Banking & Insurance
BPI saves P105M as SEC lowers penalty
Ayala-led Bank of the Philippine Islands (BPI) saved almost P105 million in penalties as the Securities and Exchange Commission (SEC) lowered its fine for its failure to secure regulatory confirmation for its stock purchase and option plan.
E-money issuers have 1 year to comply with capital, liquidity threshold
Electronic money issuers (EMIs) are now required to comply with minimum capital and liquidity requirements amid the rising incidence of information technology-related risks and to better protect the interests of account holders, according to the Bangko Sentral ng Pilipinas (BSP).
LandBank, Pryce Corp. ink P1-B loan agreement
State-run Land Bank of the Philippines and Pryce Corp. have inked a P1.6-billion loan agreement to fund the expansion of the firm’s operations in real estate development and liquefied petroleum gas (LPG) distribution.
Metrobank extends P20.5B loan to Aboitiz-owned firms
Ty-led Metropolitan Bank & Trust Co. (Metrobank) has extended P20.5 billion in loans to two strategic business units of Aboitiz Equity Ventures (AEV).
Partners introduce “insure now, pay later” scheme
UBX, the fintech arm of Aboitiz-led Union Bank of the Philippines, has partnered with Etiqa Philippines to introduce an “Insure now, Pay later” scheme in the Philippines.
