Banking & Insurance
Treasury bill yields mostly lower at auction
Average rates of Treasury bills (T-bills) were either steady or lower at the auction Monday, with strong demand and benign inflation expectation easing yields on longer-dated T-bills.
UnionBank 1Q net profit fall on one-off items; revenue up 8.4%
UnionBank of the Philippines reported P19.4 billion in revenue for the first quarter, an 8.4 percent year-on-year growth. The bank’s performance continues to be driven by a thriving consumer business, expanding net interest margin, and rising fee-based revenue.
CIMB resolves unauthorized transfers as BSP ensures oversight and consumer protection
CIMB Bank Philippines reported having fully resolved an incident involving unauthorized fund transfers that occurred on the night of 26 April, with all affected customers now reimbursed, the bank announced on Sunday.
GSIS surpasses insurance targets third time still
The Government Service Insurance System (GSIS) again exceeded its non-life insurance premium target, collecting ₱10.5 billion in 2024 against the goal of only ₱8.9 billion.
BSP expands FX hedging tools to boost capital markets
The Bangko Sentral ng Pilipinas (BSP) has approved sweeping reforms to foreign exchange (FX) regulations aimed at enhancing risk management options for market participants and supporting the development of the country’s capital market.
