Banking & Insurance
As China woes mount, investment banks brace for more Asia job cuts
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.
Consumer purchases, real estate loans help push bank lending 7 percent higher in December
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, Mastercard launch debit card that simplifies financial management and transactions
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.
GSIS non-life insurance premiums reach P9.8 B in 2023
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.
GSIS readies P44 M for calamity-hit members, pensioners in Camarines Norte
The Government Service Insurance System (GSIS) has made available P44 million as emergency loan package for members and pensioners of Mercedes and Vinzons in Camarines Norte affected by heavy rainfall.
