Banking & Insurance
Land Bank loan to rice farmers hit P2.2B
The Land Bank of the Philippines has released P2.2 billion worth of loans to 13,701 rice farmers and cooperatives under the Expanded Rice Credit Assistance program of the Rice Competitiveness Enhancement Fund (ERCA-RCEF).
Lucio Tan appointed chairman emeritus of PNB
Tycoon Lucio Tan has been appointed chairman emeritus of Philippine National Bank (PNB), while his wife, Carmen K. Tan, joins the lender's advisory board.
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.
