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WASHINGTON – The Bangko Sentral ng Pilipinas (BSP) said there is no excessive liquidity and credit growth that could create financial stability concerns and overheating for the Philippine economy that has been posting positive gross domestic product (GDP) growth for the past 72 consecutive quarters.

The Bangko Sentral ng Pilipinas (BSP) has given an ultimatum to banks to fully comply with the mandatory Europay-Mastercard-Visa (EMV) technology to address the interoperability issues being experienced by clients.

State-run Social Security System (SSS) is seeking to expand its coverage and services in the Bangsamoro region by establishing more linkages and opening new offices in the area.

Latest Banking News

MANILA, Philippines - All banks and quasi-banks, except local branches of foreign banks, are now required to publish their annual reports, according to the Bangko Sentral ng Pilipinas (BSP).

The Monetary Board has approved the amendments on certain sections of the Manual of Regulations for Banks (MORB) pertaining to the guidelines on the presentation of the annual report of banks and quasi banks.

The revised guidelines are contained in Circular 956, series of 2017 signed by BSP officer-in-charge Nestor Espenilla Jr.

The Asian Banker said Philippine banks would still have the second fastest growing earnings from retail banking amid the complex and constantly evolving operating environment.

BMI Research said structural reforms adopted by the Bangko Sentral ng Pilipinas (BSP) and the robust economy support the positive outlook for the country’s banking industry.

Banks are giving their clients more time to swap their old magnetic stripe ATM cards to cards equipped with the Europay-Mastercard-Visa (EMV) technology.

Banks are confident of doubling the number of kiddie savings account opened under the Banking On Your Future (BOYF) program of the Bangko Sentral ng Pilipinas (BSP) and the Department of Education (DepEd).

Philippine Savings Bank (PSBank) has cautioned clients against cyber attacks as nine out of 10 Filipinos spend over four hours every day browsing the net, scrolling websites and clicking links.

Philippine banks booked double-digit growth in loans for agriculture and agrarian reform last year but continued to fall short of the mandated threshold, data from the Bangko Sentral ng Pilipinas (BSP) showed.

The remittance arm of Rizal Commercial Banking Corp. (RCBC) has further expanded its international network to cater to more Filipinos across the world.

Interoperability issues continued to hamper the ongoing shift to the mandatory Europay-Mastercard-Visa (EMV) technology despite the reminder issued by the Bangko Sentral ng Pilipinas (BSP) to banks to ensure smooth transition.

BDO Unibank Inc. maintained its dominance in the banking industry in terms of total assets, capital, deposits, and loans last year, data from the Bangko Sentral ng Pilipinas (BSP) showed.