Banking & Insurance
President appoints banker Walter Wassmer to MB
President Ferdinand R. Marcos, Jr. has appointed veteran banker Walter C. Wassmer as a member of the Bangko Sentral ng Pilipinas’ (BSP) Monetary Board (MB).
Four-month FDI rises 19% to $3.53 B
The country's foreign direct investments (FDI) in the first four months improved 18.7 percent to USD3.525 billion from only USD3.0 billion a year ago.
Asialink secures funds from Korea’s Hana Bank
Asialink Finance Corp. has secured a P125 million credit line from KEB Hana Bank Global to shore up its lending resources for the Philippines’ small-scale businesses. This is Asialink’s first financial tie-up with a Korean bank.
Strong demand allows BTr to raise P40 billion
Strong demand at the auction Tuesday set a lower interest rate on the treasury bond due 2031 compared to the level at the secondary market.
5% of GCash users own a bank account
One in four bank account holders in the Philippines have an account under GSave, the innovative, in-app savings feature of GCash.
