Philippines
Philippine central bank achieves digital retail payments target
Philippine central bank achieves digital retail payments target
As of 2023, 52.8% of monthly retail payments are made digitally.
PH central bank welcomes new anti-financial account scamming law
It authorises the BSP to investigate cases violating law, amongst others.
Philippine central bank rolls out Intraday Settlement Facility
The ISF is designed to support a paperless process.
RCBC unable to sustain improved capital amidst bad loans: Moody’s
Its NPL ratio is “one of the weakest” amongst its domestic peers, Moody’s said.
GoTyme Bank added 1.7 million new customers in H1
It now holds a total of $281.21m (PHP17b) in deposits.
Philippine regulators amend FX regulations, set penalties
A maximum penalty of $17,130 is set for each transactional violation.
Philippine remittances up 3.7% to $2.88b in May
Cumulative personal remittances rose by 3% during the month.
Philippine banks’ extended 10.1% more loans in May
Loans to residents rose 10.2% and consumer loans jumped 25.6%.
Asian Banking & Finance and Insurance Asia Forum 2024 arrives in Manila this October
Join us as we chart the course for a resilient, innovative, and thriving future in the financial sector.
How GoTyme kiosks transformed grocery stores into banking hubs
The digital bank onboarded two-thirds of its 3.4 million users through supermarket kiosks.
BDO wins big at the Asian Banking & Finance Awards 2024 with groundbreaking innovations
Pioneering financial education, wealth management excellence, and cutting-edge retirement solutions propel BDO to the forefront of the banking industry.
Fintech Paywatch secures $30m in series A funding round
Vanderbilt University and Third Prime led the investment round.
Overseas Filipinos’ personal remittances up 3.1% in April
Remittances from the US, Saudi Arabia, and Singapore all grew.
Alipay+ and GHL enable cross-border payments in the Philippines
Mobile wallets include AlipayHK, KakaoPay, Touch ‘n Go, and Alipay.
Philippines' liquidity at 5.6% YoY in April
It was slower than the 5.7% YoY in March.
Filipinos collectively spent 42 years on digital lending apps in 2023
About 63.4% of the time was spent on platforms offering personal loans.
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