Bangko Sentral policy, lending and deposits, insurers, digital banks and fintech in the Philippines.
Banking & Finance
MANILA, Philippines — The state-run Land Bank of the Philippines is putting nearly P12 billion behind five solar projects by Citicore Renewable Energy Corp. (CREC) in Batangas as it expands its solar footprint nationwide. In a statement, the state-run lender said it provided P11.68 billion to CREC, which forms part of a P35.014-billion…
Banking & Finance
CITICORE Renewable Energy Corp. (CREC) has secured P35.014 billion in syndicated financing from three banks to develop five solar projects in Batangas with a combined capacity of 900 megawatts-peak (MWp). Bank of the Philippine Islands, Land Bank of the Philippines and Development Bank of the Philippines provided the financing, CREC…
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Banking & Finance
Union Bank of the Philippines is moving to absorb the businesses of its digital banking and financial technology subsidiaries into its parent operations, as the Aboitiz-led lender seeks to streamline its operations and strengthen its digital banking services.
Banking & Finance
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has disqualified five money service businesses operating without prior registration, barring their owners from running other sole proprietorships as well. The Monetary Board, the BSP’s policy-making body, named Shara-P Money Changing Services and Downtown Money Changer among the…
MANILA, Philippines — Pag-IBIG Fund’s housing loan releases climbed 20 percent in the first nine months of the year as financing for minimum wage and low-income members nearly tripled under the government’s socialized housing program.
BENCHMARK interest rates will likely rise further until early 2027 as red-hot inflation warrants further tightening by the Bangko Sentral ng Pilipinas (BSP), according to economists.
MANILA, Philippines — Interest rate cuts may be pushed further into the future after the Bangko Sentral ng Pilipinas (BSP) signaled it was prepared to raise rate further to choke off rapid inflation, economists said, suggesting that price stability would take precedence over economic growth.
