Union Bank of the Philippines (UnionBank) embarked on a digital transformation journey in 2016, long before the COVID-19 pandemic underscored the importance of digital readiness. This forward-thinking approach has enabled UnionBank to position itself as a digital trailblazer in the financial sector, allowing them to scale their operations efficiently and stay ahead of the curve. One of the most striking aspects of UnionBank’s digital transformation is the overhaul of their customer touchpoints. The bank has gone the extra mile to provide a se ...
MANILA, Philippines —The Ty family-led Metropolitan Bank & Trust Co. (Metrobank) will pay record dividends of P22.5 billion to stockholders after achieving historic high earnings the past year. Metrobank, the country’s second-largest private bank, reported a significant boost in its net income for 2023, reaching P42.2 billion, which marks a 28.9-percent increase over 2022, a stock exchange filing on Thursday showed. This translated to a return on equity of 12.5 percent, higher than the 10.3 percent recorded in the previous year. ...
Find all the information you need about how to set up a business bank account, what type of account you need, features to look for and more.
The Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (Jica) have jointly launched the Credit Risk Database Scoring Model to help lenders better assess the creditworthiness of small and medium enterprise borrowers, including those without credit history or adequate collateral. According to BSP Governor Felipe Medalla, this latest tool for banks was intended to bridge the funding gap for micro, small and medium enterprises (MSMEs) while enhancing the credit risk management of financial institutions using a data-dri ...
Customs Commissioner Rey Leonardo B. Guerrero told the Inquirer that the BOC was “hoping to have the project started soon,” although they were still awaiting approval of the World Bank loan. ; The World Bank financing will account for 85 percent of project cost, while the remainder will come from counterpart government funds, Guerrero noted. ; Loan negotiations between the World Bank and the Department of Finance started last May 12.
The Gokongwei-backed GoTyme Bank is looking at expanding into... partner bank there are already in advanced stages.... The bank is expecting to have a total of 400 kiosks across the...
World Bank (WB) said. Gonzalo Varela, WB lead economist for Brunei, Malaysia, the Philippines and Thailand, said the Washington-based lender’s latest projection of 6-percent growth for...
Many thanks to all of you!” The Bank also won “Best Mobile Banking Technology Implementation” for its business banking app designed for small and medium enterprises (SMEs), which...
MANILA -The national government will start this week marketing efforts in preparation for the issuance of $2 billion worth of dollar-denominated retail Treasury bonds, which is expected to finally happen this coming September based on the latest plans. The Marcos administration’s economic team has set out for New York in yet another sortie, plus a visit to Toronto in Canada to oblige requests from investors for an economic briefing. National Treasurer Rosalia de Leon said in a press briefing that for this latest foreign currency RTB, the mini ...
Rural and cooperative banks continued to do the heavy lifting in extending loans to micro, small and medium enterprises (MSMEs), as the entire Philippine banking industry failed again to meet its lending quota for the industry deemed as the backbone of the economy. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed total loans of the local banking sector to MSMEs amounted to P488.13 billion in the three months ending in June, up by 5.8 percent compared with a year ago. However, that amount of credit only accounted for 4.52 percent of ...