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ADB approves $408-million assistance package for Marawi rehab

THE Asian Development Bank (ADB) approved on Friday a $408-million financial assistance package for the rehabilitation and rebuilding of Marawi City.

Funding a start-up through a business loan

Many people see debt as a bad thing; there is even a pervasive myth that “no debt is a good debt.” But, here comes...

DBP profits up 4% in first half

Development Bank of the Philippines (DBP) saw its net income rise in the first half of the year supported by robust lending and deposit...

CBS, MCBL to offer public school teachers salary loans that come...

China Bank Savings Corp. (CBS) and Manulife China Bank Life Assurance Corp. (MCBL) are set to provide automatic payroll deduction salary loan that comes...

China’s Xi says ‘no strings attached’ to Africa investments

Beijing -- President Xi Jinping told African counterparts and business leaders Monday that China's investments on the continent have "no political strings attached", even...

SSS launches loan program for pensioners

The Social Security System (SSS) on Monday launched the Pension Loan Program (PLP), allowing 1.3 million retiree pensioners to borrow funds. In an event in...

Chinese bridge pushes Maldives deeper in debt: opposition

Maldives -- The Maldives opposition said Friday that President Abdulla Yameen had pushed the Indian Ocean nation deeper into a Chinese "debt trap" with...

ISOC Holdings avails of P2-billion loan facility from BDO

ISOC Holdings, Inc. has secured a P2-billion loan facility from BDO Unibank, Inc. for its property unit's mixed use project in the Bay Area. In...

Philippines eyes 10 loan agreements with China during Xi Jinping’s visit

THE GOVERNMENT expects to ink about 10 loan agreements for infrastructure projects with China during Chinese President Xi Jinping's visit here in November. "Some have...

LANDBANK books higher net profit in 2nd quarter

LAND BANK of the Philippines (LANDBANK) posted a higher net income in the second quarter of the year propelled by steady growth in its loan portfolio.

ADB approves $300-million loan to fund Philippines’ infrastructure projects

THE ASIAN Development Bank (ADB) has approved a $300-million loan for the Philippines to fund a program that promotes the development of public-private partnership...

Philippine officials off to Beijing for dev’t funding

A HIGH-LEVEL Philippine delegation will visit Beijing this week to ink bilateral deals on China-funded infrastructure projects, the Department of Finance (DoF) said in a statement over the weekend.

UCPB net income flat in first half

United Coconut Planters Bank (UCPB) saw its net income flat in the first half of the year as its operating income growth was tempered...

EastWest posts lower first-half profit

East West Banking Corp. (EastWest Bank) saw its net income decline in the first half of the year following the suspension of the public...

BPI Direct BanKo aims to hit goal of opening 200 branches...

BPI Direct BanKo Inc., the microfinance unit of Bank of the Philippine Islands (BPI), is set to hit its target of having 200 branches...

NEA loans to electric cooperatives reach P1.29 billion in first half

The National Electrification Administration (NEA) on Tuesday, July 24, said loans it extended to electric cooperatives (ECs) in the first half reached P1.29 billion,...

Robinsons Bank raises P1.78 billion from LTNCD offer

Robinsons Bank Corp. raised P1.78 billion of long-term negotiable certificates of deposit (LTNCD), which it wants to use to support its loan growth. At the...

TransUnion says record-low delinquency rates driving consumer lending growth

TransUnion Philippines expects sustained lending growth given record-low delinquency rates and despite rising interest rates, with the credit scorer eyeing to capture small businesses...

WB-backed flood project construction due in Q4

THE bidding process for the Metro Manila Flood Management Project is set to begin next month, the World Bank (WB) said, with the construction period to start in the fourth quarter.

Japan may lend $346M for MRT-3

JAPAN is considering a 38.101 billion-yen (about $346 million) official development assistance (ODA) loan for the rehabilitation of Metro Rail Transit (MRT)-3, and an additional 4.37 billion yen for the ongoing construction of the New Bohol Airport.

GSIS warns members of penalties for overdue loans

The Government Service Insurance System (GSIS) urged its members to settle past due loan amounts until end-September to avoid further penalty charges. "Paying off your...

DTI sets 2022 target for eliminating ‘5-6’ lending

WITH added funding set aside for lending to micro, small and medium enterprises, the Department of Trade and Industry (DTI) said it hopes to eliminate the need for so-called “5-6” informal lenders by 2022.

