banking - updates

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Former IMF chief Lagarde takes swipe at Trump's Twitter habits

Oct 20, 2019 - 12:13 AM

'Market stability should not be the subject of a tweet here, a tweet there,' says Christine Lagarde, who is set to head the European Central Bank

Intentional? Chinese ship in Recto Bank incident 'explicitly connected' to Beijing

Oct 17, 2019 - 11:29 AM

The Asia Maritime Transparency Initiative says its new findings strongly suggest that the Chinese ship does not operate solely as a commercial fishing ship and 'raises the question of whether the collision with the Gem-Ver was intentional'

SUNKEN. Fishing Boat Gem-Vir in the West Philippine Sea after it was attacked by a Chinese fishing vessel. Sourced photo

BPI 9-month net income jumps 29.5% to P22 billion

Oct 16, 2019 - 8:05 PM

BPI's net income from January to September is just P1 billion less than the P23.1 billion it earned during the entire 2018

BPI services down on October 19 due to system upgrade

Oct 11, 2019 - 12:52 PM

Online banking, ATMs, and other services will be temporarily unavailable


Philippines to miss 2019 economic growth target – World Bank

Oct 10, 2019 - 10:05 PM

Global trade tensions and domestic politics spoil the Philippines' dream to be among Asia's economic juggernauts

Developing country debt jumps to $7.8 trillion in 2018 – World Bank

Oct 03, 2019 - 4:45 PM

The 5% increase in the total foreign debt of developing nations in 2018 is driven by a surge in Chinese debt

(FILES) This file picture taken on September 24, 2013 shows Chinese 100-yuan (RMB) bank notes being counted at a bank in Huaibei, in eastern China's Anhui province. China's central bank on August 11, 2015 devalued its yuan currency by nearly two percent against the US dollar, as authorities seek to push market reforms and boost the world's second-largest economy. CHINA OUT AFP PHOTO / FILES

How Elizabeth Banks brought a new 'Charlie's Angels' to life

Oct 02, 2019 - 8:42 AM

The film continues the tradition of depicting female power on the big screen

DIRECTOR. Elizabeth Banks behind-the-scenes of 'Charlie's' Angels.' Photo courtesy of Columbia Pictures

Bangko Sentral hits the gas for economic growth

Sep 28, 2019 - 1:20 PM

The Bangko Sentral ng Pilipinas announces the lowering of the level of cash banks need to keep on the same week it slashed interest rates

All agreements off if Israel annexes territory, Abbas warns at U.N.

Sep 27, 2019 - 8:09 AM

'Our response, if any Israeli government is to proceed with this plan, is that all signed agreements with the government of the occupation and any obligations therein will be terminated,' says Palestinian president Mahmud Abbas

Palestinian president Mahmoud Abbas speaks at the Palestinian Peace and Freedom Forum, which was created by the Palestine Liberation Organisation's (PLO) Committee for Interaction with Israeli Society, in Ramallah in the West Bank on February 6, 2019, with the attendance of Israeli activists. (Photo by ABBAS MOMANI / AFP)

Metro Manila 'most congested city' in developing Asia

Sep 26, 2019 - 5:10 PM

Aside from the extreme congestion in Metro Manila, the Asian Development Bank says too many government agencies have overlapping functions

Bumper-to-bumper traffic is seen in front of the Iglesia ni Cristo Church along Commonwealth Avenue in Quezon City on Tuesday. A portion of the thorough fare from Sandiganbayan to Litex is closed for the whole day due to a medical mission by the INC. Photo by: JOEL LIPORADA

Higher penalties now await bank account hackers, credit card skimmers

Sep 25, 2019 - 2:05 PM

Hacking a banking system can now land you in jail for life due to a new law imposing stiffer penalties for access device fraud

ATM FEES. The central bank now makes it possible for banks to adjust ATM fees, subject to their approval. Photo from Shutterstock

ADB sees Philippines still hitting 2019 economic growth target

Sep 25, 2019 - 1:50 PM

The Asian Development Bank cuts its growth outlook for the Philippines to 6% in 2019, just clinging on to the lower end of the government's target band

Poe says lawmakers 'not in a rush' to pass fintech bill

Sep 23, 2019 - 6:45 PM

Senators recommend the creation of a task force among government agencies to study digital currencies such as Bitcoin

DIGITAL CURRENCIES. Senator Grace Poe, chairperson of Committee on Banks, Financial Institutions and Currencies, presides the senate hearing on the digital currencies and banking situations in the country on September 23, 2019. Photo by Angie de Silva/Rappler

