Philippines

The financial stability council also warned of geopolitical risks.

The Philippine-based digital bank promises interest rates between 3% to 3.5%.

It will help make the financial system more resilient, the BSP Governor said.

Users can receive and spend money internationally and create up to 3 cards.

The app features personalised widgets and customisable features.

Both lending and investing activity grew during the period.

BillEase customers can now pay at over 600,000 QRPh-accepting merchants.

The officer was an employee of the now closed Ruran Bank of Buguias (Benguet).

An estimated 3 in 4 banks maintained credit standards for housing loans.

BillEase has achieved profitability in 2023 and delivered 47% return on equity.

The soon-to-be-launched card will underwrite based on present and future income, not just past financial records.

Money changer NIKKO reportedly committed “serious violations” of money laundering laws.

It has less buffers for loan losses than lower-rated banking peers, Moody’s Ratings warned.

Liquidity is expected to decline as it accelerates lending in 2024.

A total of $2.65b in remittances coursed through banks, the central bank said.   Personal remittances from Overseas Filipinos (OFs) grew by 3% to $2.95b in February, according to central bank data.

Foreign investments can now be registered upon registering at any authorized agent bank.