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Tag: Karl Angelo N. Vidal

RCBC offers basic accounts

RIZAL COMMERCIAL Banking Corp. (RCBC) has launched basic deposit accounts (BDA), offering a cheaper and simpler way to access financial services in line with the government’s inclusion push.

UnionBank’s IOC to boost lender

UNIONBANK of the Philippines said its integrated operations center (IOC) launched last year will help supervise the overall operations of the bank, which in turn will translate to maximized revenues and a better customer experience.

Peso climbs vs dollar

THE PESO strengthened on Wednesday as the dollar’s ascent against the euro paused and as the local trade data came in stronger than expected.

Gov’t makes partial award of T-bonds as rates surge

THE GOVERNMENT accepted P9.74 billion worth of reissued five-year Treasury bonds (T-bond) yesterday amid tepid demand as investors continued to react to the September inflation print.

Peso down on risk-off sentiment

THE PESO weakened anew against the dollar on Tuesday as risk-off sentiment prompted investors to shy away from riskier currencies due to the geopolitical tensions overseas.

Gov’t partially awards T-bills as rates rise

THE GOVERNMENT made a partial award of the Treasury bills (T-bill) on offer yesterday as investors priced in the slower-than-expected inflation print for last month.

PBCom raises P2.9B from LTNCDs

PHILIPPINE BANK of Communications (PBCom) raised P2.9 billion from its offer of long-term negotiable certificates of deposit (LTNCD), which will be used to support its long-term funding business.

RCBC partners with KB Kookmin Bank

RIZAL Commercial Banking Corp. (RCBC) has partnered with KB Kookmin Bank Korea, which will provide banking services and financial information assistance to Korean and Philippine firms.

Peso inches higher on inflation

THE PESO strengthened against the dollar on Monday as the slower-than-expected September inflation print continued to boost the attractiveness of the local currency.

Rates of T-bills, bonds on offer to climb on faster Sept....

RATES OF government securities on offer this week will likely climb anew, with bids for the five-year Treasury bonds (T-bond) expected to be rejected, as investors price in the elevated September inflation print.

Infrastructure, connectivity issues impeding PHL e-payments growth

DIGITAL PAYMENTS remain pivotal in financial inclusion, industry players said, as physical and cultural issues are seen to be key barriers in serving the unbanked sector.

Peso to weaken on hawkish Fed

THE PESO is seen to weaken further this week as likely mixed US data and hawkish Federal Reserve officials may boost the attractiveness of the greenback.

SSS opens calamity loan fund for Ompong-hit areas

THE SOCIAL Security System (SSS) announced yesterday that it has allocated P1.61 billion for the calamity assistance program (CAP) for more than a million of its active members and pensioners who were affected by the typhoon Mangkhut (local name: Ompong) last month.

Metrobank raises P8.68 billion

METROPOLITAN Bank & Trust Co. (Metrobank) has raised P8.68 billion from the first tranche of its P25-billion long-term negotiable certificates of deposit (LTNCD) program meant to diversify its funding sources.

C-suite gender equality deemed critical in finance

MCKINSEY & Co. said gender disparity in the boardrooms of financial institutions remains an issue in the Philippines, and called female representation important in the context of a customer base that is growing more diverse.

Peso weakens as dollar climbs vs major units

THE PESO weakened on Thursday as the dollar strengthened on the back of a jump in US Treasury yields.

Peso up on consolidation ahead of data

THE PESO went up against the dollar on Wednesday as it consolidated ahead of the inflation data release on Friday.

Sun Life cuts 2018 GDP estimate to 6.4% from 7%

SUN LIFE of Canada (Philippines), Inc. (Sun Life Financial) has downgraded its economic growth forecast for 2018, driven by lower consumption due to elevated inflation.

Peso weakens as investors price in inflation bets

THE PESO weakened further against the dollar on Tuesday as investors continued to price in a likely faster September inflation print.

Gov’t makes partial award of T-bills as rates rise

THE GOVERNMENT partially awarded the Treasury bills (T-bill) it auctioned off yesterday, with demand skewed towards the longer tenor due to elevated inflation bets for the month of September.

Osmanthus to buy 15% stake in BDO’s One Network Bank

BDO Unibank, Inc. has entered into an agreement with a Singaporean investment firm allowing the latter to acquire a minority share of its rural banking subsidiary.

Microinsurance coverage up

THE Insurance Commission (IC) said the number of Filipinos covered by microinsurance grew further in the first half of the year driven by mutual benefit associations (MBA).

Peso down as market eyes inflation data

THE PESO weakened against the dollar on Monday as market players anticipate the September inflation print, which is seen to pick up further.

