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BPI merging with thrift banking subsidiary BPI Family Savings

ABS-CBN News
Posted at Jan 20 06:05 PM

The Ayala-led lender said it hopes to complete the merger this year "subject to shareholder and regulatory approvals." Read more »

LIST: BSP updates list of banks extending free transfers for 2021

ABS-CBN News
Posted at Jan 12 01:58 PM

The Bangko Sentral has updated its list of local banks extending the free interbank transfers this year through PESONet and InstaPay. Read more »

LIST: Banks waiving interbank transfer fees

ABS-CBN News
Posted at Dec 29 05:35 PM

Several banks have announced that they will be waiving interbank transfer fees via Instapay and PESONet to encourage online transactions amid the continued threat of COVID-19.   Read more »

PNB offers free bank transfers via Instapay, PESONet until March 31

ABS-CBN News
Posted at Dec 29 12:43 PM

Philippine National Bank (PNB) is extending its free bank transfers using Instapay and PESONet up to March 31 to encourage online banking to avoid the spread of COVID-19. Read more »

UnionBank thrift arm CitySavings issues P5-B notes to expand loan portfolio

ABS-CBN News
Posted at Dec 22 04:24 PM

CitySavings, the thrift bank arm of UnionBank, has issued P5 billion of corporate notes to expand its loan portfolio, refinance its maturing debts, and for other corporate requirements. Read more »

LIST: Banks announce schedules for Christmas holidays

ABS-CBN News
Updated as of Dec 23 09:05 AM

Local banks have announced their schedules for the holidays and advised clients to settle bank transactions early. Read more »

Fintech players welcome new digital banking framework as consumers move to virtual realm

ABS-CBN News
Updated as of Nov 27 10:16 PM

Financial technology and digital industry players welcomed the BSP's approval of a digital banking framework, as part of efforts to extend financial services. The Philippine central bank on Thursday approved rules allowing the creation and licensing of digital banks as consumers increasingly turn to the virtual realm for banking. Read more »

BSP recognizes 'digital bank' as new bank category

ABS-CBN News
Posted at Nov 27 01:09 AM

The Bangko Sentral ng Pilipinas' (BSP) Monetary Board has officially recognized "digital bank" as a new bank category, in line with its Digital Payments Transformation Roadmap which seeks to streamline financial technology in the country.   Read more »

PH banks' growth 'tempered' until 2021 on weaker economy, COVID cases: analyst

ABS-CBN News
Updated as of Nov 25 02:35 PM

MANILA - Philippine banks' recovery and growth are seen to be "tempered" until next year given the lingering effects of the pandemic on the economy, an analyst at Fitch Ratings told ANC's Market Edge. Read more »

PNP-HPG warns banks vs carnapping accomplices

ABS-CBN News
Posted at Nov 25 10:25 AM

The Philippine National Police-Highway Patrol Group on Wednesday warned banks as their employees may be involved in allowing the leasing of vehicles to carnapping groups.   Read more »

Cash cards for kids - digital banks race to capture the next generation

Anna Irrera and Iain Withers, Reuters
Posted at Nov 19 09:36 AM

While traditional banks have long offered basic savings accounts to children, fintechs say they have spotted an opportunity to offer better, slicker apps to tech-savvy kids and teenagers, who they say have been under-served. Read more »

Google to integrate bank accounts in payments app

Agence France-Presse
Posted at Nov 19 06:59 AM

The internet giant said Wednesday it would be partnering with commercial banks and credit unions starting next year to allow users to manage mobile-based accounts through the Google Pay platform, in the latest move by tech giants into consumer finance.   Read more »

Senate approves on final reading FIST bill to cushion banks from bad loans

Katrina Domingo, ABS-CBN News
Posted at Nov 10 07:33 PM

The Senate on Tuesday unanimously passed on final reading the Financial Institutions Strategic Transfer (FIST) Act bill to cushion banks from the possible build up of bad loans due to the COVID-19 crisis. Read more »

Bank loans scrutinized for harm to wildlife, climate

Matthew Green, Reuters
Posted at Oct 28 10:29 AM

Campaigners called on Wednesday for global banks to stop financing industrial activities driving animal and plant species towards extinction, after a report ranked 50 lenders involved in sectors that pose the greatest threat to wildlife. Read more »

BDO posts P12.3-B income in the third quarter, cautions pandemic impact not yet over

ABS-CBN News
Updated as of Oct 26 03:09 PM

BDO Unibank said on Monday it posted P12.3 billion in net income in the third quarter despite the continuing impact of the pandemic. Read more »

Which central bank will launch world’s first digital currency?

Amanda Lee, South China Morning Press
Posted at Oct 14 11:43 PM

Sovereign digital currencies are traditional money, but in digital form, that will be issued and governed by the world’s regional central banks   Read more »

Thrift banks seek higher insurance coverage on deposits, other measures

ABS-CBN News
Posted at Oct 13 02:38 PM

The Chamber of Thrift Banks on Tuesday sought the help of the central bank to extend the lower minimum liquidity requirement for thrift banks and to raise the insurance coverage of deposits under the Philippine Deposit Insurance Corp. Read more »

Bangko Sentral urges thrift banks to leverage 'limitless' potential of digital tech

ABS-CBN News
Posted at Oct 13 12:07 PM

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Tuesday thrift banks should take advantage of the "limiteless" potential of digital technology including cloud banking.    Read more »

Global watchdogs agree rules for stablecoins like Facebook's Libra

Huw Jones, Reuters
Posted at Oct 13 08:55 AM

Central banks set out to regulate cross-border stablecoins like Facebook's planned Libra with a common approach on Tuesday, saying more rules may later be needed to ensure stability. Read more »

Mid-recovery, coronavirus spreading, global central bankers take stock

Howard Schneider, Reuters
Posted at Oct 06 01:51 PM

The world's top central bankers have opened the taps with trillions of dollars in promised credit to prevent a global pandemic from causing a global economic depression. Read more »