News

Faster transactions between borrowers and lenders in the offing, says CIC

ABS-CBN News
Updated as of Apr 23 09:35 PM

The government's Credit Information Corp. (CIC) aims to facilitate faster transactions between borrowers and lenders, such as banks, by providing credit reports for Filipinos, including those who don't have bank records yet. Read more »

PCC OKs City Savings Bank's acquisition of thrift bank

ABS-CBN News
Posted at Apr 12 03:20 PM

MANILA - Union Bank of the Philippines (UnionBank) on Thursday confirmed that the Philippine Competition Commission (PCC) has approved City Savings Bank's acquisition of the thrift bank Philippine Resources Savings Bank Corp. Read more »

Pagreport ng cyber attack sa mga bangko, gustong paikliin ng BSP

ABS-CBN News
Posted at Apr 12 03:21 AM

Gustong paikliin ng Bangko Sentral ng Pilipinas ang itinakdang panahon para i-report ng mga bangko ang mga kaso ng cybersecurity breach. Read more »

Bangko Sentral eyes 24-hour reporting time for cybersecurity breaches

Michelle Ong, ABS-CBN News
Posted at Apr 10 10:47 AM

The Bangko Sentral ng Pilipinas may shorten the minimum reporting time for lenders to report cybersecurity breaches to 24 hours from as long as 10 days, the official in charge of policing the sector said Tuesday. Read more »

Banks with heart: Women at BSP lead the way in gender equality

Jessica Fenol, ABS-CBN News
Updated as of Apr 02 12:11 PM

Women should be given more representation in bank boards so that the industry can capitalize on their strengths while helping close the gender gap, Bangko Sentral Deputy Governor Chuchi Fonacier said. Read more »

Banks announce schedules for Holy Week 2018

ABS-CBN News
Updated as of Mar 28 03:18 PM

MANILA - Banks have announced operating schedules for the Holy Week. Read more »

World's central banks cautioned on cryptocurrency risks

Agence France-Presse
Posted at Mar 13 08:41 AM

The creation of digital currencies, like bitcoin, by central banks could revolutionize the global financial system but also carries significant fraud risks, the Bank for International Settlements warned on Monday.   Read more »

Keep calm and carry on with rate hikes, central banks urged

Reuters
Posted at Mar 12 07:34 AM

The recent volatility in global financial markets should not deter top central banks from lifting interest rates or ending years of unprecedented stimulus, the Bank for International Settlements said on Sunday. Read more »

Three held as $1.8 billion fraud ripples through Indian banks

Aditya Kalra and Rajendra Jadhav, Reuters
Posted at Feb 18 09:30 AM

India's federal police detained two employees of Punjab National Bank, the state-run lender that says it has been the victim of a $1.77 billion fraud, in the first arrests in a fast-widening probe into the country's biggest-ever bank scam.  Read more »

BSP dispels meltdown fears as peso slides to 2-month low

Reuters
Posted at Feb 01 05:24 PM

Bangko Sentral ng Pilipinas Governor Nestor Espenilla on Thursday dismissed suggestions there could be a meltdown of the peso , which hit a two-month low against the US dollar, saying the currency was supported by healthy economic fundamentals. Read more »

BDO to finish first phase of chip-based card switch on Feb. 1

ABS-CBN News
Updated as of Jan 25 02:40 PM

The Philippines' largest lender, BDO Unibank, said it would complete the shift to chip-based or EMV cards for the first batch of clients by Feb. 1, ahead of the mid-year deadline set by the central bank. Read more »

Visa, Unionbank launch blockchain payment system

ABS-CBN News
Updated as of Jan 22 02:26 PM

Visa and UnionBank on Monday said they would offer the country’s first direct blockchain payment system for businesses. Read more »

Banks in Albay 'strive to deliver' services amid Mount Mayon's fury

ABS-CBN News
Posted at Jan 18 01:12 PM

The Bankers Association of the Philippines (BAP) on Thursday urged the public to contact their local banks that may be affected by Mount Mayon's activity to ensure their banking needs are met.    Read more »

Banks fortify defenses as fraud attacks rise

Vivienne Gulla, ABS-CBN News
Updated as of Jan 11 10:34 AM

Philippine banks are shifting to more secure chip-based cards and are looking at biometrics to increase their defenses as fraudsters step up attacks, an industry group said.   Read more »

Bangko Sentral probes bank fraud cases

Vivenne Gulla, ABS-CBN News
Updated as of Jan 11 01:21 PM

The Bangko Sentral ng Pilipinas said it asked banks to provide details of questioned transactions after the industry flagged an increase in fraud cases. Read more »

Tips to avoid falling prey to bank fraud

Jessica Fenol, ABS-CBN News
Posted at Jan 10 01:09 PM

Bank of the Philippine Islands this week flagged a fake website while BDO Unibank noted an "extraordinary rise" in fraud attacks, underscoring the need for consumers to secure their accounts. Read more »

SPECIAL REPORT-China frets over debts in shadow banking system

Engen Tham, Matthew Miller and David Lague, Reuters
Posted at Dec 28 09:01 PM

For China's rulers, the fear is that there may be more bad loans in the shadows of the financial system.  Read more »

Banks advise clients on New Year schedule

ABS-CBN News
Updated as of Dec 28 05:22 PM

Banks on Thursday advised clients to transact before New Year's Day on Monday, when most branches are closed for a public holiday.   Read more »

Banks announce holiday schedules

ABS-CBN News
Updated as of Dec 22 02:58 PM

Banks have announced their operating schedules for the Christmas and New Year holidays. Read more »

Selfies repel fraudsters as banks fortify digital defenses

Joel Guinto, ABS-CBN News
Updated as of Dec 13 12:20 PM

The blink of an eye triggers a selfie camera shutter and after a digital exchange between the mobile phone and a secure server, the client gains access to his bank account in a second. Read more »