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BANKS’ profitability is likely to plunge due to the adverse impact of the coronavirus disease 2019 (COVID-19), which could also cause an increase in nonperforming loans (NPL), according to Global Data.
HEALTH MAINTENANCE organizations (HMOs) can now submit their audited financial statements until June 30 from the original May 31 deadline as a relief for companies affected by the coronavirus disease 2019 (COVID-19) pandemic, the Insurance Commission (IC) said.
THE CENTRAL BANK is giving additional regulatory to financial institutions, including the imposition of a higher single borrower’s limit (SBL), removing penalties for reserve deficiencies, and providing leeway for some notification requirements amid disruptions caused by the coronavirus disease 2019 (COVID-19).
MOST LENDERS maintained their overall credit standards for both enterprises and households in the fourth quarter, a Bangko Sentral ng Pilipinas (BSP) survey found.
BANKING SYSTEMS in emerging economies will face three key risks in 2020, including uncertainties from geopolitical and domestic policies, deterioration in asset-quality indicators, and risks coming from volatile investor sentiments, according to S&P Global Ratings.
STATE-RUN Credit Information Corp. (CIC) said installment transactions dominated Filipinos’ credit reports as more than 36 million of the 56 million contract data it gathered had this mode of payment.
MONEY SUPPLY expanded at a faster pace in October as the policy easing moves by the Bangko Sentral ng Pilipinas (BSP) were finally felt in the financial market.
When his father died, the 13-year-old John L. Gokongwei, Jr. was left with the massive responsibility of supporting his family. Starting from selling candles,...
Continuing its commitment to promote greater financial inclusion, especially among the unbanked and underserved communities, the Land Bank of the Philippines (LANDBANK) kicked off...
BANK of the Philippine Islands (BPI) will issue its first two-year, 100-million Swiss franc-denominated, negative-yielding green bond, proceeds of which will be used to fund environmental projects through its Green Finance Framework.
ALLIANZ PNB Life Insurance, Inc. expects the life insurance industry to post slower growth in 2019 dragged by liquidity issues in the first half of the year.
THE CENTRAL BANK will soon allow banks and other financial firms looking to offer basic digital financial services to start operations without securing prior approval from the regulator, amid an industry push towards e-payments.
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METROPOLITAN Bank & Trust Co. (Metrobank) has raised P10 billion in fresh funds via fixed-rate bonds — the first ever bond issuance by a local lender since the regulator liberalized rules on banks’ fundraising activities.
BANKS and other financial firms will soon be required to report cyber attacks and similar technology-related glitches within two hours, following the approval of new rules by the central bank.