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211 articles from BusinessWorld Banking
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BusinessWorld Banking
Bank of Makati looks to ramp up asset growth
BANK OF MAKATI (A Savings Bank), Inc. is looking to push its digital shift and launch more offerings as it seeks to regain its place as the sixth-largest thrift bank in the Philippines in asset terms. “Based on our latest data…, we’re not satisfied with our ranking. In terms of assets, I think we’re just […]
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Metrobank rolls out new security features on digital banking app
METROPOLITAN BANK & Trust Co. (Metrobank) has rolled out new security measures on its digital banking application to combat financial fraud and in compliance with the Anti-Financial Account Scamming Act (AFASA). Metrobank said it has updated its mobile app to integrate four new security features, namely, a 24-hour cooling-off period after a major account update, […]
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SSS looks to keep income above P100B to ensure sustainability
THE SOCIAL Security System (SSS) is aiming to keep its net income above P100 billion to keep its fund life sustainable while also boosting member benefits. “I think P100 billion should be the level of income of the pension fund today because if the income increases, we have more opportunities to increase benefits. So, I […]
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Pru Life UK launches insurance product with cancer coverage
PRU LIFE Insurance Corp. of UK (Pru Life UK) has launched a life insurance policy with cancer protection that also has a no-claim reward feature. The life insurer on Wednesday launched PRUCare Cancer Protect, a 10-year renewable term plan that features full coverage for late-stage cancer, 50% for early-stage cancer, and an extra 20% benefit […]
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Peso rebounds vs dollar on expectations of soft US consumer inflation
THE PESO recovered against the dollar on Wednesday on expectations of softer US consumer inflation data that could further temper bets of a US Federal Reserve hike next month. The currency strengthened by eight centavos to close at P61.18 versus the greenback from its P61.26 finish on Tuesday, based on data from the Bankers Association […]
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HSBC hikes firms’ InstaPay transfer cap to P500,000
HSBC PHILIPPINES is now offering InstaPay for Business, allowing firms to transfer up to P500,000 per transaction to its clients and other businesses in real time. This raises the bank’s InstaPay transfer limit from the previous P50,000 for business-to-consumer (B2C) and business-to-business (B2B) transactions. HSBC is the sixth financial institution to offer InstaPay for Business, […]
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Bond yields move sideways as market sees less hawkish BSP
THE GOVERNMENT made a full award of the Treasury bonds (T-bonds) it offered on Tuesday as rates were aligned with secondary market levels, with the market expecting a less hawkish stance from the Bangko Sentral ng Pilipinas (BSP) amid slowing economic growth. The Bureau of the Treasury (BTr) borrowed P30 billion as planned from the […]
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BSP plans to set up new facilities to enable off-hours settlements
THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to update its existing rules on payment settlement facilities to streamline large-value payments as it plans to extend the Peso Real-Time Gross Settlement (RTGS) Payment System’s (PS) operating hours. In a draft memorandum, the central bank proposed amendments to the rules on the Peso RTGS Payment System, […]
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Peso sinks back to P61 range on US-Iran impasse
THE PESO slid back to the P61-per-dollar level on Tuesday as hopes for a peace deal between the United States and Iran faded due to new demands from both parties. The currency fell by 55.5 centavos to close at P61.26 versus the greenback from P60.705 on Monday, based on data from the Bankers Association of […]
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SSS targets over P250 billion in benefit payments
THE SOCIAL Security System (SSS) expects to pay out over P250 billion in benefits this year as it looks to improve social protection. “Our main concern is increasing benefits,” SSS President and Chief Executive Officer Robert Joseph M. De Claro said at a press conference on Tuesday. He said they want to improve their net […]
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PBB Q2 income at P412.8M
PHILIPPINE BUSINESS Bank, Inc., A Savings Bank (PBB) reported a net income of P412.8 million for the second quarter, it said on Tuesday. Its financial statement was unavailable as of press time. Quarter on quarter, net income surged by 86.3%, PBB said in a disclosure to the stock exchange. Pre-tax and pre-provision profit, which includes […]
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BPI AIA appoints new CEO
