Philippines
UnionBank of the Philippines' thrift unit completes merger with PR Savings Bank
UnionBank of the Philippines' thrift unit completes merger with PR Savings Bank
The move will accelerate UnionBank's push into the motorcycle financing market.
Philippine banks' 2018 earnings up 6.4% to $3.45b
Big banks recorded a 9.3% profit increase to $3.09b.
Philippine central bank governor Nestor Espenilla Jr. passes away at 60
He spearheaded the digitalisation of the retail payment system in the country.
The Philippines greenlights bank merger
AllBank will absorb the assets and liabilities of Rural Bank of Plaridel.
Philippine rural banks call to stop shrinking industry
Around 139 rural lenders have shut down operations since 2009.
Philippine banks embrace real-time electronic fund transfer system
Both Instapay and Pesonet have seen banks grow to 47 and 42 respectively.
Philippine banks agree on $410m debt-equity swap to save troubled Hanjin
The five creditors have agreed to swap debt for shares in the parent firm.
Bad loans threaten Philippine banks amidst steep interest rates
Soured assets held by Philippine banks hit $430m in November 2018.
Big Philippine banks' profits rose 9.3% to $3.07b in 2018
Interest earnings buoyed yearly profits despite higher borrowing costs.
Philippine bank accounts up 6.8% to 57.1 million in 2017
The number of unbanked local government units also dipped to 554 from 582.
Union Bank of the Philippines profits down 13% to $140m in 2018
It fell prey to margin pressures amidst steep interest rates.
The Philippines beefs up bank branch network even as Asian peers trim down
Roughly 66.3% of towns and cities have banking presence in 2018.
Philippines' BPI taps on IBM for $260m digital transformation plan
The firm will provide IT infrastructure to support an agile IT and hybrid cloud.
Philippine banks can weather their largest corporate default
The combined loan exposure of Korean shipbuilder Hanjin to its five creditors is at $412m.
Philippine bank loans grow 16.8% to $155.85b in November
This represents a slower growth rate compared to October.
Philippine Business Bank merges with Insular Savers Bank
The deal facilitates PBB’s entry into the microfinance space.
Philippine banks scramble after Korean shipbuilder default
The country’s five biggest banks have a $412m loan exposure.
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