Banking & Insurance
Court convicts owner of unregistered money changer
The Regional Trial Court of Mandaluyong City has convicted the owner and operator of Zhenrihada Money Changing Services for violating central bank regulations.
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).
