Banking & Insurance
Growth hits post-2009 low on surging energy costs and weak infrastructure spending
Growth measured as the gross domestic product (GDP) is seen to have slowed sharply to 1.9 percent year-on-year in the second quarter of 2026, down from 2.8 percent in the previous quarter, according to the Bank of the Philippine Islands (BPI).
BSP clarifies Circular 1238: Fair pricing guideline, not zero-fee rule
FinTech Alliance PH has welcomed clarification from the Bangko Sentral ng Pilipinas (BSP) regarding Circular No. 1238, saying the update brings much-needed regulatory certainty to the digital financial services sector and aligns with shared goals of making digital payments affordable, secure, and sustainable. Following productive talks between BSP Monetary Board members and alliance representatives, the central bank confirmed the circular sets out cost-based fair pricing guidelines and does not impose a requirement to scrap all fees. The BSP made clear that financial institutions and payment service providers are not required to remove electronic fund transfer fees entirely, nor are off-network person-to-person transfer charges limited strictly to technical switch costs. It also noted that Frequently Asked Question No. 7 should not be treated as a rigid rule allowing only switch-cost pricing.
GSIS net income jumps 28%, gains go straight to members
The Government Service Insurance System (GSIS) earned P94.75 billion in the first half of 2026—up nearly 28 percent year-on-year—with total assets rising to P2.05 trillion. Operating costs stayed very low, so 94 centavos of every peso spent went directly to benefits and claims.
Central bank projects inflation no higher than 6.6% in July
The Bangko Sentral ng Pilipinas projects inflation will fall between 5.6 percent and 6.6 percent. The range reflects competing forces shaping the economy.
Metrobank holds steady at P24.9 billion first-half 2026 income despite challenges
Metropolitan Bank & Trust Co., or Metrobank, reported a steady net income of P24.9 billion for the first half of 2026, delivering stable earnings even as the broader business environment remained difficult for the banking sector.
