ONB assets rise 20% in Q3 DAVAO CITY — One Network Bank (ONB) of the Consunji group reported P28 billion in total resources as of end-third quarter this year, 20% higher than the same period last year, it said in a statement over the weekend. The bank also announced a higher equity of P4.14 billion, …
THE CENTRAL BANK unveiled on Monday fresh measures to further strengthen the Philippine banking system, including a directive for lenders to boost capital gradually and cap the value of real estate that can be used as loan collateral. In a statement, the Bangko Sentral ng Pilipinas (BSP) said its policy-making Monetary Board has approved a …
THE BANGKO Sentral ng Pilipinas (BSP) has confirmed it is introducing a higher capitalization requirement for banks within the year — a development thrift and rural bankers said could trigger a major shake-up in the industry. Existing capital rules are “under review, and the intention is to raise it, because the existing capital requirement was …
Wholistic help for farmers and fisherfolk By Ernesto M. Ordoñez |Philippine Daily Inquirer12:01 am | Tuesday, August 19th, 2014 When help is given to farmers and fisherfolk, it is best to use a wholistic approach. Some limit themselves to production. Thus, they choose cost-effective technology and provide effective training. Others know that even with this …
The Bangko Sentral ng Pilipinas is granting regulatory and rediscounting relief measures to banks with head offices and/or branches located in areas which were devastated by Typhoon “Glenda” based on Situational Report dated 24 July 2014 of the National Disaster Risk Reduction and Management Council (NDRRMC) as follows: Region Cities/Provinces National Capital Region (NCR) Caloocan …
BSP Grants Regulatory Relief to Banks Affected by Typhoon “Glenda” Read More »
THE Philippine Deposit Insurance Corporation (PDIC) and the Korea Deposit Insurance Corporation (KDIC) signed a memorandum of understanding (MOU) to foster cross-border cooperation between the two deposit insurance agencies. The MOU was signed by PDIC President Valentin A. Araneta and KDIC Chairman and President Joo Hyun Kim on July 23 at the Peninsula Manila in …
PDIC signs cross-border partnership deal with Korean counterpart Read More »
DOMESTIC BANKS must become more competitive in the face of the entry of more foreign players as well as ongoing regional integration and changes in the global environment, the chief of the Bangko Sentral ng Pilipinas (BSP) said. “Today, the Philippines is an attractive proposition to regional players given its stable economy, sound financial system, …
BSP chief urges domestic banks to become more competitive Read More »
THE BANKING industry could be opened to more offshore financial institutions within the year once a measure permitting full foreign ownership is enacted, a senior Bangko Sentral ng Pilipinas (BSP) official said. With the bill liberalizing the entry and scope of foreign banks in the Philippines “a done deal,” central bank Deputy Governor Nestor A. …
The Bangko Sentral ng Pilipinas (BSP) has approved the application of 15 banks to open more than 80 bank branches. In Circular Letter CL-2014-036, the central bank gave the go signal for 86 new bank-branch office applicants to proceed as planned and begin serving their respective client bases in the first three months of the …
Lenders add 86 more branches under footprint-expansion plan Read More »
The Bangko Sentral has revised its key reports required from banks on microfinance (MF) and related accounts to generate a comprehensive and more accurate picture of the scale and scope of banking services delivered to the micro, small and medium enterprises (MSME) in the country. The Monetary Board, in its Res. No. 893 dated 5 …
BSP Revises Reports on Microfinance and Related Accounts in FRP Read More »
Reacting to the rising trend in salary loans in terms of volume and number of accounts, the Monetary Board has approved a new Circular specifically defining salary loans and enhancing the reporting templates used by banks and non-stock savings and loan associations to accurately measure its volume. The BSP defines salary loans as “unsecured loans, …
MANILA, Philippines – Local banks may now easily extend their banking hours to provide more services to their clients after the Bangko Sentral ng Pilipinas issued new regulations that liberalized operating hours for banks. In a statement, the BSP said it had approved a new framework that makes it easier for banks to extend their …
DAVAO CITY — Consolidations and mergers among rural banks are expected as they prepare to compete with those of other countries under the Association of Southeast Asian Nations (ASEAN) economic integration next year. RELATED STORIES Myanmar’s fresh start a chance for inclusiveness, banker says Financial integration pushed Bank M&As seen accelerating Benefits seen from ASEAN …
The Monetary Board (MB) approved the adoption of the Financial Consumer Protection Framework of the Bangko Sentral ng Pilipinas (BSP) to institutionalize consumer protection as an integral component of banking supervision in the country. The new framework has been crafted based on the fundamental tenets of consumer empowerment, market conduct and collective responsibility. The Framework …
MB Approves Financial Consumer Protection Framework Read More »
MANILA, Philippines – The number of transactions made through the Bangko Sentral ng Pilipinas’ payments and settlements system fell in the last quarter of 2013, the central bank said in a report. The total volume of transactions settled and processed at the Philippine Payments and Settlements System (PhilPASS) went down four percent to 325,446 in …
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.
