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Lawrence Agcaoili
Lawrence Agcaoili
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BPI microfinance unit targets P2 billion loan book
by Lawrence Agcaoili - May 22, 2018 - 12:00am
BPI Direct BanKo, the microfinance arm of Ayala-led Bank of the Philippine Islands, is expanding its loan book to P2 billion this year, more than four times the P450-million recorded last year.
BSP prods rural banks to expand, lend more
by Lawrence Agcaoili - May 22, 2018 - 12:00am
The Bangko Sentral ng Pilipinas (BSP) yesterday cited the role of rural banks in promoting broader countryside development through financial inclusion and in helping micro, small and medium enterprises (MSMEs), as...
Peso falls to 11-year low
by Lawrence Agcaoili - May 22, 2018 - 12:00am
The peso continued to weaken yesterday, shedding 13.5 centavos to close at a fresh 11-year low amid the country’s weakening external payments position due to the widening trade and current account defici...
BSP ready to recalibrate policy stance
by Lawrence Agcaoili - May 21, 2018 - 12:00am
Monetary authorities are prepared to recalibrate the country’s policy stance, if the earlier rate hike is not enough to keep inflation within the two to four percent target set by the Bangko Sentral ng Pilipinas...
Philippines less vulnerable to US rate hikes – Fitch
by Lawrence Agcaoili - May 21, 2018 - 12:00am
The Philippines, together with its banking and corporate sectors, is less vulnerable to the ongoing normalization path being taken by the US Federal Reserve, according to Fitch Ratings.
Remittances likely recover in April — ING
by Lawrence Agcaoili - May 20, 2018 - 12:00am
Dutch financial giant ING Bank sees remittances recovering after booking its steepest decline in 15 years last March amid the continued repatriation of Filipino workers from the Middle East as well as fewer banking...
BSP further eases forex rules
by Lawrence Agcaoili - May 19, 2018 - 12:00am
The Bangko Sentral ng Pilipinas yesterday launched its 11th wave of foreign exchange liberalization measures as part of the ongoing game-changing financial sector reforms.
Hot money inflow up 5-fold in April 2018
by Lawrence Agcaoili - May 19, 2018 - 12:00am
Foreign portfolio investments or hot money continued to flow into the Philippines on the back of the country’s sound macroeconomic fundamentals, the Bangko Sentral ng Pilipinas reported yesterday.
PSBank ups Q1 profit by 25%
by Lawrence Agcaoili - May 18, 2018 - 12:00am
Philippine Savings Bank (PSBank) booked a 25 percent jump in net income in the first quarter on the back of the strong performance of the listed bank’s core businesses.
BSP tightens rules on 'white knights' in distressed banks
by Lawrence Agcaoili - May 18, 2018 - 12:00am
The Bangko Sentral ng Pilipinas has tightened the requirements for the entry of “white knights” or third party investors to address the capital deficiency and restore the viability of a distressed ...
Fitch unit hikes 2018 Philippines growth forecast to 6.5%
by Lawrence Agcaoili - May 18, 2018 - 12:00am
BMI Research has upgraded the country’s economic growth forecast, but sees expansion slowing down after a strong performance in the first quarter.
EastWest Q1 profit down 22% to P945 million
by Lawrence Agcaoili - May 17, 2018 - 12:00am
Losses from securities trading due to the volatile markets and lower contribution from its rural bank arm pulled down the earnings of Gotianun-led East West Banking Corp. by 22 percent in the first quarter.
Remittances drop at steepest pace in 15 years
by Lawrence Agcaoili - May 17, 2018 - 12:00am
Remittances from overseas Filipino workers plunged by nearly 10 percent in March, the sharpest decline in almost 15 years due to the repatriation of Filipino workers and the fewer banking days in March due to the...
Term deposit rates rise
by Lawrence Agcaoili - May 17, 2018 - 12:00am
Term deposits yesterday fetched higher rates across the board after the Bangko Sentral ng Pilipinas lifted benchmark rates for the first time in more than three years to curb rising inflation.
S&P upgrades credit risk assessment on Philippine banks
by Lawrence Agcaoili - May 16, 2018 - 12:00am
S&P Global Ratings upgraded its assessment on the country’s banking industry amid reduced credit risk with the establishment of credit bureaus as well as improving credit fundamentals.
Banks urged to step up defense vs cyberattacks
by Lawrence Agcaoili - May 16, 2018 - 12:00am
The Bangko Sentral ng Pilipinas has reiterated the need for banks to step up their cyberdefenses and capabilities as more than $600 billion globally are lost to cybercrime annually.
BSP raises peso rediscount rates
by Lawrence Agcaoili - May 16, 2018 - 12:00am
The Bangko Sentral ng Pilipinas raised its rediscount rates on loans extended to local banks to finance the expansion needs of businesses and households after lifting its benchmark interest rates last week due to...
Philippine banks well-placed to meet higher capital requirement — Fitch
by Lawrence Agcaoili - May 15, 2018 - 12:00am
Fitch Ratings said Philippine banks are well-placed to meet the minimum leverage standards set by the Bangko Sentral ng Pilipinas (BSP) over the next two years
More foreign banks pick Philippines as hub for global operations
by Lawrence Agcaoili - May 15, 2018 - 12:00am
More foreign banks are trooping to the Philippines not only to put up branches or representative offices, but to transform the country as the hub for their global operations.
Inflation likely to peak toward end of 2018 — BSP
by Lawrence Agcaoili - May 15, 2018 - 12:00am
Inflation may remain elevated until toward the end of the year due to rising oil prices as well as the second round effects of the tax reform law, according to the Bangko Sentral ng Pilipinas.
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