BSP reminds banks: No interest on unpaid interest during lockdown
The central bank on Thursday (May 21) reminded lending institutions that they were prohibited from charging interest on interest, fees and charges — such as late payment fees — on…
EastWest Bank’s Q1 profit up 75%, loan provisioning jacked up
East West Bank vice chair and CEO Antonio Moncupa Gotianun family-led East West Bank grew its net profit in the first quarter by 75 percent year-on-year to P2.3 billion even…
Security Bank’s Q1 profit up 21%
Security Bank Corp. grew its net profit in the first quarter by 21 percent year-on-year to P2.9 billion on higher interest earnings and securities trading gains. The bank aside P5.7…
Asia shares mixed, eyeing economies reopening, central banks
TOKYO — Asian shares are mixed Tuesday as governments inch toward letting businesses reopen and central banks step in to provide cash to economies. FILE – In this Feb. 27,…
PH banks now free to assume more dollar risk
The central bank has eased a rule that previously required financial institutions to hold a 100-percent buffer of assets for their foreign currency liabilities on a daily basis, saying that…
PH banks free to assume more dollar risk under new BSP rules
The central bank has eased a rule that had required financial institutions to keep a 100-percent buffer of assets for their foreign currency liabilities on a daily basis, saying that…
DOF backs 2 state-run banks as lending conduits in post-coronavirus stimulus package
The Department of Finance (DOF) is supporting the pitch of state-run lenders Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) to serve as the government’s…
Banks warn public vs online scammers
As more people switch to online banking channels during the COVID-19 pandemic-induced lockdown of key cities, cyberspace has become a fertile ground for scammers who are becoming more and more…
Banks OK 30-day loan payment moratorium
The Bankers Association of the Philippines (BAP) has committed to enforce Republic Act No. 11469, or the Bayanihan to Heal As One Act, which, among others, mandates a nationwide 30-day…
Banks appeal to public for patience, understanding
The banking community appealed to the public to bear with limited services at this time that financial institutions are themselves operating under a challenging environment with only a skeleton workforce.…