Banking & Insurance

Yuchengco-led Rizal Commercial Banking Corp. has launched an auto loan product that extends to borrowers a lower, more affordable monthly amortization and more flexible payment terms for the privilege.

Manulife Financial Corp., the local arm of insurer The Manufacturers Life Insurance Co., has appointed Rachel Marie Vizcarra as its new chief operations officer. Vizcarra has over 25 years of experience in the insurance industry, particularly in operations and business transformation.

Finance Secretary Ralph G. Recto on Tuesday lauded President Ferdinand R. Marcos, Jr.’s decision to ban the operations of the Philippine offshore gaming operators (POGOs) in the country effective 22 July 2024, and committed to assist the displaced Filipino workers with safety nets to ensure that they can have replacement jobs as soon as possible.

GoTyme Bank, a joint venture between the Gokongwei family and South Africa’s Tyme Group, projects hitting the 5 million depositor mark by year's end and claims the distinction as the country’s fastest growing bank.

Average rates of treasury bills rose marginally at the auction Monday, correcting from recent softening on expectations the Bangko Sentral ng Pilipinas will soon ease monetary policy settings.