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Central bank shuts down another rural bank

THE Philippine central bank has ordered for the closure of AMA Rural Bank of Mandaluyong, Inc. and ordered the Philippine Deposit Insurance Corp. (PDIC) to take over its liquidation.

PSBank Q3 net income jumps 20% on fees

PHILIPPINE Savings Bank (PS Bank) posted a 20% increase in profits to P813 million in the third quarter from a year earlier, boosted by interest and fee-based income, according to a stock exchange filing on Friday.

Reserves hit $85.7B at end-Oct.

GROSS INTERNATIONAL reserves (GIR) — which shield the country from liquidity shocks — strengthened further at end-October, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.

Peso strengthens on GDP data

THE PESO strengthened against the dollar on Wednesday on the back of the rebound in economic growth as well as the growth in gross international reserves (GIR).

Yields on term deposits slip on RRR cut

YIELDS on the central bank’s term deposits slipped on Wednesday as inflation eased in October and following increased liquidity due to the reserve requirement ratio (RRR) cut that took effect this month.

Money market gets boost from BSP easing

THE MONEY MARKET has been seeing the effects of the monetary easing of the Bangko Sentral ng Pilipinas (BSP), according to the Money Market Association of the Philippines (MART).

Peso weakens against the dollar on US non-manufacturing data

THE PESO weakened against the dollar on Wednesday following its rally amid better-than-expected US data reported late Tuesday.

Oct. inflation slowest in 3-1/2 years

THE OVERALL rise in prices of widely used goods eased for the fifth straight month to its slowest pace in nearly three-and-a-half years in October, the Philippine Statistics Authority (PSA) reported on Tuesday, citing year-on-year drops for the heavily weighted food and non-alcoholic beverages, transportation and utilities.

Peso extends climb as inflation eases

THE PESO rallied further on Tuesday as inflation eased to a three-year low in October.

Tetangco receives recognition from Japanese government

FORMER BANGKO Sentral ng Pilipinas (BSP) governor Armando M. Tetangco Jr. has been recognized by the Japanese government for his role in liberalizing the entry of foreign banks in the Philippines.

Security Bank net profit climbs 22% in Q3

SECURITY BANK Corp. recorded a higher net profit in the third quarter, driven by double-digit growth in its income from loans and deposits.

Demand for VUL insurance growing in the Philippines

MORE FILIPINOS are choosing to purchase variable unit linked (VUL) products over traditional life insurance, Manulife Philippines said, causing insurers to fine-tune their products to meet the growing demand.

Government outstanding debt rises 10.4% at end-Sept.

THE national government’s outstanding debt was P7.907 trillion at the end of September, up 10.4% year-on-year, the Bureau of the Treasury (BTr) said.

Peso rallies on US-China talks

THE PESO CONTINUED to strengthen against the dollar on Monday on the back of optimism on a US-China trade deal.

Earthquake victims to be prioritized in their insurance claims

THE Insurance Commission has activated its disaster response mechanism to fast-track claims from earthquake-affected residents of Mindanao.

Poll bares outlook of even slower inflation in Oct.

INFLATION likely slowed further in October as a continued easing of prices of rice and fuel offset any upside pressure from pork substitutes amid the onslaught of African swine fever (ASF), according to a poll of 14 economists conducted late last week.

Peso to climb on inflation, GDP

THE PESO may strengthen this week on the back of expectations of lower inflation and faster economic growth.

BSP: Oct. inflation could still be below 1%

OCTOBER could have seen the second straight month of below-one percent inflation, the Bangko Sentral ng Pilipinas (BSP) said on Thursday, citing lower fuel and rice prices that could have offset increases in electricity and water rates as well as prices of select food.

Liquidity growth picks up in September

MONEY SUPPLY growth picked up in September as demand for credit inched up and following the recent cut in banks’ reserve requirement ratios (RRR).

Peso strengthens to one-year high

THE PESO closed at its best level in more than a year on Thursday as the US Federal Reserve cut rates and following weak US economic data.

Term deposits fall after reserve requirement cut

YIELDS on the central bank’s term deposits mostly fell on Wednesday after another reserve requirement ratio (RRR) cut last week.

Higher capital triggers insurance mergers

LOCAL INSURERS have been consolidating amid a continued increase in capital requirements.

