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.
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.
The jury is still out on the net impact of the coronavirus disease 2019 (COVID-19) pandemic on bancassurance firms following a rough year of extended quarantines and economic recession.
REGARDLESS of the nature of the disaster, the poor are usually the ones most affected as any negative impact on their assets and consumption levels threaten their subsistence.
DOMESTIC FINANCIAL MARKETS rebounded for the most part in the third quarter as the gradual easing of quarantine restrictions, waves of positive news on the development of potential coronavirus disease 2019 (COVID-19) vaccine trials, and slight pickup in the global economic activity lifted investor sentiment at home.
THE UNCERTAINTY caused by the coronavirus disease 2019 (COVID-19) pandemic has pushed some big firms and investors into the defense by cutting back on capital-raising activities and retreating towards safe-haven investments. Despite the pandemic, raising funds through capital markets is still possible, analysts said.
THE CORONAVIRUS disease 2019 (COVID-19) pandemic remained the primary driver of local financial markets in the second quarter of 2020 as market players continue to adjust expectations and digest a slew of economic reports published during the period.
THE OPINION on whether bank stocks are attractive to buy and hold remain mixed among analysts as uncertainties surrounding the economic recovery from a pandemic-induced slump remain. However, those drawing up their shopping lists on stocks may want to look at listed banks based on analysts’ recommendations.
IN THE BUSINESS lexicon, “high-tech, low-touch” refers to the process that involves high levels of automation accompanied by low-level or no personal interaction.
THE SPREAD of the coronavirus disease 2019 (COVID-19) in the first quarter has put a damper on the performance of financial markets for the rest of the year.