Banking & Insurance
Remittances rise 3.2% in August
Cash remittances from overseas Filipinos (OFs) climbed by 3.2 percent year-on-year to US$2.98 billion in August 2025, up from US$2.89 billion in August 2024, providing a continued boost to the economy.
Biometric RBA fortifies lender’s mobile banking services
UnionDigital Bank, the digital subsidiary of UnionBank of the Philippines and regulated by the Bangko Sentral ng Pilipinas (BSP), has integrated iProov’s Dynamic and Express Liveness biometric solutions to strengthen its risk-based authentication (RBA) framework.
ADB greenlights USD400M push to reform insurance sector
The Asian Development Bank (ADB) has approved a USD400 million policy-based loan to overhaul the Philippines’ insurance sector, with the goal of improving efficiency, encouraging broader participation, and fueling stronger economic growth.
IMF lowers global growth outlook as uncertainty mounts
The International Monetary Fund (IMF) has revised down its global growth forecasts in its October 2025 World Economic Outlook (WEO), reflecting the growing impact of trade protectionism, policy uncertainty, and weakening fundamentals across major economies. Global GDP growth is now expected to slow from 3.3 percent in 2024 to 3.2 percent in 2025, and further to 3.1 percent in 2026—a cumulative 0.2 percentage point drop from earlier pre-policy shift projections.
UAE delegation visits BSP under knowledge exchange program
A high-level delegation from the United Arab Emirates (UAE) visited the Bangko Sentral ng Pilipinas (BSP) as part of the "Philippine Government Experience Exchange Retreat" held recently.
