Banking & Insurance
FC partners with consumer fintech Salmon to drive financial inclusion in the Philippines
The International Finance Corporation (IFC), the private investment arm of the World Bank Group, is investing USD7 million in Salmon Group Ltd. (“Salmon”), an innovative consumer fintech focusing on providing short-term credit to consumers underserved by traditional banks to help expand financial inclusion in the Philippines.
Sun Life Grepa posts 17% rise in total premium income
Sun Life Grepa Financial Inc., a joint venture between Sun Life Philippines and the Yuchengco Group of Companies, on Thursday reported posting a 17 percent increase in total premium income to P13.5 billion in 2023 from P11.5 billion in 2022.
Tala Financing secures P2.75 loan from Maya Bank
The fintech firm Tala Financing Philippines Inc. has obtained a P2.75 billion loan from Maya Bank Inc. for lending to clients who are mostly micro loan borrowers.
Higher-for-longer interest rates seen hurting Manila output growth expansion this year
The country' local output expansion, measured as the gross domestic product (GDP), is forecast to accelerate to 5.9 percent this year from last year's 5.6 percent, the sovereign credit watcher Standard and Poor's said in commentaries published at its website.
RCBC partners with Japan fintech and remittance company Digital Wallet
The Rizal Commercial Banking Corp. (RCBC) has partnered with the Japanese IT and fintech company, Digital Wallet Corporation (DWC), to enhance the facilitation of cross-border digital transactions between Philippines and Japan.
