Banking & Insurance
MVP unit acquires payment platforms
DigiCo, a digital company owned by the MVP Group, announced today its acquisition of a 10 percent stake in Bayad Center and 100 percent of Multipay Corporation as part of the strategy to accelerate the country’s shift towards digital payments.
Banks keep 2Q loan rates steady
The outcome of the Q2 2024 Senior Bank Loan Officers’ Survey (SLOS) show most banks keeping their credit standards unchanged for loans to businesses and consumers based on the modal approach. But the diffusion index (DI) method indicated a net tightening of credit standards for business loans and unchanged lending standards for household loans.
Insurance firm estimates CrowdStrike glitch affected quarter of Fortune 500 firms, losses at USD5.4 billion
The global outage caused by a software update of cybersecurity company CrowdStrike affected a quarter of Fortune 500 companies and likely resulted in losses, excluding Microsoft, of around USD5.4 billion, insurance firm Parametrix had estimated.
GCash extends six-day grace period for micro loan clients
GCash credit arm Fuse Lending has announced a two-week payment grace period for GLoan and GGives borrowers affected by Typhoon Carina.
BDO raises P55.7 billion from ASEAN Sustainability Bond issuance
BDO Unibank Inc., the country’s largest lender by assets, said Thursday it raised P55.7 billion in fresh funds from the sale of peso-denominated ASEAN Sustainability Bonds.
