Various

Digital PERA Contributors Triple as More Filipinos Set Aside Funds for Retirement

The number of Personal Equity and Retirement Account (PERA) contributors almost tripled two years after the Bangko Sentral ng Pilipinas (BSP) launched the Digital PERA in September 2020. The Digital PERA is an online one-stop shop where investors can open

Read More

Ayala’s BPI and Gokongwei-Led Robinsons Bank to Complete Merger by 2023

The Ayala-led Bank of the Philippine Islands (BPI) has inked a deal for a merger with the Gokongwei-led Robinsons Bank Corporation (RBC). According to CNN Philippines, both entities are aiming to finalise the merger before the end of 2023 as

Read More

BSP Issues ESG Guidelines to Push for Sustainable Investment Activities

The Bangko Sentral ng Pilipinas (BSP) has issued guidelines to banks on the integration of sustainability principles for investment activities. Banks are expected to consider their sustainability objectives in their investment activities and ensure that such investment contributes to sectors

Read More

Citi Wraps up Sale of Philippines Consumer Business to UnionBank for US$700 Million

Citi announced that it has completed the sale of its Philippines Consumer Business to UnionBank of the Philippines. The deal is expected to be worth approximately US$700 million. The transaction covers Citi’s local credit card, unsecured lending, deposit and investment

Read More

ADB Helps Asian Cities Tap Private Sector Financing to Meet Their Climate Goals

The Asian Development Bank (ADB) has launched a new initiative to provide direct advisory support to help cities across Asia and the Pacific to meet their climate resilience goals while improving their infrastructure and urban services. The Creating Investable Cities

Read More

BSP Now on Its Third Phase of Sustainability-Related Regulations

The Bangko Sentral ng Pilipinas (BSP) is now on its third phase of sustainability-related regulations with the recent release of draft guidelines on the integration of sustainability principles in banks’ investment activities. The central bank said that the finalisation of

Read More

Demand for Sustainable Finance on the Rise in APAC

Across Asia-Pacific (APAC), sustainable finance services are growing in popularity among consumers. But despite rising demand for greener and more sustainable products, skepticism remains over how strongly banks are committed to their sustainability agenda. This is according to a new

Read More

Diokno Steps Down to Welcome Medalla as New BSP Governor

Former Bangko Sentral ng Pilipinas’ (BSP) Governor has stepped down to hand over the leadership of the central bank to Felipe M. Medalla. A Monetary Board member since 2011, Governor Medalla is a seasoned economist and professor whose career in

Read More

ING Set to Shutter Its Philippines’ Retail Banking Business Before the Year Ends

ING announced that it will leave the retail banking market in the Philippines before the end of 2022. It will, however, continue to invest in its wholesale banking business and global shared services operations in the Philippines. According to ING,

Read More

BSP Names Bernadette Romulo-Puyat as New Deputy Governor

The Bangko Sentral ng Pilipinas (BSP) has named Bernadette Romulo-Puyat as its newest Deputy Governor (DG) who will be assuming office today. Sec. Romulo-Puyat will be the fifth DG of the BSP, joining DG Francisco Dakila Jr. of the Monetary

Read More