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AUTHORS
Lawrence Agcaoili
Lawrence Agcaoili
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BPI to borrow P100 billion through bonds, commercial paper issuance
by Lawrence Agcaoili - May 20, 2022 - 12:00am
Ayala-led Bank of the Philippine Islands plans to raise up to P100 billion through the issuance of peso-denominated bonds and commercial papers under a new borrowing program.
Earnings of Philippine banks up 26% to P66 billion in Q1
by Lawrence Agcaoili - May 20, 2022 - 12:00am
The earnings of banks operating in the Philippines increased by 26.3 percent to P66.34 billion in the first quarter from P52.52 billion in the same quarter last year, preliminary data from the Bangko Sentral ng Pilipinas...
Banks’ NPL ratio eases to 3-month low in March
by Lawrence Agcaoili - May 20, 2022 - 12:00am
The non-performing loan ratio of Philippine banks eased to a three-month low of 4.08 percent in March from 4.24 percent in February as soured loans slipped with the easing of COVID lockdowns, resulting in increased...
BSP hikes rates to 2.25% first time in 3 years
by Lawrence Agcaoili - May 20, 2022 - 12:00am
As widely expected, the Bangko Sentral ng Pilipinas delivered its first rate hike in more than three years by raising policy rates by 25 basis points, bringing the benchmark rate to 2.25 percent from an all-time...
BSP, banks ramp up digitalization with 3 e-payment streams
by Lawrence Agcaoili - May 19, 2022 - 12:00am
The Bangko Sentral ng Pilipinas and banks continue to ramp up initiatives with the launch of three electronic-payment streams, as part of efforts to shift half of total retail transactions in the country to digital...
Diokno hints at possibility of rate increase
by Lawrence Agcaoili - May 19, 2022 - 12:00am
The possibility of a rate hike for the first time in more than three years has increased as the space for accommodative monetary policy stance has narrowed significantly ahead of today’s rate setting meet...
Economists hike Philippine GDP growth forecast
by Lawrence Agcaoili - May 19, 2022 - 12:00am
Economists are now looking at a stronger economic growth for the Philippines after a faster-than-anticipated gross domestic product growth in the first quarter.
Bank of Commerce earnings hit P360.6 million  in Q1
by Lawrence Agcaoili - May 18, 2022 - 12:00am
The earnings of the banking unit of diversified conglomerate San Miguel Corp. more than doubled in the first quarter on the back of strong core business activities despite the continuing local and international...
RCBC SME loan portfolio to exceed P100 billion
by Lawrence Agcaoili - May 18, 2022 - 12:00am
Yuchengco-led Rizal Commercial Banking Corp. intends to grow its small and medium enterprises loan portfolio by nine percent to P101.5 billion this year from P93.4 billion last year, as the country continues to...
Foreign banks see BSP raising rates
by Lawrence Agcaoili - May 18, 2022 - 12:00am
Foreign banks are expecting the Bangko Sentral ng Pilipinas to start lifting interest rates tomorrow on the back of quickening inflation as well as the faster-than-anticipated gross domestic product growth in the...
Bayad partners with UBX
by Lawrence Agcaoili - May 17, 2022 - 12:00am
Bayad, the full service financial technology subsidiary of Manila Electric Co. (Meralco), has partnered with the open finance platform of the Aboitiz Group to beef up real-time bills payment solutions.
EastWest Bank profit drops to P507 million in 1st quarter
by Lawrence Agcaoili - May 17, 2022 - 12:00am
The earnings of Gotianun-led East West Banking Corp. declined by 75 percent to P507.6 million in the first quarter from P2.03 billion in the same period last year on the back of higher provision for potential loan...
Rate hike may dent demand, employment
by Lawrence Agcaoili - May 17, 2022 - 12:00am
The impending interest rate liftoff by the Bangko Sentral ng Pilipinas may dent demand and employment recovery, especially in the absence of fiscal support to cushion the economy from higher borrowing costs, according...
OFW remittances hit $8.65 billion in Q1
by Lawrence Agcaoili - May 17, 2022 - 12:00am
Remittances from overseas Filipino workers sustained their growth in March, expanding by more than two percent in the first quarter, and remained a bright spot for the Philippine economy, according to the Bangko...
Credit card rates still pegged at 2% per month
by Lawrence Agcaoili - May 16, 2022 - 12:00am
The Bangko Sentral ng Pilipinas is likely to keep the cap on credit card transactions at two percent per month or 24 percent per year amid the low-interest rate environment as the country continues to recover from...
BSP seen raising interest rates this week
by Lawrence Agcaoili - May 16, 2022 - 12:00am
More economists expect the interest rate liftoff by the Bangko Sentral ng Pilipinas to kick off this week after the economy delivered a solid gross domestic product growth performance in the first quarter.
BSP padlocks Bulacan bank
by Lawrence Agcaoili - May 15, 2022 - 12:00am
The Bangko Sentral ng Pilipinas has ordered the closure of Farmers Savings and Loan Bank Inc. based in Bulacan, bringing to six the number of problematic banks shuttered this year.
GDP growth to remain at 6.5% in 2022 – Citi
by Lawrence Agcaoili - May 15, 2022 - 12:00am
American banking giant Citi is still expecting some downside risks from higher commodity costs and global slowdown despite the stronger-than-expected 8.3 percent gross domestic product growth in the first quarter...
Big banks’ earnings rise 26.7% in Q1
by Lawrence Agcaoili - May 14, 2022 - 12:00am
The profit of universal and commercial banks operating in the Philippines went up by 26.7 percent to P61.38 billion in the first quarter   from P48.44 billion in the same quarter last year, according to ...
PNB profit jumps 57% in 3 months
by Lawrence Agcaoili - May 14, 2022 - 12:00am
Lucio Tan-owned Philippine National Bank posted a 57 percent jump in net income to P2.81 billion in the first quarter from P1.79 billion in the same period last year on improved net interest income and net reversals...
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