Banking & Insurance
Bayad, RCBC renew digital financial services pact
CIS Bayad Center, Inc. (Bayad), a pioneer in the outsourced payment collection systems in the country, has renewed its partnership with Rizal Commercial Banking Corporation (RCBC), enabling inclusive financial services through RCBC Diskartech and RCBC ATM Go.
CitySavings bares P100-B loan portfolio as continuing nod to financial inclusion
City Savings Bank, Inc. (CitySavings), the thrift bank arm of the UnionBank of the Philippines (UnionBank), on Tuesday bared the deployment of P100 billion to meet the loan requirement of its clients.
GSIS opens loan restructuring, condonation for delinquent borrowers
State pension fund Government Service Insurance System (GSIS) has relaunched a condonation and restructuring program with longer and affordable payment terms to benefit former members, old-age pensioners, re-employed members, and other borrowers with overdue loans.
BPI starts Tuesday sale of 6.425%P5B, 1.5-year peso, fixed-rate bond
The Bank of the Philippine Islands said Tuesday it has set the coupon rate of its 1.5-year peso fixed-rate bonds due 2025 at 6.425 percent. The bond has an aggregate principal amount of P5 billion, with option to upsize if warranted by demand.
Remittances hit $3.1B in August
The personal remittances of overseas Filipinos (OFs), a potent source of foreign exchange for the Philippines, increased by 2.8 percent to reach $3.10 billion in August 2023 from only $3.02 billion in the same month last year, the Bangko Sentral ng Pilipinas (BSP) said on Monday.
