Archive

UnionBank Investment Management and Trust Corp. Diversifies into Retail Sector

UnionBank Investment Management and Trust Corporation (UBIMTC), the standalone trust corporation of Union Bank of the Philippines, Inc., is set to expand its assets under management (AUMs) by broadening its client base and introducing new products tailored to retail investors.

Read More

BSP Cancels Nikko Mart Registration Amid Oversight on Money Service Businesses

The Bangko Sentral ng Pilipinas (BSP) has recently revoked the registration of Nikko Mart, a money changer and foreign exchange dealer, as part of its ongoing efforts to oversee money service businesses (MSBs) more stringently. This revocation marks the first

Read More

GoTyme Counters Claims of Substantial Losses, Cites Growth and Adoption Metrics

In response to a report published by an online news portal claiming GoTyme Bank faced considerable losses in 2023, the digital bank has labelled these assertions as “incomplete, sensationalised, and misleading.” GoTyme, a venture between the Gokongwei Group of Companies

Read More

Security Bank Predicts Profit Growth; 4 New Banking Apps to Launch in 2024

Security Bank Corp. is poised for an uplift in profitability in the coming year, buoyed by robust growth in its lending operations and strategic investments in technology and infrastructure. At a recent roundtable with journalists, Security Bank Executive Vice President

Read More

SEC Flags eToro as Unauthorised for Investment Offerings in the Philippines

The Securities and Exchange Commission (SEC) of the Philippines has issued a warning to the public regarding eToro, an online investment trading platform that is not authorised to sell or offer securities in the country. The notice highlights the importance

Read More

UnionDigital Bank to Grow Loan Portfolio to ₱40 Billion, Introduce Virtual Cards

UnionDigital Bank, Inc., the digital banking division of Union Bank of the Philippines, aims to elevate its loan portfolio to nearly P40 billion this year through the introduction of new financial products, including an expanded loan selection and virtual cards.

Read More

GCash Lending Unit Fuse Reaches Landmark P118 Billion Loan Disbursements

Fuse Lending, Inc., the lending division of GCash, has just reached a sizable milestone by disbursing loans exceeding P118 billion as of the close of 2023. This is a major increase from the P50 billion disbursed in 2022, marks a

Read More

RCBC ATM Go Expands Access with QR-based Cardless Cash Withdrawals

The Rizal Commercial Banking Corporation (RCBC) has recently launched a QR-based cardless withdrawal facility as part of its RCBC ATM Go service. This initiative is aimed at enhancing the availability of digital financial services in areas of the Philippines that

Read More

BNPL BillEase Reports Double Revenue, Loan Disbursement Growth in 2023

BillEase, a consumer finance and buy now, pay later application operating in the Philippines, has released its preliminary unaudited financial results for 2023, indicating a period of considerable growth. The company reported that its revenue reached US$57 million and net

Read More

Salmon Group and AllBank Unite to Broaden QR Payments Reach in the Philippines

The Salmon Group has partnered with AllBank (A Thrift Bank), Inc. to introduce a QR Ph-enabled payment system aimed at simplifying repayments for financial products, signalling a noteworthy shift in transaction methods. Leveraging Salmon Group’s expertise in fintech and consumer

Read More