Landbank loans to agriculture sector hit P238 billion as of July 2019

Sep 20, 2019 - 7:00 PM

Total loans grow by 8% in July, as Landbank expands direct credit to small farmers and fishers


[OPINION] It’s time to stop investing in climate change

Sep 20, 2019 - 5:28 PM

By continuing to finance coal, Philippine banks will only muddle the conscience of their many depositors who love the Earth and their fellow Filipinos

Duterte slams Lopez group anew for past DBP loans

Sep 17, 2019 - 9:08 PM

President Rodrigo Duterte launches a fresh tirade against the Lopez family, warning he might 'start to dig' up information about how DBP loans obtained by their companies were written off

President Rodrigo Roa Duterte delivers his speech during the oath-taking ceremony of the officers of the Malacañang Press Corps, Presidential Photojournalists Association, and Malacañang Cameramen Association at the Malacañan Palace on September 10, 2019. KING RODRIGUEZ/PRESIDENTIAL PHOTO

ADB president Takehiko Nakao to resign January 2020

Sep 17, 2019 - 3:45 PM

'I am announcing my resignation with a deep sense of satisfaction and gratitude. With support from staff, board members, and member governments, we have achieved many things,' says Takehiko Nakao

Ex-DFA chief Yasay fails to get CA remedy in bank fraud arrest

Sep 17, 2019 - 3:45 PM

The Court of Appeals says Yasay's petition is premature

BANK CASE. Former Department of Foreign Affairs secretary Perfecto Yasay Jr. arrives at Manila Police District Headquarters in Manila on Thursday, August 22 following his arrest for the questionable P350-million loan from the Banco Filipino Savings and Mortgage Bank. Photo by Ben Nabong/Rappler

Q&A: What would Israel annexing the Jordan Valley mean?

Sep 12, 2019 - 10:46 AM

Benjamin Netanyahu's pledge, a week ahead of a closely fought general election, is controversial but what would it actually mean?

Israeli Prime Minister Benjamin Netanyahu points at a map of the Jordan Valley as he gives a statement in Ramat Gan, near the Israeli coastal city of Tel Aviv, on September 10, 2019. - Israeli Prime Minister Benjamin Netanyahu issued a deeply controversial pledge on September 10 to annex the Jordan Valley in the occupied West Bank if re-elected in September 17 polls. He also reiterated his intention to annex Israeli settlements throughout the West Bank if re-elected, though in coordination with US President Donald Trump, whose long-awaited peace plan is expected to be unveiled sometime after the vote. (Photo by Menahem KAHANA / AFP)

Israel's Netanyahu faces criticism over annexation plan

Sep 11, 2019 - 9:27 PM

'Any Israeli decision to impose its laws, jurisdictions and administration in the occupied West Bank is without any international legal effect,' says UN spokesman Stephane Dujarric

JODRAN VALLEY. A photograph taken on September 11, 2019 shows a sign leading to the Palestinian village of Marj Ghazal in the Jordan Valley in the Israeli-occupied West Bank. Photo by Ahmad Gharabli/AFP

Petro Gazz Angels to represent PH in Taiwan tourney

Sep 11, 2019 - 2:47 PM

The 2019 PVL Reinforced Conference winners hope to bring their champion form in their first international tourney

PROMISING. The Petro Gazz Angels are ready to step into the international stage. Photo by Josh Albelda/Rappler

Anger at Netanyahu's West Bank annexation pledge

Sep 11, 2019 - 1:00 PM

(3rd UPDATE) The preelection promise draws immediate condemnation from Arab powerhouses with many warning of disastrous consequences for the stagnant Israeli-Palestinian peace process

Netanyahu vows to annex West Bank's Jordan Valley if reelected

Sep 11, 2019 - 12:20 AM

The prime minister also repeats his intention to annex Israeli settlements throughout the West Bank if re-elected

BENJAMIN NETANYAHU. Israeli Prime Minister Benjamin Netanyahu gives a statement in Ramat Gan, near the Israeli coastal city of Tel Aviv, on September 10, 2019. Photo by Menahem Kahana/AFP

Israel's Netanyahu in controversial Hebron visit

Sep 05, 2019 - 12:03 PM

The Palestinian Authority condemns Netanyahu visit as 'provocative' and politically motivated

UNDER SIEGE. Israeli Prime Minister Benjamin Netanyahu greets supporters as he leaves after an event marking the anniversary of the 1929 killing of 67 Jews by Palestinian rioters, in the West Bank town of Hebron, on September 4, 2019. Photo by Menahem Kahana/AFP

Basagan ng Trip with Leloy Claudio: Why finance experts should challenge mutual funds in PH

Aug 30, 2019 - 6:26 PM

Have you invested in mutual funds in the Philippines? This episode explains how and why you are being shortchanged.

