Philippines
Philippine remittances up 2.9% to $3b in November: central bank
Cumulative personal remittances grew to $33.6b in the first 11 months of 2023.
Philippine remittances up 2.9% to $3b in November: central bank
Cumulative personal remittances grew to $33.6b in the first 11 months of 2023.
Former PH finance secretary appointed to monetary board
He joins a seven-member board headed by BSP governor Eli Remolona, Jr.
BDO to issue $89.2m in fixed-rate sustainability bonds
It has a tenor of 1.5% years and a coupon rate of 6.025% per annum.
BPI doubles GCash e-loading fee
GCash loading via ECPay fee will be charged PHP10 starting March.
Philippine bank lending up 7% in November 2023
Loans to production activities rose thanks to a growth in real estate and energy activities.
Eight in 10 Filipinos are optimistic about formal credit options
However, 42% said there were no changes in the accessibility of formal credit alternatives.
BSP onboards first non-bank e-money issuer in real-time settlement system
OmniPay no longer needs an existing RTGS participant to sponsor their settlement.
Philippine central bank amends policy on bounced checks
It has also reintroduced the Intraday Settlement Facility for banks.
BDO, top Asian banks publish new report on climate initiatives
The report offers practical insights and recommendations for financial institutions assessing transition finance cases.
BSP: cap on online payment facilities to stay
This aligns with the BSP's ongoing efforts to encourage digital financial transactions.
RCBC unveils banking services in a remote Philippine island
Inhabitants of Turtle Island will now have access to RCBC’s deposit and digital payment services.
GCash eyes “biggest IPO” title, overseas expansion in 2024
The Philippines’ biggest payments and mobile wallet floats the possibility of going public soon.
Philippine banks sees lending go up by 7.1% in October
Loans for production activities rose during the month.
PH’s BillEase teams up with Alipay+ to roll out auto-debit feature
It grants merchants pre-authorization to automatically deduct funds.
Philippine banks to see higher credit demand but lower earnings in 2024
The bad loan ratio is expected to deteriorate, but it should be manageable.
Philippine court convicts owner of unregistered money exchange business
The owner and operator of Globexmc can no longer own and operate an MSB.
GCash, agrifisheries platform Mayani to offer loans to rural farmers, fisherfolk
They will jointly underwrite and facilitate loans to Mayani’s 144,000-strong network.
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Technology to underpin future of financial services
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Banks should boost their online infrastructure as digital assets become the norm.
Banks should boost their online infrastructure as digital assets become the norm.
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