The Bangko Sentral ng Pilipinas (BSP) has adjusted rules raising the maximum repayment period for salary-based general purpose consumption loans (SBGPCLs) from the standard three years — extendable only to five years in special cases — to seven years.
The Bangko Sentral ng Pilipinas (BSP) has praised the Department of Labor and Employment (DOLE) for its efforts to promote financial planning, savings, microinsurance, and the Personal Equity and Retirement Account (PERA) among private-sector employers and workers.
Ayala-led Bank of the Philippine Islands (BPI)’s wealth management arm, BPI Wealth, has introduced peso-denominated share classes for two of its established global investment funds. This development removes the need for investors to hold foreign currency to access international markets, making global investing more accessible to Filipino investors.
China Bank Savings (CBS), the retail lending subsidiary of China Banking Corp., is adjusting its strategy to focus on asset preservation and enhanced risk management amid ongoing geopolitical tensions in the Middle East and domestic political uncertainties.