Thursday as Qatar’s investment pledge supported the Turkish lira.
TDF yields rise to all-time highs
YIELDS on term deposits soared to all-time highs this week as banks scrambled to park their idle funds under the Bangko Sentral ng Pilipinas (BSP), taking advantage of higher accepted margins following a strong rate hike last week.
Insurance industry posts premium growth in first half
THE INSURANCE INDUSTRY booked a double-digit increase in the first half as all sectors posted robust growth, the Insurance Commission (IC) said on Wednesday.
Allianz PNB Life Insurance to craft more products for millennials
ALLIANZ PNB Life Insurance, Inc. is gearing up to attract more young Filipinos to get protected as it launched an insurance product designed for millennials.
Indonesia fights Turkey contagion with surprise hike
INDONESIA’S central bank surprised most economists by raising its benchmark interest rate a fourth time since May, moving swiftly to contain the volatility sweeping across emerging markets and curb a slide in its currency.
Peso weakens further as market remains cautious
THE PESO declined further against the dollar on Wednesday to hit a three-week low as investors continued to flock to safe-haven currencies due to concerns over the Turkish economy.
Gov’t makes full award of 5-year Treasury bonds
THE GOVERNMENT fully awarded P15 billion worth of reissued five-year Treasury bonds (T-bond) on Tuesday, accepting higher yields as the market priced in rate hikes by the Bangko Sentral ng Pilipinas (BSP).
HSBC to roll out more digital services for firms
THE HONG KONG and Shanghai Banking Corp. (HSBC) is looking to roll out more mobile services to corporate clients in the Philippines over the coming year, following a jump in its credit card business secured through digital platforms.
EastWest Bank profit drops
EAST WEST Banking Corp. (EastWest Bank) saw its net income inch down in the first half of the year following the suspension of the public school teachers’ salary loan program.