Banking & Insurance
Sumitomo Mitsui raises stake in RCBC for P6.4B
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has raised its stake in Rizal Commercial Banking Corp. (RCBC), acquiring an additional 4.46 percent equity interest worth P6.4 billion and boosting its total ownership to 24.46 percent.
BSP, regional peers reaffirm support for financial stability and integration
The Bangko Sentral ng Pilipinas (BSP) joined fellow members of the Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP) in reaffirming their commitment to strengthen financial integration, stability, and resilience in the region.
BSP assures fresh banknote supply for Christmas
The Bangko Sentral ng Pilipinas (BSP) on Monday reminded the public that exchanging worn or damaged banknotes at banks is free. It advised people to go only to BSP-authorized banks to avoid paying illegal service fees charged by some individuals or groups.
Insurer claims lead in PH life insurance market
Pru Life UK reported a new business annual premium equivalent (NBAPE) of ₱7.38 billion as of the third quarter of 2025, reinforcing its leadership position in the domestic life insurance industry, according to the Insurance Commission.
Vitarich clinches P400M Ondoy settlement
Vitarich Corp., a listed poultry company, has sealed a P400-million settlement with AXA Philippines Life and General Insurance Corporation, ending a 15-year legal battle over insurance claims tied to damages from Typhoon Ondoy in 2009.
