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ING Philippines launches e-payments service, takes aim at GCash, Paymaya

Bruce Rodriguez, ABS-CBN News
Posted at Nov 24 04:56 PM

ING Bank Philippines on Tuesday launched its own e-payments service called, ING Pay, joining a fast-growing sector dominated by GCash and PayMaya. Read more »

Bangko Sentral makes surprise rate cut as economic slump continues

ABS-CBN News
Updated as of Nov 19 05:40 PM

The Bangko Sentral ng Pilipinas made a surprise 25 basis points policy rate cut on Thursday, bringing the overnight reverse repurchase facility to a new historic low of 2 percent. Read more »

BSP not rushing to cut rates despite steep GDP contraction in third quarter

ABS-CBN News
Posted at Nov 12 12:45 PM

The Bangko Sentral ng Pilipinas said Thursday it is not going to rush new rate cuts despite the Philippine economy's worse than expected contraction in the third quarter. Read more »

Cap on credit card interest rate, fees takes effect Nov. 3: BSP

ABS-CBN News
Updated as of Nov 03 08:07 PM

Credit card companies may charge interest or finance charge up to only 24 percent yearly, or a monthly interest rate of up to 2 percent on all transactions. Read more »

Banks keeping lending tight despite record low interest rates: BSP

ABS-CBN News
Posted at Oct 29 08:48 PM

Philippine banks remain reluctant to lend to businesses and households despite the central bank’s moves to encourage more lending to stimulate the economy, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. Read more »

Nostalgia: Living and partying in Rockwell, the early years

Monchet Diokno Olives
Updated as of Oct 25 09:26 PM

As they try to revive the al fresco scene of this posh vertical residential community in the time of COVID, an OG resident looks back at the promise and spirit of Rockwell's early years  Read more »

Bangko Sentral eyes new credit rating model 'away from collateral' for small, medium firms

ABS-CBN News
Updated as of Oct 24 05:50 PM

The Bangko Sentral ng Pilipinas is studying a credit rating model that is not based on collateral for micro, small and medium enterprises, Governor Benjamin Diokno said Friday. Read more »

Philippine economy poised to recover in Q3 from 'rock bottom' Q2 figures: BSP

ABS-CBN News
Posted at Oct 23 11:04 AM

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said the third quarter gross domestic product would be better than the "rock bottom" second quarter figures after the reopened economy showed "positive indicators."   Read more »

BSP 'unlikely' to issue own digital currency under Gov. Diokno's term

ABS-CBN News
Posted at Oct 22 05:25 PM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Thursday its unlikely for the Central Bank to issue its own digital currency during his term. Read more »

Remittance decline likely ‘less than’ expected in 2020: BSP

ABS-CBN News
Posted at Oct 16 10:44 AM

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Friday remittances could shrink by less than the initial forecast of 5 percent due to improving figures.  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 »

Bangko Sentral unveils digital payments roadmap

ABS-CBN News
Posted at Oct 12 10:32 PM

The Bangko Sentral ng Pilipinas on Monday said it wants to raise the share of digital payments to 50 percent of all retail transactions and expand financial inclusion to 70 percent of Filipino adults by 2023. Read more »

Bangko Sentral to lay down rules for ‘digital banks’

Warren de Guzman, ABS-CBN News
Posted at Oct 08 05:31 PM

Digital banks will be different from existing banks as they will offer financial products and services that are processed end-to-end through digital platforms and electronic channels. Read more »

Transport costs hit highest level since November 2018

ABS-CBN News
Posted at Oct 06 09:52 PM

Bangko Sentral ng Pilipinas governor Benjamin Diokno expects the country's inflation print to remain benign after it hit a four-month low in September.  Read more »

Can't 'impose' on banks to waive online transfer fees as BSP tells consumers it's cost of 'convenience'

ABS-CBN News
Updated as of Oct 05 12:02 PM

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Monday they could ask but not order or impose on banks to waive fees for online money transfers as this forms "part of their business." Read more »

Savings, deposits in PH rise as pandemic causes drop in spending: BSP

ABS-CBN News
Posted at Oct 05 10:26 AM

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Monday, the pandemic uncertainty is pushing Filipinos to save more as most of them stay holed up in their homes.    Read more »

BSP keeps key rates steady for second straight session

ABS-CBN News
Updated as of Oct 01 04:38 PM

The Bangko Sentral ng Pilipinas on Thursday kept the key interest rate at a record-low 2.25 percent as the economy continues to gradually reopen following the lockdowns to curb the spread of the virus.   Read more »

BSP in wait-and-see mode, to keep rates on hold

Enrico dela Cruz, Reuters
Updated as of Oct 01 10:27 AM

The Philippine central bank is expected to keep key interest rates unchanged on Thursday while assessing future moves after some aggressive policy easing this year to support the pandemic-ravaged economy, a Reuters poll showed. Read more »

Ombudsman order limiting SALN access 'putting blinders' on public: Chel Diokno

ABS-CBN News
Updated as of Sep 23 11:29 AM

An Ombudsman order limiting public access to government officials' declaration of wealth puts blinders on the public, lawyer Chel Diokno said Wednesday. Read more »

BSP sets 'enhanced' website launch in October, aims to bring central bank 'closer to the people'

ABS-CBN News
Posted at Sep 21 01:14 PM

The Bangko Sentral ng Pilipinas said Monday it would launch its enhanced website in mid-October in a bid to connect more to consumers.    Read more »