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Tag: Karl Angelo N. Vidal

BSP: Inflation could slow to below 2% this quarter

INFLATION could settle below the official full-year target this quarter as food and oil prices ease, BSP Governor Benjamin E. Diokno told reporters on Tuesday, citing “base effects” due to multi-year-high rates last year.

UnionBank pilots cross-border blockchain remittance service

UNIONBANK of the Philippines, Inc. piloted its cross-border remittance service for local rural banks through blockchain, as it aims to push financial inclusion in rural areas.

Peso weakens further vs dollar

THE PESO weakened further against the dollar on Tuesday as market players await the policy decision of the European Central Bank (ECB).

Fiscal balance swings to deficit in June, but 1st half gap...

THE NATIONAL GOVERNMENT’s fiscal balance swung to a deficit in June after two straight months of surplus -- even amid relatively flat state spending and a double-digit hike in tax collections -- with the first half nevertheless yielding a much smaller budget gap than a year ago, the Bureau of the Treasury reported on Monday.

Pru Life targets to launch trust arm before yearend

PRU LIFE Insurance Corp. of UK (Pru Life UK) is eyeing to launch its asset management and trust subsidiary before the year ends, with the insurer already ironing out internal processes and requirements.

Bank clients grapple with branch separation anxiety

FOR much of history, banking was done in branch offices, but beginning in the late 20th Century, digitization began to creep in, allowing account holders ever more banking convenience without needing to leave their homes or offices. With tech revolutionizing banking, how will financial institutions keep their networks relevant?

T-bills seen to fetch mixed rates ahead of Fed, BSP policy...

RATES OF THE Treasury bills (T-bill) on offer today will likely end mixed amid expectations of policy rate cuts from the local and US central banks.

Peso likely to weaken

THE PESO is seen to weaken against the dollar this week following geopolitical tensions between the US and Iran as well as guidance from US Federal Reserve Bank of New York.

PayMaya touchpoint network grows above 40,000

PAYMAYA tallied the highest number of touchpoints where clients can add money into their digital wallets in a bid to push financial inclusion.

BoP swings to $404-M deficit in June

THE country’s balance of payments (BoP) registered a deficit in June, as the government made principal and interest payments on its foreign debts, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

Inflation eases in Q2, seen slowing further

THE BANGKO SENTRAL ng Pilipinas (BSP) said inflation settled at the midpoint of its target band in the second quarter, driven by improved domestic food supply conditions.

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.

Peso weakens on dovish Fed comments

THE PESO weakened against the dollar on Friday as the market positioned following dovish pronouncements from a US Federal Reserve official and ahead of the release of US data on consumer confidence.

Hot money flows out in first half

FOREIGN portfolio investments swung to a net outflow last semester as June recorded the fourth straight month that more of such funds left the country, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.

SSS to conduct survey to plug coverage gaps

THE POLICY-MAKING BODY of the Social Security System (SSS) is set to conduct a nationwide survey to plug coverage gaps and improve social protection.

PCHC records higher electronic fund transfers following launch of PESONet

PHILIPPINE Clearing House Corp. (PCHC) saw a jump in electronic fund transfers (EFT) in 2018 following the launch of the Philippine EFT System and Operations Network (PESONet).

Tax Academy completes design of coursework for BIR, BoC

THE Department of Finance (DoF) said it has developed courses for current and future employees of the Bureau of Customs (BoC) and Bureau of Internal Revenue (BIR) under the Philippine Tax Academy (PTA).

Peso rebounds vs dollar

THE PESO recovered against the dollar on Thursday as the market consolidated due to a lack of fresh leads.

Digital lending firm AsiaKredit sees 50% loan growth this year

DIGITAL consumer lending firm AsiaKredit expects 50% growth in its disbursed loans this year as it banks on responsible lending practices.

Cashalo hits client goal

MOBILE LENDING platform Cashalo breached its target to hit a million clients in the first half of the year as the firm moves into the credit business.

Virtual banking to gain ground in emerging markets

VIRTUAL BANKING in emerging markets (EM) is seen to pick up as large unbanked populations and greater adoption of technologies present opportunities for the success of digital banks, S&P Global Ratings said.

Peso plunges on strong US data

THE PESO plunged against the dollar on Wednesday, dragged by reduced expectations of a rate cut by the US Federal Reserve due to upbeat June US retail sales data.

