Banking & Insurance
Christmas spending helps push RCBC Credit Card receivables 48% higher to P74 billion
The credit card unit of the Rizal Commercial Banking Corp. (RCBC) on Friday reported a 48 percent surge in credit card receivables in December last year totaling P74.7 billion.
Sy Group keeps 60% of BDO, foreign investors hold 25.18%
BDO Unibank Inc. reported Friday that foreign ownership in the country’s largest lender by assets stood at 25.18 percent at the end of 2023, leaving the balance in the hands of Filipino investors, primarily the Sy Group.
IMF says ‘not yet there’ on need for systemic approach to high debt
The International Monetary Fund still favors a case-by-case approach to dealing with sovereign debt issues, but is closely monitoring developments to ensure it is prepared if a more systemic approach is needed, a top official said on Thursday.
Portfolio funds aggregating $13.13 billion fled the country in 2023
Speculative investments that flowed inward on net basis in 2022 reverted to a net outflow last year when interest-sapping high inflation helped make the Philippines one of the more costly places to make an investment in 2023.
Government seeks P45 billion from treasury auctions next week
The Bureau of the Treasury is looking to raise another P45 billion next week through the auction of treasury bills and bonds to support the government’s spending plans this year.
