Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
211 articles from BusinessWorld Banking
Peso climbs on Hormuz reopening hopes, BSP bets
THE PESO strengthened on Wednesday as market sentiment improved amid news on the possible reopening of the Strait of Hormuz that brought down global oil prices, and ahead of the Bangko Sentral ng Pilipinas’ (BSP) policy review. The local unit climbed by 8.8 centavos to close at P61.65 per dollar on Wednesday from its P61.738 […]
Read more →Nonlife companies’ combined premiums, profit climb in 1st half
NONLIFE INSURERS recorded higher premiums and net income in the first half, Insurance Commission (IC) data showed. Combined premiums earned by the nonlife industry rose by 13.29% year on year to P42.54 billion for the first six months from P37.55 billion, the IC said on Wednesday. Total net premiums written increased by 9.96% to P44.19 […]
Read more →SAFC taps EastWest Bank to expand payment options
SOUTH Asialink Financing Corp. (SAFC) has partnered with East West Banking Corp. (EastWest Bank) to expand payment options for its clients. Under the partnership, SAFC clients can now settle their payments through EastWest Online or over the counter at 392 of its branches nationwide. EastWest Bank’s Bills Collect facility will accept cash and check payments […]
Read more →BTr partially awards short-term bills as yields rise on hike bets
THE GOVERNMENT made a partial award of the short-term securities it offered on Monday as yields mostly climbed before an expected rate hike by the Bangko Sentral ng Pilipinas (BSP) this week, and with players looking for duration for higher returns. The Bureau of the Treasury (BTr) raised a combined P57.665 billion from its offering […]
Read more →PHL life insurance industry books higher premium income as of June
THE PHILIPPINE life insurance industry recorded a 17.91% increase in premium income for the first half of the year, driven mainly by variable life products. The sector’s combined premium income went up to P229.98 billion as of end-June, up from P195.05 billion a year ago, the Insurance Commission (IC) said in a statement on Monday. […]
Read more →BSP to help rural banks upgrade their systems
THE BANGKO SENTRAL ng Pilipinas (BSP) will begin accepting next month applications for technical assistance (TA) from rural banks that need financing to upgrade their core banking systems. In a memorandum signed by BSP Governor Eli M. Remolona, Jr., the central bank said rural banks may apply for assistance to fund their transition to cloud-based […]
Read more →Peso weakens as market eyes BSP meeting
THE PESO weakened against the dollar on Monday as players took positions before the Philippine central bank’s policy meeting this week, where the market expects a third straight rate hike. The currency dropped by six centavos to close at P61.73 versus the greenback from P61.67 on Thursday, data from the Bankers Association of the Philippines’ […]
Read more →Central bank bills fetch higher yield for 10th week
THE AVERAGE YIELD on the Bangko Sentral ng Pilipinas’ (BSP) short-term securities nudged higher for the 10th week in a row on Monday, even as the offer was met with strong demand. The 28-day BSP bills fetched P32.557 billion in tenders, slightly above the P30 billion auctioned off but below the P52.315 billion in bids […]
Read more →Peso may move sideways on BSP meet, Iran woes
THE PESO may trade sideways against the dollar this week ahead of the Bangko Sentral ng Pilipinas’ (BSP) policy meeting, with continued global market volatility stemming from the Middle East conflict to weigh on sentiment. On Thursday, the currency gained 14.5 centavos to close at P61.67 versus the greenback from its P61.815 finish on Wednesday, […]
Read more →Debt yields mixed on Fed, BSP policy view
YIELDS on government debt ended mixed last week as concerns over elevated inflation at home and in the United States kept rate hike bets alive, with traders also positioning before the Philippine central bank’s policy meeting on Thursday. GS yields, which move opposite to prices, inched up by an average of 0.89 basis point (bp) […]
Read more →A Pax Silica cheat sheet for business cocktails and other occasions
Say you find yourself at a conference, industry mixer, business cocktails, or a meet-and-greet with a potential joint venture partner, and someone asks you what you think of Pax Silica. In such a situation, you want to be able to show that you know what Pax Silica is, and, gin tonic in hand, offer some […]
Read more →Own Bank appoints new president
OWN BANK, The Rural Bank of Cavite City, Inc., has appointed Don Niño Santos as its new president and chief executive officer as it looks to enhance its digital capabilities and expand financial access. Mr. Santos has more than 27 years of leadership experience across the banking, fintech, telecommunications, risk management, and regulatory compliance fields. […]
