China’s central bank PBOC warns against yuan speculation
The Chinese yuan weakened past the intently-viewed 7.2 level towards the greenback this week. Getty Photographs BEIJING — The People’s Lender of China has warned in opposition to betting on…
PH to get $1.9B in new loans from World Bank
The World Bank will approve financing for another $1.9 billion in projects in the Philippines before yearend to help the economy recover from the COVID-19-induced recession, the Department of Finance…
Security Bank profit up 14% despite larger bad loan buffer
Security Bank Corp. remained profitable through the first semester, despite the unfolding health crisis and significantly higher provisioning for potential business losses. Security Bank said in a stock exchange filing…
China Bank bucks downtrend, posts 27% profit growth in Q2
SM group-led China Banking Corp. grew its second quarter net profit by 27 percent year-on-year to P3 billion, bucking the downturn seen by other banking peers amid constraints arising from…
$1B in new World Bank loans to PH up for OK in Sept
The World Bank will extend three more loans worth about $1 billion to the Philippines by September to help in COVID-19 response and recovery efforts, the Department of Finance (DOF)…
Security Bank raises P13.5B from red hot 2-year bonds
Lender Security Bank has raised P13.5 billion from an issuance of two-year bonds, which were warmly received by the cash-awash local financial market. The offering was upsized from the base…
In another legal win for BSP, ex-owner of shuttered Laguna rural bank convicted of fraud
The central bank has scored another legal victory against erring bank officials after a court last month found the former owner of a shuttered Laguna-based rural bank guilty of fraud.…
Gov’t guarantees P37.5B in bank loans to SMEs
In its bid to make available loans to small businesses badly hit by the COVID-19 crisis, the state-run Philippine Guarantee Corp. (Philguarantee) has green-lit P37.5 billion in credit guarantees as…
COVID-19 has increased responsibility of central banks to maintain stability, says Bank of Thailand governor
Bank of Thailand (BOT) Governor Veerathai Santiprabhob. The Nation/Asia News Network BANGKOK — The central bank has three missions in the aftermath of the Covid-19 pandemic, says Bank of Thailand…
Asian stocks follow Wall Street higher on bank news
BEIJING — Asian stock markets followed Wall Street higher on Friday after U.S. regulators removed some limits on banks’ ability to make investments. Currency traders watch monitors at the foreign…