Banking & Insurance
BSP optimistic about PH’s Grey List exit
The Bangko Sentral ng Pilipinas on Tuesday expressed optimism the Philippines could soon exit from the Financial Action Task Force’s grey list, following a recent statement from the international watchdog recognizing the country’s reforms in anti-money laundering and counter-terrorism financing initiatives.
Treasury bill rates up at Monday’s auction on inflation concern
The average rate on Treasury bills (T-bills) were higher at Monday’s auction, with strong demand amid concerns over inflation and rising tensions in the Middle East.
RCBC boosts presence abroad
Rizal Commercial Banking Corporation (RCBC) is intensifying its international expansion efforts to cater to the financial needs of overseas Filipino workers (OFWs) across the Asia Pacific, Europe, and North America.
BDO posts P60.6B net profit in 9 months
BDO Unibank Inc., the country’s largest lender controlled by the Sy Group, posted a 12 percent increase in net profit to P60.6 billion for the first nine months, attributed primarily to the sustained performance of its core intermediation and fee-based service businesses.
UnionBank reports 76% jump in 3Q net income to P3.5B
Union Bank of the Philippines, the country’s 9th largest lender, reported Monday that the third quarter net income reached P3.5 billion, reflecting a 76 percent increase compared to the same quarter last year and a 14 percent rise from the second quarter.