Treasury bill rates likely to go up

RATES of the Treasury bills (T-bill) on offer today will likely climb, with oversubscription in tenders expected, as investors await the local inflation print for September.

Peso seen sideways after BSP hike

THE PESO will likely move sideways against the dollar this week following the aggressive policy tightening of the local central bank and amid trade developments in the United States.

SSS eyes gradual increase in contribution rate

THE SOCIAL Security System is eyeing to increase its monthly contribution rate at a more relaxed pace as it seeks to extend the fund life of the agency, a top official said.

PNB to absorb thrift bank unit PNB Savings

PHILIPPINE National Bank (PNB) said it will consolidate its thrift unit within its commercial bank operation, widening its exposure to retail and small business clients.

RCBC raises P3.58-B from LTNCD issue

RIZAL Commercial Banking Corp. (RCBC) has raised P3.58 billion from the first tranche of its P20-billion long-term negotiable certificates of deposit (LTNCD) program bolstering its long-term funding base.

SSS extends loan relief for members in calamity areas

THE Social Security System (SSS) said Friday that it has extended its Loan Restructuring Program (LRP) with penalties condoned for another six months, to provide relief to members living in areas affected by recent calamities.

Peso stronger after 50-bp BSP rate hike

THE peso strengthened further on Friday even amid a dollar recovery following monetary policy tightening by the Bangko Sentral ng Pilipinas (BSP) and Federal Reserve.

GrabPay to expand PHL mobile wallet services

GRAB PHILIPPINES (MyTaxi.PH, Inc.) is set to expand its GrabPay mobile wallet services here after it obtained central bank approval, a top official said on Thursday.

Peso recovers vs dollar ahead of BSP rate decision

THE PESO recovered on Thursday as investors reduced their dollar positions ahead of policy tightening by the local central bank.

Banks to remain stable amid rate hikes

PHILIPPINE BANKS are likely to maintain generally stable credit fundamentals amid rising interest rates and choppy market conditions, Fitch said, even as it flagged concerns over a modest deterioration in asset quality and softening loan growth.

Peso to weaken further next year on trade gap

THE PESO will likely weaken further against the dollar in 2019 as the country’s trade deficit is seen to widen brought by the Duterte administration’s infrastructure push, an economist from Bank of the Philippine Islands (BPI) said.

UnionBank joins int’l blockchain network

UNIONBANK of the Philippines is now part of an international bank network that uses the blockchain technology to minimize friction in global payments process.

Peso drops ahead of BSP

THE PESO weakened by a tad to a fresh 12-year low on Wednesday as the market awaits the policy decisions of the local and US central banks.

Gov’t plans P270-B Q4 borrowing

THE GOVERNMENT plans to borrow P270 billion from the domestic market next quarter through auctions of securities, the Bureau of the Treasury (BTr) announced on Tuesday.

RCBC to absorb thrift unit into commercial bank

THE Rizal Commercial Banking Corp. (RCBC) will absorb the operations of its thrift bank subsidiary to reduce operating costs and consolidate capital, providing the lender with a bigger retail base.

Treasury makes partial award of 7-year bonds, yield 7.085%

THE government made a partial award of the reissued seven-year Treasury bonds (T-bond) at the auction yesterday amid high rates following the central bank’s latest policy tightening.

UCPB launches PESONet fund transfer service

UNITED COCONUT PLANTERS BANK (UCPB) has launched the Philippine Electronic Fund Transfer System and Operations Network (PESONet) service on its mobile application, allowing clients to transfer funds electronically.

Peso hits new lows ahead of rate action

THE PESO weakened to a fresh 12-year low ahead of possible rate hikes by the central bank and the Federal Reserve as well as elevated trade tensions between the United States and China.

Gov’t rejects all bids for T-bills

THE GOVERNMENT rejected all bids for the Treasury bills (T-bill) it offered on Wednesday as rates came in higher than expected as the market awaits the policy meetings of the local and US central banks.

Insurance brokers post growth in mediated premium

PREMIUM INCOME generated by brokerage activities grew in 2017 driven by mediated profit in the non-life segment, the Insurance Commission (IC) said.

Peso declines to new 12-year low

THE PESO weakened against the dollar to log a fresh 12-year low on Monday due to continued trade tensions overseas and ahead of expected tightening moves from the local and US central banks.

Gov’t debt to fetch higher rates

GOVERNMENT SECURITIES on offer this week will likely fetch higher rates anew, with bids on the seven-year Treasury bonds (T-bond) seen to be rejected, as investors price in the possible policy tightening from the local and US central banks.