The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), is currently considering whether to hold onto or sell a portion of its substantial gold reserves. This comes following comments from Benjamin Diokno, a member of the bank’s Monetary Board…
In a bold step towards modernizing its operations, Bank of Commerce (BankCom), a prominent Philippine bank, has successfully migrated to a new core banking system. This significant upgrade, which encompasses the bank’s 140 branches and expansive ATM network,…
Outstanding loans from universal and commercial banks experienced an 11.8% year-on-year increase in July 2025, as reported by the Bangko Sentral ng Pilipinas (BSP). This figure, although slightly tempered, still builds on the robust growth seen in June, where…
The Palawan Group of Companies recently celebrated a milestone, marking four decades of service with an engaging Partners’ Night on August 5 and 6, 2025, at the Blue Leaf Cosmopolitan in Quezon City. This two-day event was more than just a gala; it was an…
In a significant move towards fostering regional economic collaboration, Bank Negara Malaysia (BNM), Bank Indonesia (BI), and the Bank of Thailand (BOT) have unveiled an expanded framework for local currency transactions. This initiative aims to facilitate…
UnionBank of the Philippines is making waves in the banking sector after its strategic acquisition of Citibank’s consumer banking operations in the country. In just nine months, the bank has successfully integrated Citibank’s IT systems and unveiled a new…
The retail landscape in Asia is witnessing a transformative shift as brands increasingly adopt hybrid shopping models in response to changing consumer preferences. As physical and digital shopping environments converge, retailers are finding innovative ways…
The Philippine thrift banking sector revealed strong performance indicators as it reported total assets reaching $19.5 billion (PHP1.1 trillion) by the end of 2024, marking a 6% increase from the previous year. The data, released by the Chamber of Thrift…
Globe Telecom has announced that it supports the digitalization plans of the Philippines’ new administration. One of the leading digital solutions providers, Globe stated that it is ready to collaborate with the government to provide its industry leading…
The regional neighbors aim to boost cross-border collaborations that will strengthen Asean regional payments and provide financial inclusivity to Overseas Filipino Workers (OFWs) and micro-small-to-medium-sized enterprises (MSMEs). The central banks of…
Citigroup has reportedly selected the Union Bank of Philippines as its preferred bidder for its consumer banking assets in the country. Citi has chosen Union Bank as its preferred bidder for a potential sale valued at an estimated $1 billion, according to a…
Union Bank’s fintech subsidiary UBX is expanding its operations in Singapore as it eyes growth in Asia. UBX, the financial technology venture studio and fund of Union Bank, hopes its Singapore headquarters will be a bridge for startups to enter the Philippine…
Unobank will be entirely regulated under the Digital Banking License framework in the Philippines. DigibankAsia, a Singapore-headquartered fintech, has become the first fintech to receive a license to operate a digital bank in the Philippines, it announced in…
The Wirecard scandal continues to unravel as authorities in the Philippines file criminal complaints against its former chief operating officers and others. The Philippine’s National Bureau of Investigation (NBI) filed criminal complaints against individuals…
The opportunity is ripe for the digital-only bank in the country, which has a population of over 100 million – 70 percent of whom is currently unbanked – spread across a vast territory of 7,600 islands. Tonik has rolled out its long-awaited deposit, payment,…
CIMB Bank Philippines’ all-digital bank has partnered Jumio, a provider of AI-powered end-to-end identity verification and authentication solutions to provide a simple, hassle-free and convenient digital onboarding solution to Filipinos. Jumio’s identity…
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