Philippines
Taiwan's Chang Hwa Bank opens Manila branch
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.
Philippine banks link up to pilot blockchain for retail payments
A major lender is connecting with rural banks in the Southern area of the country.
The Philippines cuts bank reserve requirement ratio to 18%
However, the country still has one of the highest RRR levels in Asia.
Philippine bank assets up 11.31% to $300.3b in Q1
Stable savings and demand deposits buoyed healthy capitalisation levels.
Philippine banks profits up 17.8% in Q1
Higher earnings from trading buoyed non interest income to $691.53m.
Citi to co-finance trade in developing markets with Asian Development Bank
The two lenders can share risk on a funded basis.
Higher interest expenses curbed BPI's growth in Q1
Net interest income fell from 13% to 9%.
UnionBank of the Philippines taps on FIS to digitise commercial lending arm
FIS will also enhance third-party data analytics through open API usage.
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