Gov’t makes full award of 7-year bonds

THE GOVERNMENT fully awarded the reissued seven-year Treasury bonds (T-bond) on offer yesterday amid robust demand as market participants priced in possible monetary policy easing by local and US central banks.

IC sets rules for PLHIV applications

THE INSURANCE Commission (IC) has issued guidelines on the underwriting of applicants with actual, perceived or suspected human immunodeficiency (HIV) status.

PNB completes P12-B stock rights offering

PHILIPPINE National Bank (PNB) completed its P12-billion stock rights offer (SRO) on Monday, with the raised funds allotted to grow its assets.

Peso strengthens to P50:$1 level ahead of key US economic data

THE PESO continued to strengthen against the dollar on Tuesday to hit a new high on the back of profit taking ahead of the release of some US economic data.

Non-life insurers to lobby vs minimum capital hike

THE NON-LIFE industry will lobby to prevent the increase of insurance firms’ minimum capital requirement to P1.3 billion by the end of 2022, the Philippine Insurers and Reinsurers Association (PIRA) said.

Bulk of BPI SRO proceeds used for loans

BANK OF THE Philippine Islands (BPI) has deployed P49.5 billion in funds it raised last year via stock rights offer (SRO), allotting the bulk to loans.

Peso climbs to new high as markets eye rate cuts

THE PESO strengthened against the dollar to hit a fresh high on the back of continued bets of monetary policy easing by the US Federal Reserve.

Reissued seven-year T-bonds to fetch lower rates

THE GOVERNMENT will likely see lower yields for its reissued seven-year bonds to be auctioned off tomorrow, as market participants price in possible interest rate cuts from the local and US central banks.

China Bank looking to offer peso green bonds

CHINA BANKING Corp. (China Bank) is looking to offer peso-denominated green bonds to support demand for environmental and sustainability projects.

Peso seen to strengthen on bets of policy easing

THE PESO will likely strengthen against the dollar this week on bets of monetary policy easing by the US central bank.

PSBank raises P6.3 billion from offer of 2-year bonds

PHILIPPINE SAVINGS Bank (PSBank) raised P6.3 billion in fresh funds via two-year fixed-rate bonds as it saw robust demand from investors.

Insurance Commission chief tapped to chair Asian Re

INSURANCE COMMISSIONER Dennis B. Funa was elected as chairman of Asian Reinsurance Corp. (Asian Re), the Insurance Commission (IC) said.

Peso up on Powell speech

THE PESO recovered sharply against the dollar on Thursday on the back of dovish remarks from US Federal Reserve chair Jerome Powell.

Unisys sees open banking gaining ground in PHL

UNISYS CORP. expects open banking in the Philippines to accelerate as banks start to unlock their potential and amid the receptive behavior of Filipino clients towards new technology.

IC issues cease and desist order vs Caritas Health

THE INSURANCE Commission (IC) issued a cease and desist order against health maintenance organization (HMO) Caritas Health Shield, Inc. due to alleged fraudulent card swiping and misrepresentation of sales agents.

China Bank sees loan growth easing slightly

CHINA BANKING Corp. (China Bank) expects its loan growth to ease slightly this year due to base effects following inflation’s surge in 2018.

Acevedo is new RCBC president, CEO

VETERAN BANKER Eugene S. Acevedo took the helm of Rizal Commercial Banking Corp. (RCBC) this month following the retirement of the lender’s former chief.

Peso weakens vs dollar as eyes turn to Powell

THE PESO SLID against the dollar on Wednesday following dovish remarks from Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.

Robinsons Bank to start bond offer by end-July

ROBINSONS BANK Corp. will start its maiden peso bond offer later this month through which it is looking to raise up to P5 billion to support lending growth.

Peso inches up as market awaits Powell’s US Congress testimony

THE PESO gained a tad against the dollar on Tuesday as it moved sideways ahead of the testimony of Federal Reserve chair Jerome Powell before the US Congress.

Gov’t fully awards Treasury bills as demand soars after RRR cuts

THE GOVERNMENT made a full award of the Treasury bills (T-bill) on offer yesterday, with rates dropping across all tenors on overwhelming demand brought by the second phase of reductions to banks’ reserve requirement ratios (RRR) as well as limited supply of short-dated securities.

China Bank raises P30B via fixed-rate peso bonds

CHINA BANKING Corp. (China Bank) raised P30 billion via its maiden fixed-rate bond offering to boost funding flexibility.

Peso weakens vs dollar due to positive US data

THE PESO dropped against the dollar on Monday, dragged by better-than-expected jobs data in the United States.