Banking & Insurance

The Bank of Japan should consider ending its yield curve control and massive asset purchases now, then gradually raise short-term interest rates, the IMF said on Friday, as markets ramp up bets on a near-term turn in the central bank's ultra-easy policy.

Job cuts at western investment banks in Asia are expected to increase this year as revenue pressures rise due to deepening economic and market turmoil in China, even as deal prospects brighten in Japan and India, headhunters and bankers said.

The outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas, grew by 7 percent year-on-year in December 2023, the same rate of increase a month prior. On a month-on-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs, increased by 0.3 percent.

OwnBank, a digital-only bank, teams up with Mastercard to serve customers with enhanced banking convenience, more rewarding card offers, and secure digital transactions. The partnership aims to foster financial inclusion and poised to introduce new and sophisticated solutions that empower individuals and businesses across the country. 

The Government Service Insurance System reported P9.8 billion in gross premiums written (GPW) by its non-life insurance business in 2023, a record high in the history of the GSIS.