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30 articles from BusinessWorld Banking
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BusinessWorld Banking
Peso gains as inflation fears wane
THE PESO edged up on Tuesday as lower global oil prices and June Philippine consumer price index data supported expectations of easing inflationary pressures. The currency rose by 5.6 centavos to close at P61.435 per dollar from P61.491 on Monday, according to data on the Bankers Association of the Philippines’ website. The local unit opened […]
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BTr, IMF deepen technical cooperation on public financial management
THE BUREAU of the Treasury (BTr) and the International Monetary Fund (IMF) are looking to expand their technical cooperation to modernize the country’s public financial management system, including exploring the use of artificial intelligence in treasury operations. In a statement on Monday, the Treasury bureau said it met with representatives from the IMF to discuss […]
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Debt yields rise as market eyes US-Iran peace talks
YIELDS on government securities (GS) ended mostly higher last week as longer tenors rose amid lingering uncertainty over peace talks between the United States and Iran, and with players positioning before the release of June Philippine inflation data. GS yields, which move opposite to prices, rose by an average of 6.93 basis points (bps) week […]
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More financial institutions to lower transfer fees, BSP says
THE BANGKO SENTRAL ng Pilipinas (BSP) expects more financial institutions to lower or waive their person-to-person digital transfer fees to meet new rules that took effect on Saturday (July 4) and will issue warnings to those who fail to comply. E-wallet giant GCash on July 4 cut its InstaPay transfer fee to P10 from P15. […]
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How algorithms divide a nation
Why is it that despite the abundance of publicly available information about political personalities — their statements, actions, inconsistencies, and even documented misconduct — the truth often fails to persuade a core loyal following? Why do labels such as “pink,” “yellow,” “DDS,” or “Marcos loyalist” endure despite evidence that defies these stereotypes? Why do political […]
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Peso tumbles to over three-week low
THE PESO tumbled to an over three-week low on Wednesday as demand for the dollar was fueled by hawkish US Federal Reserve expectations and continued uncertainty over the Middle East war. The currency fell by 26.1 centavos to finish at P61.621 versus the greenback from P61.36 on Tuesday, based on Bankers Association of the Philippines […]
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AUB leverages generative AI, digitalization as it eyes continued growth
ASIA United Bank Corp. (AUB) has crafted a strategic roadmap showing how it aims to leverage technology and artificial intelligence (AI) to ensure continued growth despite domestic and global economic challenges. AUB is integrating generative AI across its operations in response to evolving customer needs, it said. “Moving beyond basic operational efficiency, AUB is actively […]
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Peso climbs with US, Iran set to resume talks
THE PESO strengthened against the dollar on Monday after the United States and Iran agreed to stop the latest exchange of attacks and restart their peace talks. The currency appreciated by 12 centavos to close at P61.17 versus the greenback from P61.29 on Friday, based on Bankers Association of the Philippines data posted on its […]
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BSP sets governance principles for banks’ responsible, ethical AI use
PHILIPPINE financial institutions should develop artificial intelligence (AI) governance frameworks that reflect the extent and complexity of their use of these emerging technologies in their operations to manage potential risks and establish safeguards for ethical use, the Bangko Sentral ng Pilipinas (BSP) said. The BSP, through Memorandum No. M-2026-031 dated June 24, issued a guidance […]
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GS rates to track secondary mart
YIELDS on government securities (GS) to be auctioned off this week may end mixed, tracking secondary market movements as rocky talks between the United States and Iran stoked fresh volatility. On Monday, the Bureau of the Treasury (BTr) will offer up to P90 billion in short-term securities. Broken down, it will sell P30 billion in […]
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Peso to stay at P61 level as war continues
THE PESO may continue to move sideways against the dollar this week as players remain cautious over developments in the Middle East, with prospects of an end to the four-month war still dim. On Friday, the local unit closed at P61.29 per dollar, unchanged from the previous day’s close. Week on week, the peso fell […]
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BSP securities’ average rate rises despite strong demand