BPI AIA LIFE Assurance Corp. has appointed Melissa Henson as its new chief executive officer (CEO), it announced on Tuesday. Ms. Henson previously served as the chief marketing officer (CMO) of AIA Philippines Life and General Insurance Co., a role that she assumed in 2023. BPI AIA is the bancassurance partnership between AIA Philippines and […]
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BTr upsizes T-bill award as rates drop on tempered BSP hike bets
THE GOVERNMENT upsized its award of the Treasury bills (T-bills) it auctioned off on Monday as rates dropped across all tenors, driven by robust demand and dwindling expectations of aggressive hikes from the Bangko Sentral ng Pilipinas (BSP). The Bureau of the Treasury (BTr) raised P58.8 billion from the T–bills, above the P42 billion it […]
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LANDBANK looks to expand lending to spur income rebound
LAND BANK of the Philippines (LANDBANK) is hoping to still post a higher net income for this year after it recorded a decline in the first half as it is targeting sustained loan expansion while managing potential credit risks. The state-run lender’s net income dropped by 4.04% year on year to P24.21 billion in the […]
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Peso jumps as weak US jobs data hit greenback
THE PESO appreciated on Monday as the dollar stayed under pressure, with weak US jobs data leading markets to recalibrate the US Federal Reserve rate hike calls. The currency jumped by 19.5 centavos to close at P60.705 versus the greenback from its P60.90 finish on Friday, based on data from the Bankers Association of the […]
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BankCom net profit up 14% in Q2
BANK of Commerce (BankCom) recorded a 14% growth in its net income in the second quarter, driven by its core business and foreign exchange gains. The San Miguel Corp. affiliate booked a net income of P1.13 billion in the three months through June, up from P993.91 million in the same period in 2025, it said […]
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Responsible AI use key to managing potential risks, says BSP chief
THE Philippine banking industry must ensure proper safeguards are in place to manage risks arising from artificial intelligence (AI) and promote its efficient use, the Bangko Sentral ng Pilipinas (BSP) chief said. Speaking at the BSP AI Summit 2026 held late in July, BSP Governor Eli M. Remolona, Jr. said AI has allowed the financial […]
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Central bank bills fetch higher yield as demand declines
THE AVERAGE YIELD on the Bangko Sentral ng Pilipinas’ (BSP) short-term securities nudged higher for an eighth consecutive week as demand for the offering weakened. The 28-day BSP bills drew P35.4 billion in bids on Friday, below the P40 billion auctioned off and the P43.39 billion in tenders for the same volume offered during the […]
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Debt yields drop as data temper tightening bets
YIELDS on government securities (GS) traded in the secondary market ended lower last week as Philippine headline inflation came in slower than expected in July, with weak economic growth also dampening prospects of further monetary tightening. GS yields, which move opposite to prices, declined by 13.36 basis points (bps) on average week on week, based […]
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CBS, ProFriends team up to provide access to home financing
CHINA BANK Savings, Inc. (CBS) has partnered with Property Company of Friends, Inc. (ProFriends) to help provide access to financing to prospective homeowners. Under the partnership, the thrift bank, through its Housing Loans Division, and ProFriends provides prospective buyers with both property options and accessible financing assistance through its various home loan options with competitive […]
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Chinabank’s net income climbs 11% to P14.5 billion in first half
CHINA BANKING CORP.’S (Chinabank) net income climbed 11% to P14.5 billion in the first six months of the year, backed by strong loan growth. “Bottom-line expansion was driven by the surge in core lending, strong balance sheet growth, and the optimization of risk cushions given the health of the bank’s loan book,” the bank said […]
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PDIC eyes return of P107-B remittance to augment its deposit insurance fund
THE PHILIPPINE Deposit Insurance Corp. (PDIC) is working to recover the P107.23 billion in funds it remitted to the government in 2025 under a special provision under the 2024 budget that was already struck down by the Supreme Court to expand its deposit insurance fund. “We’re working with the pertinent agencies to try to recover […]
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BSP wants banks to use National ID authentication in KYC processes
THE BANGKO SENTRAL ng Pilipinas (BSP) wants its supervised financial institutions to integrate the National ID Authentication Services (NIDAS) into their customer due diligence (CDD) protocols. According to a draft memorandum, the regulator plans to require banks and other BSP-supervised institutions (BSIs) to use the Philippine Statistics Authority’s (PSA) NIDAS for verifying clients to enhance […]
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