Peso strengthens on Fed rate-cut prospect

THE PESO rallied against the dollar on Wednesday amid market expectations of another rate cut by the US Federal Reserve, whose members were set to decide on policy hours later.

BPI boosts digital services as more clients go online

BANK OF THE Philippine Islands (BPI) has boosted its digital ecosystem by sealing partnerships for open banking and allowing more services to be accessible through its mobile app and online banking, as well as its pilot of a conversational banking app.

BSP invests $150 million in BIS green bonds

THE BANGKO SENTRAL ng Pilipinas (BSP) has invested $150 million in the open-ended green bonds launched by the Bank of International Settlements (BIS).

Criminals recruiting ‘mules’ for fund transfers

THE Bangko Sentral ng Pilipinas (BSP) warned the public about criminals recruiting “mules” to facilitate their illicit fund transfers, adding that such accomplices are liable under money-laundering rules.

Peso ends flat vs dollar

THE PESO moved sideways against the dollar on Tuesday on bargain hunting as the local unit approached the P51 level.

RCBC eyes P3B from bonds

RIZAL COMMERCIAL Banking Corp. is looking to raise at least P3 billion via three-year peso-denominated bonds, part of a fund-raising program that aims to extend the maturity of the bank’s liabilities and strengthen its liquidity ratios.

LANDBANK net profit climbs 23% in Q3

LAND BANK of the Philippines’ (LANDBANK) net income climbed 23% year-on-year to P13.97 billion in the third quarter from P11.36 billion a year ago, putting it on track to meet its full-year profit goal of P16.64 billion.

Peso edges higher ahead of Fed

THE PESO moved sideways against the dollar on Monday as the market awaits the US Federal Reserve’s meeting this week, as well as positive developments in the US-China trade talks.

Peso to strengthen ahead of Fed policy meeting

THE PESO may strengthen this week on expectations of another rate cut from the US Federal Reserve and amid the ongoing US-China and Brexit talks.

AMLC has frozen P1 billion worth of assets as of July

THE Anti-Money Laundering Council (AMLC) said it has frozen over P1 billion worth of assets and seized a further P600 million between January 2018 and July 2019, in the course of investigations into money laundering and terrorist financing.

ASF, volatile oil prices may push inflation up in 2020 —...

THE central bank on Friday flagged an upside risk to inflation next year, amid the volatility of global oil prices and the African Swine Fever (ASF) outbreak.

Fresh RRR cut to boost lending, economy

THE SURPRISE reserve requirement ratio (RRR) cut announced on Thursday by the central bank will free up more funds for loans, which can help boost the economy, according to Bankers Association of the Philippines (BAP) and Bank of the Philippine Islands (BPI) President Cezar P. Consing.

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.

Peso rises after RRR cuts

THE PESO strengthened on Friday on the back of a fresh reserve requirement ratio (RRR) cut announced by the central bank, as well as risk-on sentiment due to an unclear Brexit, which supported currencies in emerging markets.

BSP trims RRR anew

THE Bangko Sentral ng Pilipinas (BSP) has cut banks’ reserve requirement ratio (RRR) for the fourth time this year, with the latest reduction to take effect in December.

S&P sees two more rate cuts until 2021

THE PHILIPPINES, together with neighbor Indonesia, may cut benchmark rates twice over the next two years, S&P Global Ratings said.

Metrobank raises P13.75B

METROPOLITAN BANK & Trust Co. raised P13.75 billion in fresh funds from its issuance of 3.5-year peso-denominated bonds, it said on Thursday.

Peso weakens anew versus dollar

THE PESO weakened on Thursday due to risk-off sentiment arising from geopolitical tensions in Hong Kong and Europe.

Customs marks P53 million of gas oil

ABOUT P53 million worth of gas oil with paid taxes amounting to P405.4 million was dosed with official fuel marker as part of a Customs initiative to deter smuggling.

Yields on term deposits up on government spending boost

YIELDS on term deposits slightly recovered on Wednesday amid improved government spending and market anticipation for yet another rate cut from the US Federal Reserve.

Peso up on Brexit delay

THE PESO rallied against the dollar on Wednesday with risk-on sentiment in the market rising, as another delay in Britain’s exit from the European Union looms.

BSP to monitor banks’ response to fresh RRR cuts

THE BANGKO SENTRAL ng Pilipinas (BSP) will monitor how banks will respond to the pre-announced reserve requirement ratio (RRR) reductions taking effect next month, an official said.