THE SHORT-TERM bills of the Bangko Sentral ng Pilipinas (BSP) fetched a higher average yield on Friday even as demand continued to increase. Tenders for the 28-day BSP bills reached P85.659 billion, almost triple the P30 billion placed on the auction block and higher than the P70.215 billion in tenders for the same offer volume […]
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Debt yields end mixed on fragile US-Iran peace deal
YIELDS on government securities (GS) were mixed last week on continued uncertainty over ongoing negotiations to end the conflict between the United States and Iran, and as US inflation data fueled rate hike speculations. GS yields edged up by an average of 0.36 basis point (bp) week on week, according to PHP Bloomberg Valuation Service […]
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BSP relief targets potential financial stability risks
THE BANGKO SENTRAL ng Pilipinas’ (BSP) move to roll out prudential relief measures for banks amid the fallout from the Middle East conflict shows that it recognizes potential financial stability risks, but supervisory vigilance is needed to prevent possible moral hazards, GlobalSource Partners said. Central banks are moving to preserve macroeconomic and financial stability in […]
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Philippine banks face rising loan loss risks, lower profits from war fallout
PHILIPPINE BANKS could face increased asset quality risks and lower profitability in the near term due to economic headwinds brought by the Middle East war, Fitch Ratings said. The debt watcher said in a report that the impact of the conflict could affect banks’ operating environment and hit specific loan segments that may push up […]
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Peso strengthens as oil prices fall
THE PESO bounced back sharply against the dollar on Thursday as news of progress in the ongoing peace talks between the United States and Iran and increased traffic flow in the Strait of Hormuz led to lower global crude oil prices. The currency gained by 26.2 centavos to close at P61.29 versus the greenback from […]
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Banks’ trust assets hit fresh high at end-March
THE Philippine banking system’s trust assets climbed to a new record high of nearly P6.6 trillion as of March, data from the Bangko Sentral ng Pilipinas (BSP) showed. Banks’ trust units held P6.586 trillion in assets at end-March, 15.63% higher than the previous record of P5.696 trillion as of December, according to central bank data […]
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BPI to shut down Robinsons Bank channels by July 1
BANK of the Philippine Islands (BPI) will close Robinsons Bank Corp.’s digital platforms and communication channels by July 1 as it integrates the latter’s operations into its system following their merger. Starting next month, Robinsons Bank’s online banking, digital app, contact center including hotline and mailbox, website and social media pages will no longer be […]
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Storytelling and the business model canvas
“The power of storytelling” was the topic of Karen Davila at the Filipina CEO Circle’s (FCC) graduation for “CEO Next,” co-chaired by Accenture’s Ambe Tierro and Asticom’s Mharicar Castillo. “CEO Next” is FCC’s flagship program designed to empower and train high performing senior women executives into CEO roles. Ms. Karen said that while your past […]
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Term deposit facility yield jumps
THE CENTRAL BANK’S term deposit facility (TDF) fetched a higher average yield on Wednesday despite drawing strong demand, following its latest rate hike and expectations of further policy tightening. The seven-day term deposits offered by the Bangko Sentral ng Pilipinas (BSP) attracted P147.021 billion in tenders, above the P110 billion placed on the auction block […]
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BSP capital relief measure for banks’ paper losses credit negative — Moody’s
MOODY’S RATINGS said the Bangko Sentral ng Pilipinas’ (BSP) latest regulatory relief measure is credit negative for banks as it could mask the capital impact of paper losses incurred from the market volatility caused by the Middle East war. BSP Memorandum No. 2026-027 signed by BSP Governor Eli M. Remolona, Jr. on June 19 allows […]
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Pre-need sector’s Q1 net profit down as volatility hits investment income
THE PRE-NEED INDUSTRY saw its combined net income drop by 88.05% in the first quarter as trust fund earnings were dragged by increased market volatility, the Insurance Commission (IC) said. The sector’s net income plunged to P140 million in the first three months of the year from P1.17 billion previously due to lower income generated […]
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Peso sinks to over two-week low on Fed hike bets
THE PESO slumped to an over two-week low against the dollar on Wednesday as stronger-than-expected US economic data fueled hawkish US Federal Reserve bets, and amid continued uncertainty over the Middle East peace talks. The currency sank by 20.1 centavos to close at P61.552 versus the greenback from P61.351 on Tuesday, based on Bankers Association […]
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