Banking & Insurance

Masato Kanda officially assumed the role of the 11th president of the Asian Development Bank (ADB) today, Monday, signaling a new phase in the institution's leadership. Kanda, who succeeds Masatsugu Asakawa, brings nearly four decades of experience in international finance and development policy, having previously served as Japan’s vice-minister of finance for international affairs. His leadership is expected to bolster ADB’s efforts to tackle pressing development challenges in Asia and the Pacific.

The Bangko Sentral ng Pilipinas (BSP) has celebrated the country's removal from the Financial Action Task Force’s (FATF) grey list, a significant milestone in the country’s financial reforms in combating money laundering and terrorism financing. The FATF’s recent statement confirms that the Philippines has addressed critical deficiencies in its anti-money laundering (AML) and counter-terrorism financing (CFT) framework.

The Bangko Sentral ng Pilipinas (BSP) has determined that the inflation and liquidity dynamics is such that the monetary board reduced the banks' reserve requirement ratios (RRRs) by 200 basis points (bps) beginning 28 March 2025.

EastWest Banking Corp. posted record-high net income of P7.6 billion for 2024, a 25 percent increase over the year prior.

Average rates of treasury bills rose at the auction held Monday, with the dealers of government securities driving up yields after the Bangko Sentral ng Pilipinas decided last week to hit the pause button on monetary policy easing.