Banking & Insurance
Loans, liquidity levels moderately grew in July
The country's big commercial and universal banks extended loans just shy of P11 trillion in July this year, marginally lower than the previous June when these same loans aggregated P10.985 trillion, according to the Bangko Sentral ng Pilipinas (BSP).
Rural lenders report growth amid challenges both domestic and external
The 54-member Chamber of Thrift Banks (CTB) on Friday reported that its roster accumulated assets collectively worth P943 billion as of end-May this year, a 5.3 percent increase from only P895 billion a year ago.
Senior BSP officials quips about lack of wifi connection in places across the country
The monetary authorities on Friday acknowledged the problematic state of financial inclusion in islands across the country that do not have a reliable connection to the internet and how this impacts on the broad goal of onboarding Filipinos to the government's digital transformation program.
Global network for financial inclusion issues “Manila Manifesto”
The 2023 Alliance for Financial Inclusion (AFI) Global Policy Forum issued last week the ‘Manila Manifesto’ which calls for boosting ties with global financial standard-setting bodies to make financial products and services accessible, safe, and affordable for all.
BSP keeps policy rate steady but signals prompt hike if warranted
The Bangko Sentral ng Pilipinas kept the rate at which it borrows from and lends to banks unchanged on Thursday at 6.25 percent but made it perfectly clear the policy-making monetary board will act as quickly as at its next rate-setting meeting in November and raise the polic ratey should this be warranted.
