The power of one: A Q&A with UNObank

Unobank secured a digital banking license from the Bangko Sentral ng Pilipinas (BSP) in June, adding to the roster of lenders offering all-online services.

Get to know one of the country’s credit reporting providers

It was in 2011 when the country’s five large domestic and foreign banks — BDO Unibank, Inc., Bank of the Philippine Islands, Citibank Philippines, Metropolitan Bank & Trust Co. (via its then-credit card subsidiary Metrobank Card Corp.), and Hongkong and Shanghai Banking Corp. (HSBC) — teamed up with Chicago-based credit information management firm TransUnion to set up the country’s first international private credit bureau TransUnion Philippines.

PHL prepares for digital, branchless banks

While online banking is not new in the Philippines, banks without physical branches could sooner or later become the norm in the country as the central bank distinguishes digital-only banks from those with brick-and-mortar presence.

Renewed COVID worries cloud market outlook

THE reimposition of lockdowns amid renewed coronavirus disease 2019 (COVID-19) concerns, coupled with weaker economic recovery prospects drove sentiment in the country’s financial markets for much of the second quarter.

Recovery prospects continue to drive bank stocks

ANALYSTS noted the relatively better performance of banks in the second quarter due to higher earnings but said the attractiveness of bank stocks remain tied to prospects of economic recovery.

Fitch cuts rating outlook on six Philippine banks to ‘negative’

FITCH RATINGS on Monday cut its outlook on rated local lenders to reflect the revision done for the Philippines, which could mean a rating...

FIST Law to cast safety net for banks

MONETARY AUTHORITIES have repeatedly said the banking industry still has sufficient resources and buffers, but amid the rising soured loans, it still pays to have a safety net for banks should they be overburdened with these nonperforming assets (NPAs).

Vaccine rollouts, coronavirus surge, and stricter lockdowns: Financial markets on a spin in first...

FINANCIAL MARKETS in the first quarter of 2021 continued to be driven by developments surrounding the coronavirus disease 2019 (COVID-19) pandemic with the arrival of vaccines lifting investor sentiment in the early part of the quarter before being offset by the renewed strict lockdowns due to a fresh surge in coronavirus cases.

NPLs, economic recovery to guide bank stocks

ANALYSTS remain cautiously optimistic on bank stocks amid uncertainties surrounding the prospects of easing lockdown restrictions and the pace of vaccinations, which would influence demand for loans as well as the willingness of banks to lend.

Securing the digital space amid the new normal

THE RAPID growth in digital transactions has often been cited as the silver lining for economies currently constricted by lockdown restrictions due to the pandemic. Even so, this increase has also exposed businesses and households to an increased threat of cyberattacks.