Banking & Insurance
Treasury bill yields higher at auction as market awaits July inflation data
Treasury bill yields were slightly higher at the auction Monday as the market awaits July inflation data, which would provide an additional clue on whether the Bangko Sentral ng Pilipinas would finally cut interest rates next month.
Better interest margins lift Philippine National Bank net income to P10.3 Billion in 1H
The Philippine National Bank, the country’s 7th largest lender by assets, said Monday net income in the first half rose 5.6 percent to P10.3...
UnionBank 1H net profit drop to P5.07 billion on credit losses provision
Union Bank of the Philippines, the country's 9th largest lender by assets, said Monday net income in the first half dropped to P5.07 billion...
MVP unit acquires payment platforms
DigiCo, a digital company owned by the MVP Group, announced today its acquisition of a 10 percent stake in Bayad Center and 100 percent of Multipay Corporation as part of the strategy to accelerate the country’s shift towards digital payments.
Banks keep 2Q loan rates steady
The outcome of the Q2 2024 Senior Bank Loan Officers’ Survey (SLOS) show most banks keeping their credit standards unchanged for loans to businesses and consumers based on the modal approach. But the diffusion index (DI) method indicated a net tightening of credit standards for business loans and unchanged lending standards for household loans.
