Philippines

Philippine banks expand lending by 12.2% in Dec 2024

Loans for production activities rose 10.8% during the month.

Fintech JuanHand disbursed $772m in over 20 million loans

The fintech’s average repeat rate is at 90%.

Fighting Back: How the Philippines is Addressing the Surge in Fraud

Institutions must adopt innovative solutions and foster global collaboration in fraud management practices.

Netbank partners with Jia Financing to offer SME loans

Jia will assign their invoice financing loans to Netbank.

BSP, Royal Canadian Mint ink MoU on currency management

It outlined key areas of cooperation including technology exchange.

BPI’s net income increases by 20% YoY to $1.06b

Revenue stood at $2.9b (PHP170.1b), up by 23%.

Philippine Crop Insurance to disburse farmer payments via GCash

Farmers no longer required to visit PCIC offices.

Chinabank’s head office now powered by renewable energy

The shift to RE in two facilities reduces the bank’s indirect GG emissions by almost 20%

Overseas Filipinos’ personal remittances up 3.5% in Nov 2024

Cumulative remittances are on track to rise by 3% for 2024.

GCash eyes easier payment checking for SMEs

The Philippines’ biggest fintech platform is targeting the retail sector.

Maya disbursed $1.16b in loans in 2024

It now holds almost $666.9m in deposit balances.

Philippine banks’ loans up 11.1% in Nov 2024

Loans to residents grew faster whilst loans to non-residents slowed.

Philippine digital lending may exceed $1b in H2 2025

Digital lenders may make up 55.2% of the market share, says Digido.

BDO names Jeffrey Alejandro as chief audit executive and IAG head

He worked for ING Bank NV and Citibank NA previously.