Philippines
Nine Philippine banks onboard electronic fund transfer system InstaPay
Around 18 more lenders are expected to use the platform by October.
Philippine banks tie up with Bank of China to launch peso-renminbi spot market
Individuals can soon change renminbi into peso and vice versa.
China Bank to open 10 more branches before year ends
The bank has reportedly set aside as much as $186,000 per branch.
Philippine banks explore blockchain for payment and remittance services
The central bank approved a pilot project creating a real-time remittance corridor.
Over three fourths of the Philippine population is unbanked
This translates to only 15.8 million Filipinos out of 103.3 million.
RCBC rolls out online FX trading facility
It’s said to be the first such platform in the Philippines.
Taiwan's Chang Hwa Bank opens Manila branch
The branch will be CHB’s 12th overseas foothold.
BPI revenues up 6.7% to $1.33b in Q4
Higher net interest income contributed to strong quarterly earnings.
Philippine banks embrace digitalisation to fuel expansion plans
Lenders are shunning inorganic growth via M&As.
Philippine bank lending surges 19.4% in May
Lending to wholesale and retail trade drove monthly loan growth.
RCBC refuses to settle with Bangladesh over $81m heist in 2016
Hackers channeled stolen funds from Bangladesh Bank’s account at the Fed to RCBC.
RCBC to roll out blockchain remittance service in Japan
The move aims to cater to the overseas Filipino workers in the country.
Bank of Fukuoka taps BDO Unibank as Philippine partner
The partnership aims to serve the needs of Japanese clients seeking business expansion.
E-wallets to snap up 6% of Philippine payments by 2022
However, the country is still miles behind China and India.
Weak payment culture raises credit risk of Philippine banks
The country’s financial resilience is also frail due to low-income levels.
Philippine bank lending surges 20% to $141.95b in April
Loans to wholesale and retail trade rose 22.7% to $19.43b.
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