Banking & Insurance

The Bangko Sentral ng Pilipinas (BSP) on Wednesday reaffirmed its commitment to maintaining price stability while fostering conditions for sustainable economic growth, navigating a challenging landscape marked by elevated inflation and cooling economic activity.

For a small-business owner trying to restock shelves, pay suppliers or seize a sudden sales opportunity, waiting weeks for a loan decision can mean missing the moment. Ginbee Go, incoming president and chief executive officer of Bank of the Philippine Islands (BPI), wants to make getting credit less of an exercise in patience.

Rizal Commercial Banking Corp., led by the Yuchengco group, reported Wednesday that its pre-provision operating profit climbed 13 percent year-on-year to P23.6 billion in the first nine months ending September, driven by healthier interest margins and steady core banking business. This key measure of underlying profitability shows how well the bank’s main operations are performing before setting aside funds to cover potential bad loans—a critical indicator for shareholders tracking long-term earning power.

Government employees and pensioners are reporting big savings on power bills—down from ₱5,000–₱7,000 to as low as ₱300—under GSIS’s Ginhawa Solar Energy Loan program. Launched in March 2026, the program has drawn 66,233 applications worth ₱19.81 billion. As of today, ₱10.12 billion has been disbursed, with ₱57.17 million more approved, bringing total granted funds to ₱10.18 billion. Another ₱87.37 million is currently being processed.

The Bangko Sentral ng Pilipinas (BSP) and GCash are urging financial institutions to shift their focus from simply opening accounts to helping Filipinos build savings, manage emergencies and gain access to insurance and investments.