Banking & Insurance

The Union Bank of the Philippines (UBP) is strengthening its financial safeguards as global uncertainty rises due to the ongoing Middle East conflict, a senior executive said.

The Bangko Sentral ng Pilipinas (BSP) said Monday it has taken note of reports about a complaint to be filed against BSP Governor Eli Remolona Jr., but noted that he has yet to receive a copy and will respond through the proper legal forum once it is served. The BSP also stressed that central bank and the Anti-Money Laundering Council (AMLC) will continue carrying out their mandates in accordance with the law, guided by independence, professionalism, and due process.

Union Bank of the Philippines, the country’s 9th largest lender by assets, reported a sharp rebound in earnings for the first quarter,  with net income more than doubling to P3.8 billion as core lending and digital-driven revenues offset market volatility.

The Philippine National Bank (PNB) reported a net income of ₱6.37 billion in the first quarter of 2026, up 5 percent from a year ago, driven by steady growth in its core businesses.

Lito Villanueva, executive vice president and chief innovations and Inclusion of Rizal Commercial Banking Corp., the country’s 6th largest lender by assets, called for stronger cross-industry collaboration and more adaptive regulation to accelerate digital banking across Asia.