Philippines

ING pulls back from the Philippine retail banking market

Over 380,000 clients are expected to be affected once they leave the market by end of the year.
4 days ago

ING pulls back from the Philippine retail banking market

Over 380,000 clients are expected to be affected once they leave the market by end of the year.
4 days ago

EastWest Bank to appoint new CEO, President

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

Philippine-based Netbank launches all-in-one financial app for overseas workers

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

Tonik hires former Google and Facebook exec

He will take on the role of Chief People Officer.

Wait and see tactics: PH central bank holds off on tightening monetary policies

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

Philippine banks’ credit costs to further decline in 2022

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

Bank of the Philippine Islands’ asset quality is on the path for improvement: S&P

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

UnionBank joins sandbox for digital currency use

The sandbox will evaluate CBDC use cases.

Mizuho Bank to invest $61m in Philippine digital bank operator Tonik Financial

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

Philippines’ BSP announces countermeasures against fake banknotes from ATMs

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

Merger of Philippine banks Landbank, UCPB to take effect on March

All accounts under UCPB will be transferred under Landbank.

Philippines' central bank warns public of fake banknotes from ATMs

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

Bad loans of Philippine alternative lenders to decrease in 2022: study

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

Union Bank’s capital buffers to weaken following Citi purchase: analyst

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

Philippine banks’ bad loans total $9.41b in November 2021

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

AUB launches Mastercard QR card payment solutions in the Philippines

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