Banking & Insurance
Unlicensed preneed and insurance firms earn IC ire for unauthorized products
The Insurance Commission (IC) recently issued cease and desist orders (CDOs) against entities found to have conducted business without the necessary license.
One of the...
BSP offering Tagbilaran City with digital currency and sweep it clean of torn, tattered peso bills
The Bangko Sentral ng Pilipinas (BSP) Visayas Regional Office (VRO) offered currency exchange services in Tagbilaran City to encourage the public to replace their unfit banknotes...
Philippine Business Bank Completes P1.25B Private Placement, Gears Up For P500M Rights Offer
Philippine Business Bank said on Friday that the subscription to 125 million shares that were privately placed last year with the bank’s principal shareholders have been completed, setting up the second part of a plan to raise its authorized capital by P1.75 billion and increase lending activity.
Inappropriate use of bank funds gets Leyte rural banker up to 20 years in jail
The Regional Trial Court of Burauen, Leyte (RTC-Burauen) has convicted a former officer of the now-closed Rural Bank of Burauen (Leyte), Inc. for violating the Bangko Sentral ng Pilipinas’ (BSP) Manual of Regulations for Banks (MORB) and appropriate legislation.
Second-order inflation fears grip Bangko Sentral ng Pilipinas the most
Of all the threats to the stability of the price of services and goods in the economy, nothing grips the regulator, the Bangko Sentral...
