Peso weakens on GDP
THE PESO declined further against the dollar on Thursday due to slower-than-expected economic growth data and amid the market’s anticipation of the central bank’s policy decision.
Demand for term deposits rises
BANKS’ APPETITE for term deposits increased this week to push yields lower as the central bank placed a higher volume on the auction block ahead of its monetary policy review.
RCBC books higher net income in 1st quarter on core business growth
RIZAL COMMERCIAL Banking Corp. (RCBC) posted higher net income in the first quarter on the back of sustained core business growth.
PNB raises P13.87 billion from bonds
PHILIPPINE NATIONAL Bank (PNB) has issued P13.87 billion worth of peso-denominated bonds, with the raised funds be used to support its lending business.
Fed’s Clarida rejects rate-cut pressure
FEDERAL RESERVE Vice-Chairman Richard Clarida pushed back against speculation in financial markets the central bank will cut interest rates to boost softening inflation up to its 2% target.
BSP, AMLC strengthen partnership
THE BANGKO SENTRAL ng Pilipinas (BSP) renewed its partnership with the Anti-Money Laundering Council (AMLC) to ensure the Philippines will not be used as a money laundering site and is secure from terrorism financing.
Peso plunges vs dollar
THE PESO plunged against the dollar on Wednesday due to lower-than-expected Philippine trade balance data as well as market caution ahead of key data to be released today.
Reserves climb further in April
GROSS international reserves (GIR) in the country climbed further in April for the fifth straight month on higher inflows from the central bank’s foreign exchange operations, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.
Metrobank net profit up
METROPOLITAN BANK & Trust Co. (Metrobank) saw higher net income in the first quarter driven by consistent lending and margin expansion as well as higher fee-based income.
Peso rises against dollar as inflation slows in April
THE PESO strengthened against the dollar on Tuesday following upbeat inflation data.
Gov’t makes full award of T-bills as rates decline on inflation bets
THE GOVERNMENT made a full award of the Treasury bills it offered yesterday, with rates declining across all tenors as investors expect inflation to continue its downward trajectory, fuelling bets of monetary policy easing.
Insurance firms’ premium income climbs in 2018
THE INSURANCE INDUSTRY posted higher premium income in 2018 driven by robust growth across all sectors, the Insurance Commission (IC) reported.