Philippines

The Development Bank of the Philippines has received government approval to sell its 99.88% stake in the Philippines’ only Islamic bank.

But on what grounds?

Philippine banks are now forced to submit a quarterly expanded report on real estate exposure from 30 January 2013.

The central bank of the Philippines lent R117 billion to the government and banks as of end-April, up 11.4 percent year-on-year.

The Bangko Sentral ng Pilipinas has revised its rules and allowed more incentives on banks’ mergers and consolidations.

BDO  is not in a rush to tap fresh capital for its lending business, since it has adequate funds.

Outstanding loans of Philippine commercial banks slowed to 14 percent in August from 16 percent in July.

The Asian Development Bank has signed an agreement that will expedite the adoption of Islamic banking across Asia.

Real innovation is happening in most markets. Unfortunately often the development is in a vacuum.

Gil Buenaventura was sworn in as President and CEO of state-owned Development Bank of the Philippines this week.

Here's what to expect from the agreement.

Philippine banks will pool up to US$1 billion to finance projects under the public private partnership initiative of the government.

The average NPL ratio of the 38 Philippine universal/commercial banks went down to 2.18% in July from 2.45% a year earlier.

Loans given by Philippine banks’ foreign currency deposit units increased 23 percent year-on-year to $7.768 billion as of end-June.

Philippine National Bank's merger with Allied Banking Corporation has been approved by the Philippine Deposit Insurance Corp. and Bangko Sentral ng Pilipinas.

Philippine National Bank’s net profit grew by 144% to P1.77 billion in the first six months fromthe same period last year.