Read more →BPI partners with Whoscall developer Gogolook to protect customers from spam
BANK of the Philippine Islands (BPI) has partnered with anti-scam services provider Gogolook to help customers detect fraud attempts. Under the partnership, BPI will provide qualified clients with complimentary access to Whoscall Premium Basic, Gogolook’s caller ID and spam-blocking mobile application, for 12 months. The app lets users identify unknown callers, block spam and scam […]
Read more →Merchant payments push digital transaction growth
MERCHANT PAYMENTS continued to drive the rise of digital retail transactions in the Philippines in 2025 as more consumers and businesses adopted scan-to-pay methods, a report from the Bangko Sentral ng Pilipinas (BSP) showed. The BSP’s 2025 Report on E-Payments Measurement published Tuesday showed that person-to-merchant (P2M) payments accounted for 74.31% of total digital retail […]
Read more →BPI waives PESONet fees for corporate fund transfers via BizLink
BANK of the Philippine Islands (BPI) has waived PESONet fees for corporate fund transfers via its BizLink platform. The bank said transactions made via the Pay Non-BPI disbursement feature of BPI BizLink are now free of charge. “The fee waiver is available to both existing and new BPI BizLink corporate clients, enabling businesses to transfer […]
Read more →BankCom eyes steady margins, profitability
BANK OF COMMERCE (BankCom) will continue to focus on maintaining its profitability for the rest of the year as weak economic conditions weigh on loan demand. “We continue to focus on the borrowers that we’re familiar with, that we have information on. But as I mentioned, given where the interest rates are, we’re seeing a […]
Read more →T-bill yields mixed on BSP policy bets
THE GOVERNMENT increased the award of the Treasury bills (T-bills) it offered on Monday even as yields were mixed as it saw strong demand for government debt, and amid easing expectations of aggressive tightening by the Bangko Sentral ng Pilipinas (BSP) as growth prospects remain weak. The Bureau of the Treasury (BTr) raised P54.8 billion […]
Read more →BSP hits digital payments goal as 2025 share hits 64.7% of volume
THE BANGKO SENTRAL ng Pilipinas (BSP) hit its digital payments target last year, driven by the rapid adoption of automated clearing houses and quick response (QR) codes across the country. Based on BSP data presented during the Development Budget Coordination Committee’s briefing for the 2027 National Budget at the House of Representatives on Monday, digital […]
Read more →Visa optimistic on Apple Pay adoption in PHL
GLOBAL PAYMENTS company Visa is optimistic on the adoption of Apple Pay in the Philippines following its launch this month as more financial institutions and merchants work to integrate tap-to-pay services. “The traction is good and we’re very happy with what we’re seeing. So, we’re betting on it. I think it’s going to be successful […]
Read more →Bank lending to agriculture sector tops P3 trillion as of June
BANKS met their mandated lending quota for the agriculture sector as they disbursed over P3 trillion in loans as of June, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. As of end-June, banks lent P3.109 trillion to the agriculture industry, reflecting 89.76% of the banking sector’s P3.464-trillion loanable funds for the period. This […]
Read more →Peso slips on BSP policy signals
THE PESO depreciated further against the dollar on Monday following less hawkish signals from the central bank. The currency weakened by 4.5 centavos to close at P61.495 versus the greenback from its P61.45 finish on Friday, data from the Bankers Association of the Philippines’ website showed. This was its lowest close in more than two […]
Read more →Debt yields end lower as data temper Fed, BSP tightening bets
YIELDS on government securities (GS) traded in the secondary market mostly fell last week as expectations for rate hikes by the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) eased following slower US July inflation and weak Philippine second-quarter domestic growth data.
Read more →Banks’ borrowings from BSP’s discount window facility hit P60B
PHILIPPINE BANKS availed of over P60 billion in loans through the Bangko Sentral ng Pilipinas’ (BSP) discount window facility (DWF) last year, data from the regulator showed. Loans extended by the BSP to banks via the DWF reached P60.1 billion at the end of 2025, according to central bank data. This was up from 2024, […]
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