Islamic banking now more accessible under new law

Aug 30, 2019 - 4:02 PM

Islamic banks differ from regular banks as they adhere to Shari’ah law and its economic principles

Senators want Chinese ship owner to pay damages to Gem-Ver fishermen

Aug 29, 2019 - 8:09 PM

Senator Francis Pangilinan welcomes the apology, but does not think it should be taken as a matter of fact. The apology calls Reed Bank part of the Nansha Island Group.

DAMAGED. A damaged F/B Gem-Ver arrived in San Jose, Occidental Mindoro on June 15, 2019. Photo by LeAnne Jazul/Rappler

Recto Bank incident on 'cusp of closure,' says PH envoy to China

Aug 29, 2019 - 3:26 PM

Ambassador Jose Santiago Sta Romana says while the apology is a 'breakthrough,' compensation for the aggrieved 22 fishermen of Gem-Ver is still subject to more discussions and negotiations

IN REPAIR. The FB Gem-Ver remains dry docked on the shores of Barangay San Roque, San Jose, Occidental Mindoro on June 16, 2019. Photo by LeAnne Jazul/Rappler

Gem-Ver owner, fishermen unsatisfied with China ship owner's apology

Aug 28, 2019 - 8:40 PM

'Paano na 'yung danyos perwisyo nila sa aming mga mangingisda? At lalong-lalo na po sa may-ari ng bangka?' says Bannie Condeza, one of Gem-Ver's fishermen

DAMAGED BOAT. Fishermen pull Gem-Ver towards the shore of Barangay San Roque San Jose, Occidental Mindoro on June 15, 2019 after it was sunk by a Chinese ship in the West Philippine Sea. Photo by LeAnne Jazul/Rappler

Philippines accepts apology of Chinese ship owner

Aug 28, 2019 - 7:05 PM

The Philippines welcomes the acknowledgment that compensation must be provided to the owner of Filipino fishing boat Gem-Ver

Fishermen pulls the F/B Gem-Vir, the Filipino boat sunken by a Chinese vessel near Reed Bank, towards the shore of Brgy. San Roque I, San Jose, Occidental Mindoro on June 15, 2019. Photo by LeAnne Jazul/Rappler

Carpio corrects China ship owner's apology: Recto Bank not part of Spratlys

Aug 28, 2019 - 6:50 PM

Supreme Court Senior Associate Justice Antonio Carpio says Recto Bank is within the Philippines' exclusive economic zone, 'beyond the territorial sea of any island in the Spratlys'

GEM-VER. In this photo, the damaged stern of Philippine fishing boat Gem-Ver is seen as it arrives back in its hometown of Barangay San Roque, San Jose, Occidental Mindoro. Photo by LeAnne Jazul/Rappler

SC affirms junking of graft case vs DBP, textile firm over Marcos-era behest loans

Aug 25, 2019 - 5:16 PM

The Supreme Court Third Division backs the Ombudsman's 2006 decision to dismiss the complaint filed by the Presidential Commission on Good Government

File photo by LeAnne Jazul/Rappler

Villar urges Landbank to ease loan process for sugar farmers

Aug 15, 2019 - 6:27 PM

Senator Cynthia Villar, chair of the Senate committee on agriculture, says Landbank was taking too long to process farmers' loan applications

MIFFED. Senator Cynthia Villar grills the Land Bank of the Philippines officials at the Senate hearing on the implementation of the sugar cane industry development law. Photo by Angie de Silva/Rappler

Bangko Sentral: Banks need our approval to raise ATM fees

Aug 13, 2019 - 5:45 PM

The House committee on banks and financial intermediaries is set to investigate a looming 50% increase in ATM fees

PODCAST: Gem-Ver: The men, the crash, the journey home

Aug 12, 2019 - 12:00 PM

It's been 2 months since a Chinese trawler rammed a Filipino fishing boat in the West Philippine Sea. In this podcast, Rappler revisits that harrowing night, and more.

