Banking & Insurance
RCBC profit climbs on lending gains, lower costs
Rizal Commercial Banking Corp., the country’s sixth-largest lender by assets, opened 2026 with stronger earnings, posting an unaudited net profit of P2.7 billion for the first quarter, up 12 percent from a year earlier, as loan growth and lower funding costs lifted core income.
Philippines courts Japanese capital with banking alliance
The Philippines is sharpening its pitch for Japanese capital, formalizing a three-way partnership between the Board of Investments (BOI), Sumitomo Mitsui Banking Corp. (SMBC), and Rizal Commercial Banking Corp. (RCBC).
Union Bank tightens risk controls amid Middle East conflict
The Union Bank of the Philippines (UBP) is strengthening its financial safeguards as global uncertainty rises due to the ongoing Middle East conflict, a senior executive said.
BSP chief faces complaint over alleged bank data leak
The Bangko Sentral ng Pilipinas (BSP) said Monday it has taken note of reports about a complaint to be filed against BSP Governor Eli Remolona Jr., but noted that he has yet to receive a copy and will respond through the proper legal forum once it is served. The BSP also stressed that central bank and the Anti-Money Laundering Council (AMLC) will continue carrying out their mandates in accordance with the law, guided by independence, professionalism, and due process.
Union Bank core lending bolsters Q1 profit
Union Bank of the Philippines, the country’s 9th largest lender by assets, reported a sharp rebound in earnings for the first quarter, with net income more than doubling to P3.8 billion as core lending and digital-driven revenues offset market volatility.
