Home Tags Banking

Tag: banking

Banks enumerate the benefits of cloud computing

By Patricia B. Mirasol “Every serious company is now fast becoming a tech company,” said Dirk-Peter van Leeuwen, senior vice-president and general manager for Red...

Unbanked Filipinos to decline by 2025

THE COUNTRY’S unbanked is expected to be reduced to 20% of the population in five years’ time from the more than half that have yet to open accounts with financial institutions, according to a study.

Banks’ profits, NPLs face hit from COVID-19 outbreak

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.

IC extends deadline for HMOs’ financial statements to June 30

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.

BSP outlines additional relief measures for banks

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).

BPI closes bond offer

BANK OF THE Philippine Islands (BPI) on Friday closed its bond offer period, days ahead of the March 17 schedule amid strong demand, with the proceeds meant to diversify the bank’s funding sources and finance its business operations.

EastWest Bank net income up 38% in 2019

EAST WEST Banking Corp. (EastWest Bank) saw its net income climb in 2019, boosted by both consumer loans and deposits.

Banks shun BSP’s rediscount window

BANKS did not tap the rediscount window of the Bangko Sentral ng Pilipinas for the whole month of January.

Pag-IBIG Fund books higher profit

THE HOME Development Mutual Fund (Pag-IBIG Fund) booked a higher income in 2019 on the back of loan payment collections.

BPI raises P15.3 billion from bond offer

BANK OF THE Philippine Islands (BPI) raised P15.3 billion in peso-denominated bonds following strong demand, marking its second largest issuance to date in the local debt market.

Banks’ lending standards mostly unchanged in the fourth quarter

MOST LENDERS maintained their overall credit standards for both enterprises and households in the fourth quarter, a Bangko Sentral ng Pilipinas (BSP) survey found.

PHL banking sector seen to weather risks this year on economy’s...

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.

Rediscount loans rise in 2019

LENDERS did not tap the central bank’s rediscount facility for the second consecutive month in December, with an analyst saying banks likely have enough liquidity due to the reserve requirement reductions implemented in 2019.

Banks’ FCDU loans rise in Q3

FOREIGN CURRENCY loans disbursed by local banks inched up in the third quarter backed by borrowing firms’ higher working capital requirements paired with lower interest rates.

Installment transactions make up more than half of CIC credit data

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 growth picks up in October on RRR cuts

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.

PVB books higher Q3 earnings

PHILIPPINE Veterans Bank (PVB) saw “strong” net earnings in the third quarter at P505.6 million, driven by higher loan growth.

Metrobank net income climbs 49% in Q3

METROPOLITAN Bank & Trust Co.’s (Metrobank) consolidated net income jumped by 49% in the third quarter on the back of higher operating revenues, it said in a stock filing Friday.

BPI raises P3 billion from LTNCDs

BANK OF THE Philippine Islands (BPI) has raised over P3 billion from long-term negotiable certificates of time deposit (LTNCTD), which it listed on the Philippine Dealing and Exchange Corp. (PDEx) on Friday.

Banks maintain credit standards in third quarter

MOST BANKS kept their overall lending standards untouched for both enterprises and households, a central bank survey found.

How the Gokongweis are paving the way towards a sustainable future

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,...

PNB raises P4.6 billion via LTNCDs

PHILIPPINE National Bank (PNB) has raised P4.6 billion in long-term negotiable certificates of deposit (LTNCD), marking the second tranche of its P20-billion program approved by the central bank.

Banks need to digitize, tap fintech firms

THE BANKING INDUSTRY needs to go digital for survival and may seek the specialty offered by financial technology (fintech) firms for more efficient service delivery, according to bank and fintech executives on Thursday.

CIC’s credit reports now available for P10 each

FINANCIAL INSTITUTIONS can now avail credit reports from the Credit Information Corporation (CIC) for an introductory fee of P10 until March 2020.

LANDBANK kicks off Financial Inclusion Caravan 2019

Continuing its commitment to promote greater financial inclusion, especially among the unbanked and underserved communities, the Land Bank of the Philippines (LANDBANK) kicked off...

BPI to issue Swiss franc-denominated green bonds

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.

Banks keep lending standards steady in Q2

MOST BANKS kept their lending criteria little changed in the second quarter, results of a central bank survey showed.

A great man from small beginnings

“Great things start from small beginnings.” This is probably one of the best catchphrases to portray the victorious journey of self-made billionaire Lucio C....

Reserves climb for eighth straight month in June

GROSS international reserves climbed for the eighth straight month in June, the central bank reported Friday.

Allianz PNB sees slower growth in life insurance sector

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.

PNB to raise $750M via fixed-rate notes

PHILIPPINE National Bank is set to raise $750 million via 5.25-year fixed-rate senior notes to support lending growth.

PNB to issue $300 million in medium-term notes

PHILIPPINE National Bank (PNB) wants to raise $300 million in fresh funds via its euro medium-term note program, it said on Friday.

BDO raises P7.3 billion from LTNCDs

BDO UNIBANK, Inc. raised P7.3 billion from its latest issuance of long-term debt papers, with the fresh funding meant to support the lender’s expansion plans and rebalance its borrowing profile.

DBP posts higher income in 2018

STATE-RUN Development Bank of the Philippines (DBP) reported a stronger net income in 2018, boosted by increased lending, particularly for infrastructure projects.

BSP to simplify licensing requirements for e-payments firms

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.

BSP seen keeping rates steady

THE CENTRAL BANK has enough room to keep interest rates steady over the next few months, global banks said in separate reports, noting that attention has shifted to market liquidity now that inflation has slowed.

PNB looking to raise P100 billion via bonds

PHILIPPINE National Bank (PNB) plans to raise as much as P100 billion in fresh capital through several bond offerings this year.

PBB hikes capital stock by P10 billion

PHILIPPINE Business Bank (PBB) will infuse P10 billion in additional capital to expand its operations, it announced on Friday, which follows its buyout of a rural lender.

The legacy of a great man

The loss of banking and business magnate Dr. George S.K. Ty is being felt in all the corners of the Philippine business community. Though chiefly...

Metrobank reopens two-year bond offering

METROPOLITAN Bank & Trust Co. (Metrobank) is looking to raise an additional P5 billion through another tranche of fixed-rate bonds, following a fresh offering earlier this month.

UCPB income slips in first nine months

THE United Coconut Planters Bank (UCPB) saw its net income slip as of the third quarter as it reeled from lower trading gains and higher borrowing costs.

From the Front Page: Local economy back on track to lead...

Your weekly recap of BusinessWorld news.

Metrobank raises P10 billion from fixed-rate bonds

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.

BSP closes Quezon City bank

THE BANGKO SENTRAL ng Pilipinas (BSP) has shut down a bank based in Quezon City, bringing the number of closed lenders to 12 this year.

Yields on term deposits go up

YIELDS fetched on term deposits climbed anew this week as the central bank reduced the amounts offered during Wednesday’s auction.