ONLY RURAL and cooperative banks met the required amount of credit extended to micro-, small- and medium-scale enterprises (MSMEs) during the first quarter, central bank data showed, despite an overall increase in total loans from a year ago. Universal, commercial, and thrift banks failed to comply with the required level of lending to small …
TRADE Secretary Ramon Lopez plans to push for the establishment of a P1-billion regional credit access for micro, small and medium sized enterprises (MSMEs) to help address one of the biggest hurdles faced by local firms. This was one of the poverty-alleviation measures proposed by President Duterte during his campaign earlier this year. “I will …
The new system will ‘eliminate transport risks on the physical checks,’ said Tetangco. It will also address consumer protection issues that may come about from stolen or otherwise altered checks. MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said on Tuesday, July 12, that it was going to use a new electronic system to …
BSP: New system to shorten check clearing process to a day Read More »
PROVINCIAL borrowers can now use a mobile-based app to apply for and track loans across banks as the country moves towards better financial inclusion. The Rural Bankers Association of the Philippines (RBAP) forged a deal with Voyager Innovations, a unit of the telecommunications provider Philippine Long Distance Co. (PLDT), for the online application Lendr which …
by David Cagahastian – November 16, 2015 Finance Secretary Cesar V. Purisima said that to lower the costs of reaching out to micro-, small- and medium-sized enterprises (MSMEs), banks and other financial institutions should tap technological advances, like the increasing sophistication of mobile phones. At the launching of the Financial Infrastructure Development Network (FIDN) under …
Mobile Technology Answer to High Cost of Rural-Credit Deployment Read More »
by Chino Leyco November 15, 2015 Voyager Innovations, the digital innovations arm of PLDT and Smart, introduced Lendr, the country’s first online marketplace platform for consumer loans, to members of the Rural Bankers Association of the Philippines (RBAP) during the group’s 58th Charter Anniversary Symposium held at the Mariott Hotel, Pasay City. Lendr is a …
Voyager Innovations Launches Lendr to Rural Bank Partners Read More »
The Bangko Sentral ng Pilipinas (BSP) advises the public on the schedule of operations of banks during the four (4)-day Asia Pacific Economic Cooperation (APEC) summit. This is in light of Proclamation No. 1072 declaring 18 and 19 November 2015 as Special (Non-Working) Days in the National Capital Region (NCR); and Memorandum Circular No. 84 …
10.05.2015 The Monetary Board (MB) recently approved the liberalization of regulations on dividend declaration of banks and quasi-banks (QBs) on shares of stock and similar capital instruments. The policy amendment aligns the dividend declaration standards with international standards on the rights of shareholders in particular; holds more accountable the board of directors and management of …
BSP tightens guidelines on deposits, securities investments MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has imposed stricter guidelines on the funds received from customers for securities investments and deposits to boost efforts in protecting the welfare of financial consumers. The BSP has directed banks to segregate the funds of customers received under a …
BSP tightens guidelines on deposits, securities investments Read More »
Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. urged the country’s 514 rural banks on Monday to help the BSP make more gains in financial inclusion by reducing the number of local government units “unserved by any bank.” Tetangco said 37 percent of all the local government units nationwide are unserved until now, but the …
BSP gov to rural banks: Reach out to more ‘unserved’ towns, cities Read More »
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) is open to making loans for housing as an alternative mode of compliance for banks to the Agri-Agra Credit Reform Act in order to address the country’s housing backlog. Speaking at the Chamber of Real Estate and Builders’ Associations, Inc.’s (CREBA) Third Monthly Business Meeting, BSP …
Loans to housing sector eyed as agri-agra compliance Read More »
Housing credit continues to rise, prompting the Philippine banking industry and the Land Registration Authority (LRA) to create a system streamlining loans and mortgages documentation to protect both borrowers and financial institutions. The final version of the uniform loan and mortgage agreement (ULAMA) is coming up this week, Chamber of Thrift Banks (CTB) president Rommel …
PHL banks, BSP, LRA assure housing lenders and borrowers are protected Read More »
THE LAND Registration Authority (LRA) is set to implement a “trace-back” feature for its automated land titling system, allowing users to identify computerized records that were issued prior to the current title and verify property records’ authenticity. LRA Circular No. 04-2015, dated March 3 and published in a major newspaper on Wednesday, said the features …
PH rural bank taps Oracle’s FlexCube ABS-CBNnews.com Posted at 01/05/2015 1:19 PM MANILA, Philippines – A rural bank in northern Luzon has chosen Oracle’s FlexCube Universal Banking solution to modernize its operations. Rang-ay Bank, one of the leading rural banks established in 1956 in the Philippines, has selected Oracle FlexCube Universal Banking to help consolidate …
The mission of the Rural Bankers Association is to support the ability of its members to offer quality banking services to all their constituencies, comply with regulatory requirements, and to promote the welfare of the communities in which they operate.
