News

Moody's keeps 'stable' outlook on PH banks, warns of risk over Hanjin

ABS-CBN News
Updated as of Jan 16 10:57 AM

Philippine banks are on "strong footing" with "robust" capital and liquidity buffers to withstand challenges that could come up in the next 12 to 18 months, Moody’s Investor Service vice president and senior analyst Simon Chen told ANC.  Read more »

RCBC forms 'green' finance framework

ABS-CBN News
Updated as of Jan 14 12:39 PM

Funding will focus on renewable energy, green buildings, clean transport, energy efficiency, and pollution prevention and control, RCBC told the stock exchange. Read more »

As Hanjin seeks rehab, BSP says PH banking system ‘strong, stable’

ABS-CBN News
Updated as of Jan 11 08:11 PM

The industry remains "very liquid and profitable," the BSP said. Read more »

Hanjin creditors risk earnings hit if loans not provisioned: analyst

ABS-CBN News
Updated as of Jan 11 04:46 PM

Reeling from a global slowdown in shipping, Hanjin's Philippine unit sought court-assisted rehabilitation to pay 5 banks some $412 million. Read more »

Philippine banks seek to collect millions from downturn-hit Hanjin

ABS-CBN News
Updated as of Jan 11 09:53 PM

Hanjin, which employs 3,000 people at its shipyard north of Manila, has $2.3 billion in assets and the rehabilitation filing was a "proactive move" to avoid default, said Subic Bay Metropolitan Authority administrator Wilma Eisma. Read more »

ANC Soundbytes: Ex-RCBC exec convicted for Bangladesh Bank heist

ABS-CBN News
Posted at Jan 10 10:16 PM

It's been two years since the Bangladesh Bank heist, one of the world's biggest cyber bank heists.  Read more »

Ex-RCBC exec guilty sa pagkakadawit sa Bangladesh cyber heist

ABS-CBN News
Posted at Jan 10 07:02 PM

Guilty ang hatol ng korte sa manager ng RCBC Jupiter branch na dawit sa $81 milyon ninakaw ng mga hacker mula sa New York Federal Reserve ng Bangladesh Central Bank noong 2016.  Read more »

PH must 'lighten' bank secrecy law to fight dirty money: Osmeña

ABS-CBN News
Posted at Jan 10 01:02 PM

Loosening the country's bank secrecy law will help government's crackdown on money laundering, according to a former lawmaker who led an investigation into the $81-million cyber heist on Bangladesh Bank. Read more »

Bangladesh presses PH on raps vs other RCBC officials

ABS-CBN News
Posted at Jan 10 11:51 AM

Maia Santos Deguito was sentenced to 4 to 7 years in prison for each of 8 counts of money laundering and was ordered to pay a fine of $109 million. Read more »

'Scapegoat': Ex-RCBC manager maintained innocence before dirty money verdict

ABS-CBN News
Posted at Jan 10 11:23 AM

Maia Deguito is the only person so far to be convicted in court. Investigations by the Senate and the Department of Justice spanned bank executives, high rollers and government officials. Read more »

Ex-RCBC manager Deguito found guilty of money laundering

ABS-CBN News
Updated as of Jan 10 01:24 PM

Deguito was the manager of the RCBC where a portion of the $81 million that was stolen by unknown hackers of Bangladesh Bank were deposited in accounts under fictitious names, based on the Department of Justice investigation. Read more »

RCBC offers online foreign exchange for frequent travelers

ABS-CBN News
Posted at Nov 28 08:55 AM

RCBC said frequent travelers can secure the following currencies ahead of time: US dollar, euro, pound, yen, Singaporean dollar, Australian dollar, Canadian dollar, Hong Kong dollar, Swiss franc and Chinese yuan Read more »

RCBC says to merge with thrift unit RCBC Savings

ABS-CBN News
Posted at Nov 27 09:20 AM

RCBC will be the surviving entity after the merger, which will become effective on July 1, 2019, according to a stock exchange filing. Read more »

RCBC Savings Bank to merge into parent firm RCBC

ABS-CBN News
Posted at Sep 25 10:47 AM

MANILA - Rizal Commercial Banking Corporation on Tuesday announced the consolidation of its thrift bank subsidiary RCBC Savings Bank into the parent firm subject to regulatory approval. Read more »

U.S. charges North Korean in Bangladesh central bank, Sony hacks

Agence France-Presse
Updated as of Sep 07 08:31 AM

The hack of the central bank of Bangladesh saw at least $81 million stolen and transferred between a number of accounts in the Philippines and elsewhere, rendering most of it unrecoverable. Read more »

RCBC Savings Bank chief likens role to orchestra 'conductor'

Jan Yumul, ABS-CBN News
Updated as of Aug 17 03:29 AM

For the boss of RCBC Savings Bank, managing a business is a lot like overseeing an orchestra.  Read more »

RCBC bullish on SME, consumer loans despite rising rates

ABS-CBN News
Posted at Jul 16 04:25 PM

There is continuing demand for loans from small enterprises and consumers for cars, homes and credit cards.  Read more »

RCBC Savings Bank defends loan growth from auto tax, higher interest rates

Cathy Yang, ABS-CBN News
Posted at Jul 04 12:27 PM

Sales in the first half are "on track," but reports from auto dealers that sales are going down "worries" the thrift arm of Rizal Commercial Banking Corp, said its president Rommel Latinazo. Read more »

Digitized peso free from cryptocurrency speculation: RCBC

ABS-CBN News
Updated as of Jun 26 09:55 AM

The Philippines 10th largest lender launched the ePiso last March, allowing clients to transact using digital wallets. The bank said it would also help bring financial services closer to the countryside. Read more »

RCBC 'definitely not settling' with Bangladesh Bank over $81 million caper

ABS-CBN News
Updated as of Jun 26 10:10 AM

The Philippines' 10th largest bank was also "victimized" when unidentified hackers shifted the money to RCBC accounts after they stole it money from Bangladesh Bank's account with the New York Federal Reserve, said RCBC president Gil Buenaventura. Read more »