Philippines

The delinquency rate has been falling since the COVID-19 pandemic started.

The investment fund amount is P2.5b.

This was the highest recorded amount since the start of the COVID-19 pandemic in 2020.

Salary-backed general consumption loans jumped 68.8%.

Over 7 in 10 loans made by banks are extended to corporates– leaving 15 million SMEs and self-employed workers with little access to traditional finance.

The January to March performance was driven by the bank’s average asset base expansion, margin growth, and lower provisions.

This enables Filipinos based in Singapore to pay their bills via mobile phone.

This collaboration targets to attract new app users that will benefit from lower service fees.

New clients can open an account within five minutes with just one valid ID.

The country’s growing population will push the active user base higher.

BDO will provide banking support services to HBL customers in the Philippines.

The company is also looking forward to a Series A funding round in the second half of 2023.

The merger of the two banks would make it the largest Philippine bank in terms of assets.

GCash users can open a savings or time deposit account with no minimum balance needed.

Loan growth is expected to fall by 9% year-on-year.

The beta launch will be available for 1,000 users in Japan, Australia, and Italy.