Philippines
Philippine neobank Zed offers credit card with no interest and no annual fees
Philippine neobank Zed offers credit card with no interest and no annual fees
It has reportedly received 25,000 sign-ups within three weeks.
BDO reports 28% higher net income of $1.32b in 2023
Consumer loans and deposits both rose during the period.
Philippine central bank denies issuing directive re “stamped” US dollar notes
It reminded the public to remain vigilant against bogus information.
Philippine bank lending up 7.8% in January: central bank
Salary-based loans and motor vehicle loans pushed consumer loans to a 25.2% growth.
Digido has served 1 million customers
Over 3 in 4 of the loans disbursed in 2023 were from repeat customers.
BSP okays adoption of sustainable finance taxonomy guidelines
It has a “traffic light system” in classifying if finance activities are SFTG-aligned.
PH’s Security Bank digitising its wealth management platform
The bank has partnered with Avaloq to automate and standardize the WM workflows.
Fintech UNOAsia raises $32.1m in pre-series B round
It will support efforts to scale up UNO Digital Bank in the Philippines.
BPI, Helios roll out solar mortgage program in the Philippines
It has a 7% interest rate and has already onboarded 100 new homeowners.
German, Philippine central banks ink MOU for personnel training
Deutsche Bundesbank will carry out training services and advisory assistance for BSP personnel.
SG AI fintechs score funding wins amidst fintech investment downturn
This bucked the global trend, where AI fintechs overall clinched less investments.
PH central bank optimistic it’ll achieve digital payment targets
The country aimed to have 50% of all retail payments be digital by end-2023.
PH bank AUB takes e-wallet overseas with Alipay+ partnership
HelloMoney users can now pay via QR code in South Korea, Malaysia, and Hong Kong.
BPI Debit Mastercard to undergo maintenance on 4 Feb
ATM, e-commerce, and POS transactions will be unavailable from 12AM to 12NN.
Higher loan demand, low credit losses spell better year for PH banks
Philippines’ digital banks will continue to make losses due to weak asset quality.
Majority of Philippine banks to maintain lending standards in Q1: survey
Banks maintained their credit standards for households, corporates in Q4.
SMBC, RCBC ink MOU to promote foreign direct investments to the Philippines
They do this alongside the Philippine Economic Zone Authority.
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