AUB’s Q1 consolidated net income grows 21%

Asia United Bank (AUB) reported its consolidated net income went up in the first quarter on the back of double-digit growth in its core...

RCBC books higher Q1 profit on strong loan growth

Rizal Commercial Banking Corp. (RCBC) reported higher net profit in the first quarter supported by robust loan growth and reduction in non-performing assets. The Yuchengco-led...

BPI Direct BanKo aims to have 200 branches by year’s end

BPI Direct BanKo, Inc., the micro-finance unit of Bank of the Philippine Islands (BPI), targets to have 200 branches at the end of the...

How to build a business in an age where everything’s mobile

Ideation, bootstrapping, loaning and crowdfunding can all be done on a device.

Philippine banks’ 2017 profits shoot higher on strong loan growth —...

Moody's Investor Service said the robust loan growth drove higher the profit of Philippine banks in 2017, although this puts pressure on the lenders'...

FCDU loans up in 2017

FOREIGN CURRENCY loans granted by Philippine banks went up in 2017, latest central bank data showed, with bigger credit lines extended to logistics and...

Growth in money supply quickens in February

Growth in money supply picked up in February as bank lending grew by nearly a fifth, the Bangko Sentral ng Pilipinas (BSP) reported on...

Philippines, Japan sign first tranche of loan deal for subway line

THE PHILIPPINE government and the Japan International Cooperation Agency (JICA) inked on Friday, March 16, the first tranche of the loan agreement for the...

GSIS: Securing Filipinos’ lives

Through the Commonwealth Act No. 186 of 1936 and amended by Republic Act No. 8291, the Government Service Insurance System (GSIS), as a social...

Philippines eyes three loan agreements with China this year

The government is looking to sign three loan agreements with China this year, with prospective bidders already lined up to bid for project contracts,...

DBP posts 22% net income growth in 2017

Development Bank of the Philippines (DBP) saw its net income rise in 2017 on the back of steady growth in its loan portfolio. In a...

Landbank net income up by 4% in 2017

Land Bank of the Philippines (Landbank) saw its net income grow in 2017 on the back of its robust core revenues. In a statement sent...

Philippines to secure first tranche of loan from Japan for subway...

The Philippines is targeting to secure next month an initial loan line from Japan for the construction of the country’s first subway line, as...

BSP sets minimum liquidity ratio for small lenders

By Melissa Luz T. Lopez, Senior Reporter THE CENTRAL BANK will impose liquidity standards on small banks by 2019, parallel to a measure imposed on...

CARD Bank launches mobile app

DAVAO CITY — A microfinance provider part of a huge group of companies that provides services to the poor is introducing its newly implemented...

MPIC avails of P8-B loan facility

METRO Pacific Investments Corp. (MPIC) has secured an P8-billion syndicated term loan facility to partially finance the obligations of one of its subsidiaries. In a...

AboitizPower unit prepays $320M loan

ABOITIZ Power Corp. (AboitizPower) on Friday said its subsidiary Therma Power, Inc. (TPI) has prepaid $320 million in loans to several banks. AboitizPower said in...

Nonperforming loans of thrift banks climb at end-Oct.

BAD DEBTS held by thrift banks picked up by nearly a tenth as of October, although slower than the growth in total loans extended...

Central bank further relaxes rules on private sector’s FX access

THE BANGKO SENTRAL ng Pilipinas (BSP) has further relaxed its foreign exchange (FX) rules by making it easier for the private sector to tap...

ADB approves $380-M loan for Zamboanga road rehab

THE Asian Development Bank’s (ADB) Board of Directors has approved a $380-million loan to fund the rehabilitation of roads in the Zamboanga Peninsula in...

Osmeña gets council nod to negotiate for proposed P3-B Landbank loan

A MAJORITY of the Cebu City council has given authority to Mayor Tomas R. Osmeña to negotiate for a P3-billion loan from the Land...

PHL to sign new ODA loan deal with France

THE PHILIPPINES is set to sign a new official development assistance (ODA) loan agreement from France to support local government fiscal reforms. “The Philippines will...

Philippines renews $1-B pledge to IMF

THE PHILIPPINES has renewed a $1-billion loan pledge to the International Monetary Fund (IMF), the Bangko Sentral ng Pilipinas (BSP) said in a statement...