By The Financial District
Bank Lending Up 10%; Money Supply Hit ₱16-T
The outstanding loans of big banks grew 10% year-on-year in February on sustained credit demand despite high inflation, but the growth was..
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By The Financial District
- Apr 28
- 3 min
BSP Expands Islamic Finance-Certified Personnel
The Bangko Sentral ng Pilipinas (BSP) is increasing its Islamic finance experts and personnel to promote Islamic banking in the country...
By The Financial District
- Apr 28
- 1 min
Credit Suisse Bondholders Sue Swiss Officials
Investors representing more than 4.5 billion Swiss francs ($5 billion) of Credit Suisse bonds have sued the Swiss financial regulator over..
By The Financial District
- Apr 27
- 3 min
BSP Issues Pro-Consumer Arbitration Rules
The Bangko Sentral ng Pilipinas (BSP) has approved the guidelines on how it will mediate and adjudicate financial consumers’ complaints...
By The Financial District
- Apr 27
- 2 min
UnionBank Expands Bond Program To ₱50-B
Aboitiz-led Union Bank of the Philippines (UnionBank) is increasing its peso-denominated bonds program to P50 billion from P39 billion.
By The Financial District
- Apr 27
- 1 min
Big Banks Pamper Fossil Fuel Sector With Cash
Oil, gas and coal companies not only made record profits in 2022 but were also able to count on continued strong support from banks.
By The Financial District
- Apr 26
- 2 min
BDO Consolidates Podium Ownership
BDO Unibank Inc. is buying out its joint venture partners in SM Keppel Land Inc. to take full ownership of the Podium Complex in Ortigas.
By The Financial District
- Apr 26
- 2 min
LBP Poised To Become Largest Bank In PH
Land Bank of the Philippines (LBP) is poised to overtake the Sy-led BDO Unibank Inc. as the country’s largest bank after President Marcos...
By The Financial District
- Apr 25
- 1 min
First Republic Bank Lost $100-B In Deposits Last Month
First Republic Bank’s deposits fell by nearly $100 billion, or 41% after customers withdrew “unprecedented” amounts during the March...
By The Financial District
- Apr 24
- 1 min
Gov’t Debt Payments Rose 7% In 2022
Debt servicing of the national government increased last year due to higher interest payments.
By The Financial District
- Apr 23
- 1 min
JPMorgan Chase Reports Record Revenue
JPMorgan Chase (JPM) last week reported first-quarter profit and revenue that roundly beat expectations.
By The Financial District
- Apr 23
- 2 min
Gov’t Borrows ₱12.8-B More Via T-Bills Float
Results were mixed at the short-term securities auction on March 13, with the government borrowing about 85% of its programmed Treasury...
By The Financial District
- Apr 22
- 2 min
Security Bank Puts Up BBS For MSMEs
Security Bank Corp. (SBC) has established its Business Banking Segment (BBS) to serve Micro, Small, and Medium Enterprises (MSMEs) as a...
By The Financial District
- Apr 22
- 1 min
Accounting Firm EY Calls Off Split Of U.S. Unit
Accounting firm Ernst & Young (EY) has called off its plan to break up its auditing and consulting divisions and said it was "stopping..."
By The Financial District
- Apr 22
- 1 min
Credit Suisse Employees Demand Freeze On Job Cuts
Credit Suisse and UBS must freeze any job cuts planned as part of their emergency merger, the Swiss Bank Employees' Association (SBPV)...
By The Financial District
- Apr 20
- 2 min
UBX Now Powering AboitizPower's Mobile App
In a game-changing partnership, UnionBank of the Philippines’ UBX has teamed up with Aboitiz Power Corporation (AboitizPower), one of the...
By The Financial District
- Apr 19
- 3 min
BSP Income Up 141% In 2022
The Bangko Sentral ng Pilipinas (BSP) reported a net income of P83.82 billion in 2022, up by P49.1 billion or 141.4 percent compared to...
By The Financial District
- Apr 18
- 1 min
Ukraine Gets More Than $5-B Aid From G7
Ukraine is set to receive more than $5 billion in additional aid from G7 member countries as their finance ministers made this commitment...
By The Financial District
- Apr 17
- 1 min
Japan Business Insurance Now Covers Rogue Staff
While customer abuse, workplace bullying, and viral employee pranks create headaches for Japanese companies, insurance firms are digging...
By The Financial District
- Apr 17
- 1 min
IRS Vows More Audits For Wealthy Taxpayers
The IRS has just released details on how it plans to use $80 billion for improved operations, pledging to invest in new technology, hire...
By The Financial District
- Apr 17
- 1 min
SEC Warns vs Scammers Posing As Financiers
Certain individuals claiming to represent Philippines First Circle Micro Loan Co. Ltd. and Easy Loan Finance Corp. are soliciting...
By The Financial District
- Apr 17
- 1 min
Cash Remittances Up 3.5% In January, But…
The Bangko Sentral ng Pilipinas (BS) reported that money sent home through banks by overseas Filipino workers (OFWs) rose by 3.5% annually..
By The Financial District
- Apr 17
- 2 min
Pre-Need Industry Income Down 90%
Earnings of the pre-need industry dropped almost 90% in 2022, with its bottom line falling below P500 million even amid an increase in the..
By The Financial District
- Apr 17
- 2 min
PNB Income Slid To ₱11.6-B In 2022
The net income of Lucio Tan’s Philippine National Bank (PNB) fell by 63.4% to P11.58 billion last year from P31.69 billion in 2021 due to...
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