BDO Unibank, Bank of the Philippine Islands, and Metropolitan Bank & Trust Co.—the largest, second and fourth largest lenders by assets, according to a central bank report—also reported improvements in their nonperforming loan ratios on the growth of the loan portfolio and the steady or lower nonperforming loans.
Financial institutions in the Philippines may soon gain deeper insights into consumer financial behavior after TransUnion Philippines partnered with Mastercard to combine data and analytics capabilities aimed at widening access to credit.
A Philippine food manufacturer has begun using renewable energy at its production facility in Cebu as part of efforts to improve efficiency and support cleaner operations.
The Bureau of Customs (BOC) has rolled out a fully automated Electronic Certificate of Payment (e-CP) System aimed at simplifying compliance and accelerating the processing of motor vehicle imports, a move welcomed by major industry groups that rely heavily on predictable customs procedures.
Farmers in Negros Oriental are getting quicker access to government-backed farm loans with the rollout of a new digital system designed to simplify applications and approvals.