Manhunt after stabbed Israel soldier found dead in West Bank

Aug 08, 2019 - 3:48 PM

The stabbing occurs between Bethlehem and the flashpoint city of Hebron in the West Bank

INVESTIGATION. Israeli soldiers stand guard next to the site where the body of an Israeli soldier was found with multiple stabs near the settlement of Migdal Oz in the occupied West Bank on August 8, 2019. Photo by Menahem Kahana/AFP

BPI net income soars by 24.6% to P13.7 billion in H1 2019

Aug 01, 2019 - 1:41 PM

The Bank of the Philippine Islands boasts impressive earnings as corporate, consumer, and credit card loans jump by double digits in the 1st half of 2019


Jared Kushner visits after Israel okays homes for Palestinians, settlers

Aug 01, 2019 - 8:08 AM

Kushner, US President Donald Trump's son-in-law and senior adviser, visits Jordan and Israel

(FILES) This file photo taken on May 23, 2017 shows US President Donald Trump's senior advisor Jared Kushner during a welcome ceremony at the presidential palace in the West Bank city of Bethlehem.  President Donald Trump's son-in-law, Jared Kushner, made a pre-inauguration proposal to the Russian ambassador to set up a secret, bug-proof communications line with the Kremlin, the Washington Post reported Friday evening, May 26, 2017. Kushner, then and now a close adviser to Trump, went so far as to suggest using Russian diplomatic facilities in the United States to protect such a channel from being monitored, the Post said, quoting US officials briefed on intelligence reports.    / AFP PHOTO / Thomas COEX

Eurozone growth slows to 0.2% in Q2 2019

Jul 31, 2019 - 10:00 PM

An economist says the weak data would strengthen the case of the European Central Bank to announce 'stimulus measures'

Photo from Shutterstock

FAST FACTS: What you should know about Landbank

Jul 31, 2019 - 12:42 PM

(3rd UPDATE) President Duterte threatens to shut down the government bank in his 4th SONA, saying it's acting more like a commercial bank instead of focusing on farmers and fishermen

UnionBank's H1 2019 earnings up just 2% as it shifts to digital

Jul 29, 2019 - 7:40 PM

UnionBank posts a net income of P4.8 billion in the 1st half of 2019, as it sustains growth of earning assets despite lower margins and investment in its digital transformation


BDO boasts 54% earnings growth to P20.2 billion in 1st half of 2019

Jul 26, 2019 - 2:39 PM

BDO beats conservative forecasts, growing its earnings from P13.1 billion in the 1st half of 2018 to P20.2 billion in 2019

36% of Filipinos want Chinese in Recto Bank incident sanctioned – Pulse Asia

Jul 26, 2019 - 1:02 PM

Moreover, 26% of Filipinos believe China itself must also pay for the injuries suffered by the Filipino crew and damage done to their fishing boat, according to the latest Pulse Asia survey

SANCTIONS SOUGHT. The damaged fishing boat Gem-Ver arrives at the shores of Bgy. San Roque, San Jose Occidental Mindoro on June 15, 2019. Photo by LeAnne Jazul/Rappler

Loans push Metrobank’s income up 18% in 1st half of 2019

Jul 26, 2019 - 12:45 PM

Metrobank says the double-digit growth is due to consistent loan growth, higher fee-based income, and prudent operational expenditures


More Filipinos distrust China after Recto Bank incident – survey

Jul 26, 2019 - 11:09 AM

China's overall trust rating among Filipinos sank by 13 percentage points after the incident between a Filipino boat and a Chinese ship in the waters off Palawan

"MARITIME INCIDENT." Fishing boat Gem-vir off the coast of San Jose, Occidental Mindoro. Photo by LeAnne Jazul/Rappler

Landbank turns over 354,783 hectares of land to DAR

Jul 25, 2019 - 7:50 PM

(UPDATED) The Land Bank of the Philippines, which President Rodrigo Duterte criticized in his 4th State of the Nation Address, says this turnover happened in May 2019

Landbank to submit plans for farmers after Duterte threat

Jul 23, 2019 - 8:05 PM

The Land Bank of the Philippines says it is committed to helping farmers and fishermen, a day after President Rodrigo Duterte threatened to have it abolished

Malaysia, Vietnam show PH can stand up to China

Jul 23, 2019 - 5:41 PM

'When claimants stand up for themselves and refuse to be intimidated, Beijing most often backs down rather than uses force,' says Gregory Poling of the Asia Maritime Transparency Initiative

WEST PHILIPPINE SEA. A Philippine Coast Guard ship (R) sails past a Chinese Coast Guard ship during a joint search and rescue exercise between Philippine and US coast guards near Scarborough Shoal. Photo by Ted Aljibe/AFP

Israel demolishes Palestinian homes in Jerusalem area

Jul 22, 2019 - 9:47 PM

Residents and activists are dragged out of the homes, many of which are still under construction

Duterte threatens to abolish Landbank

Jul 22, 2019 - 7:45 PM

'What the heck is wrong with you? You are supposed to finance agricultural enterprises and endeavors,' President Rodrigo Duterte tells the Land Bank of the Philippines