Philippines

New CEO is current strategy consultant for the bank’s parent company Filinvest.

Filipino foreign workers can remit and send money to the Philippines at a lower cost.

GCash is king in the country.

He will take on the role of Chief People Officer.

However, a threat from the West makes it seem that the central bank may be overly confident.

Profits are expected to strengthen throughout the year as the economy recovers.

The bank’s non-performing loans ratio is expected to further decline in 2022.

The sandbox will evaluate CBDC use cases.

The bank hopes to cash in on the Philippines growing digital finance sector.

The banking regulator earlier warned the public of counterfeit notes from ATMs.

All accounts under UCPB will be transferred under Landbank.

The public is urged to examine banknotes carefully after using a machine.

The rate of their bad loans has hovered around 10% to 10.5%.

Any potential earnings boost remain uncertain; whilst reduced capital will take years to rebuild.

The figure is a slight improvement from October’s gross NPLs.

AUB PayMate merchants can now accept Mastercard payments through QR codes.