Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
137 articles from BusinessWorld Banking
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 […]
Read more →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, […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →Peso weakens before Q2 GDP data
THE PESO weakened anew against the dollar on Thursday as sentiment turned cautious before the release of second-quarter Philippine gross domestic product (GDP) and US labor data. The currency dropped by 6.4 centavos to close at P60.815 versus the greenback from its P60.751 finish on Wednesday, data from the Bankers Association of the Philippines’ website […]
Read more →EastWest Bank partners with Luna, DragonFi to expand PERA access
EAST WEST Banking Corp. (EastWest Bank) has partnered with DragonFi Securities, Inc. and Luna Securities, Inc. to expand access to its Personal Equity and Retirement Account (PERA) products. Under the partnership, customers of DragonFi Securities and Luna Securities can access EastWest PERA products directly via their digital channels. EastWest PERA products are available to both […]
Read more →The Pax Silica gamble
The Pax Silica debate has rapidly become one of the most divisive conversations in the country. Supporters view it as a rare chance for the Philippines to enter the global race for artificial intelligence (AI), semiconductors and advanced manufacturing. Critics warn of foreign influence, environmental costs, resource depletion and the prospect of the country once […]
Read more →China Bank Savings books net earnings of P1.19 billion in first half
CHINA BANK SAVINGS, Inc. (CBS) recorded a net income of P1.19 billion for the first half of the year on steady lending despite challenging macroeconomic conditions. “The bank’s resilient performance was supported by the continued expansion of its core lending business, which drove revenue growth during the period,” the thrift subsidiary of listed China Banking […]
Read more →Apple Pay now available in the Philippines
APPLE PAY is now live in the Philippines, enabling contactless payments via supported devices. iPhone, Apple Watch, Mac, and iPad users can now add select Philippine-issued credit and debit cards to their Apple Wallet and use them for transactions anywhere that takes contactless payments, whether it be in-store, via apps or online, Apple said in […]
Read more →Peso slides back to P61 level on uncertainty over US-Iran talks
THE PESO slid back to the P61-a-dollar level on Tuesday on mixed news about peace talks between the United States and Iran, and as the yen slipped again a day after a joint intervention effort lifted the embattled currency. The local unit fell by 23.5 centavos to close at P61.165 versus the greenback from its […]
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