Banking & Insurance

The Bangko Sentral ng Pilipinas (BSP) has welcomed the decision by several banks to reduce or remove fees for interbank digital transfers, making electronic fund transfers more affordable and easier to use for Filipinos.

Canadian enterprise software firm OpenText is expanding its Philippine footprint with a proposed USD8 million to USD10 million cloud transformation project for BDO Unibank over the next five years, signaling growing investor confidence in the country's digital economy and accelerating shift toward higher-value technology investments.

While slowing oil and food prices recently cooled headline inflation in the Philippines, persistent domestic threats and rising core inflation are keeping policymakers on high alert, signaling that further interest rate hikes may be necessary to protect long-term economic growth, according to data analysis by the Bank of the Philippine Islands.

Rizal Commercial Banking Corp. (RCBC) is urging Philippine businesses to stay on guard against trade and foreign exchange risks, warning that months of geopolitical disruptions will continue to weigh on cash flows and profitability even as global oil prices retreat and key shipping routes reopen.

The Bangko Sentral ng Pilipinas (BSP) said the country's gross international reserves (GIR) remained robust at USD104.8 billion as of end-June 2026, providing a solid financial buffer despite easing from USD110.8 billion at the close of 2025. The central bank said the reserve level remains more than sufficient to support the economy against external shocks while ensuring the country's ability to meet import requirements and service foreign debt obligations.