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.
A private sector-led push to review the nearly two-decade-old Japan-Philippines Economic Partnership Agreement (JPEPA) is gaining momentum, as business leaders argue that evolving regional dynamics demand a refreshed approach to Philippine-Japan trade ties.
The Bangko Sentral ng Pilipinas (BSP) cut its key policy rate by 25 basis points on Thursday, signaling a shift toward supporting economic growth as inflation remains under control.
Proposed global tax reforms under the Organisation for Economic Co-operation and Development (OECD) could bolster fiscal sustainability, but Philippine industry leaders are urging policymakers to tread carefully to avoid undercutting demand and competitiveness.
The Department of Public Works and Highways (DPWH) will create a “green lane” to speed up the completion of major infrastructure projects by prioritizing qualified and legitimate contractors.