Banking & Insurance
CIMB resolves unauthorized transfers as BSP ensures oversight and consumer protection
CIMB Bank Philippines reported having fully resolved an incident involving unauthorized fund transfers that occurred on the night of 26 April, with all affected customers now reimbursed, the bank announced on Sunday.
GSIS surpasses insurance targets third time still
The Government Service Insurance System (GSIS) again exceeded its non-life insurance premium target, collecting ₱10.5 billion in 2024 against the goal of only ₱8.9 billion.
BSP expands FX hedging tools to boost capital markets
The Bangko Sentral ng Pilipinas (BSP) has approved sweeping reforms to foreign exchange (FX) regulations aimed at enhancing risk management options for market participants and supporting the development of the country’s capital market.
ADB mobilizes $39.2B in 2024 to boost growth and resilience in Asia-Pacific
The Asian Development Bank (ADB) committed a record USD39.2 billion in 2024 to tackle critical development challenges across Asia and the Pacific, underscoring its growing economic influence and strategic shift toward more impactful, resilient investments.
ADB mobilizes $39.2B to drive development
The Asian Development Bank (ADB) committed USD24.3 billion from its own resources in 2024, alongside USD14.9 billion in co-financing from global partners, to tackle the most pressing development challenges across Asia and the Pacific.
