Philippines
Chart of the Week: Philippines may cut policy rate further by 50bps in Q2
Chart of the Week: Philippines may cut policy rate further by 50bps in Q2
A further 200bps cut may happen in 2020 if the pandemic extends beyond June.
Philippine banks' asset quality face decay amidst region-wide lockdown
The monetary board’s 50bp policy cut will put additional pressure on NIMs.
Philippines suspends financial market amidst country-wide lockdown
The Philippine Stock Exchange has been closed indefinitely.
ADB temporarily closes headquarters due to COVID-19
A visitor reportedly tested positive for the coronavirus.
COVID-19 spells slow loan growth, higher NPLs for Philippine banks
Credit growth will likely be down to 8-10% in 2020.
Philippine central bank bolsters small lenders' capital
Small banks should allot a minimum 6% CET1 ratio and 7.5% Tier 1 ratio.
UnionBank launches forex mobile platform
Customers will be able to access forex rates throughout the day.
UnionBank launches forex mobile platform
Customers will be able to access forex rates throughout the day.
Philippine central bank to relax rules on ASF, COVID-hit banks
BSP may stagger booking allowance of credit losses and waive penalties.
Wells Fargo mulls slashing 700 jobs in Manila
A portion of these roles will be moved to India.
TONIK ties up with Finastra to support Philippine virtual bank launch
It will launch in the country sometime in 2020.
New regulation may promote Islamic banking in the Philippines
But Islamic banks are not expected to take significant market share in the medium term.
Online financial services rising amongst older Southeast Asians
The Philippines has its largest share of 41 to 60 year old users of online lending services.
Surge in Philippine property prices threaten banking system
A boom in the POGO sector led to a 10% YoY rise in residential real estate prices in Q3 2019.
TONIK Digital Bank to launch in the Philippines in 2020
It will offer a full range of retail banking services, primarily retail deposits and consumer loans.
Philippine central bank chief signals possible interest rate cut in Q1
The bank lowered rates by 75 basis points last year.
Seafarer-focused e-money app MarCoPay obtains licence in the Philippines
The app will use QR codes to help seafarers manage and remit salaries.
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