Banking & Insurance
Second-quarter BOP reverses to a surplus
The country’s balance of payments (BOP) position posted a surplus of USD1.2 billion in the second quarter this year, a turnaround from a deficit of USD1.2 billion in Q2 2023. The reversal, the Bangko Sentral ng Pilipinas said, was due to significantly higher net inflows posted in the financial account, notwithstanding the increase in the current account deficit.
Gotyme partners with BSP’s coin deposit program
GoTyme Bank on Wednesday joined hands with the Bangko Sentral ng Pilipinas in allowing its customers to deposit their coins and turn them into high-interest savings.
T-bill yields decline on slower August inflation
Treasury bill yields were lower at Monday’s auction, dragged down by lower headline inflation in August that raised the possibility of further monetary policy easing by the central bank, the Bangko Sentral ng Pilipinas.
BPI Wealth’s digital accounts reach P1 Billion in assets under management
BPI Wealth, the wealth management arm of the Ayala-led Bank of the Philippine Islands (BPI), said its digital accounts surpassed P1 billion in assets under management (AUM) as of June 2024. This includes investments in unit investment trust funds (UITFs) and mutual funds, custody, and segregated portfolios opened and transacted online through its digital investment account opening platform, e-Invest by BPI Wealth.
Inflation-hit IDC secures P630 million loan from BPI
IDC Prime Inc., majority owned by boutique property developer Italpinas Development Corp., has secured a P630-million loan from the Bank of the Philippine Islands.
