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Rappler's latest stories on banks


Virtual bank ING offers high savings interest rate of 2.5%

May 21, 2019 - 8:45 PM

Many Filipinos are still wary of digital banking, but ING Bank's high interest rate for savings accounts might convince some to make the shift

Bangko Sentral shuts down Rural Bank of Basey in Samar

May 20, 2019 - 4:55 PM

The Rural Bank of Basey is the fifth bank closed by the Bangko Sentral ng Pilipinas in 2019

CLOSING DOWN A BANK. The Bangko Sentral  ng Pilipinas closes down the Rural Bank of Basey. Rappler file photo

Albay bank runs out of small bills few days before elections

May 12, 2019 - 4:00 PM

Make a guess why this bank has released small bills worth up to P100 million just before the May 13 elections

Bank schedules on Philippine election day, May 13

May 11, 2019 - 5:20 PM

Here are advisories of banks for the 2019 midterm polls on Monday, May 13

LOOK: Tyra Banks is back on the ‘Sports Illustrated’ swimsuit cover

May 09, 2019 - 12:05 PM

‘You ARE friggin’ fierce no matter what anybody says,’ says the queen of smize

COMEBACK. Tyra Banks returns to the cover of the Sports Illustrated Swimsuit edition. Screenshot from

SC: Release P747-M retirement perks of ex-DBP employees

May 05, 2019 - 1:59 PM

The Supreme Court grants a petition questioning the Commission on Audit's notice of disallowance on the Development Bank of the Philippines' retirement program

Image from Wikicommons

'Pinch-me moment': Tyra Banks interviews Catriona Gray for 'V' magazine

May 02, 2019 - 11:21 PM

The supermodel and producer interviews Catriona for 'V' magazine

Scandal-hit Aussie banks earmark billions to repay customers

May 02, 2019 - 6:00 PM

The National Australia Bank alone announces it set aside Aus$1.1 billion (US$770 million) to reimburse customers, after a government probe found rampant malpractice

Two people use National Australia Bank (NAB) ATMs in Melbourne on May 2, 2019, as the NAB revealed that in the last six months it had put aside 368 million US dollars for "customer-related remediation costs," bringing the total provisions to 770 million. - Australia's big banks -- once among the most profitable in the world -- are being forced to amass war chests worth billions of dollars to reimburse customers for years of dodgy fees. (Photo by William WEST / AFP)

BPI moves past system upgrade birth pains

Apr 25, 2019 - 4:35 PM

Bank of the Philippine Islands president Cezar Consing promises better services, following system upgrade problems that angered and inconvenienced clients

Bangko Sentral looks into Luzon earthquake's impact on banks

Apr 23, 2019 - 7:10 PM

Several banks in Luzon were temporarily closed due to the strong earthquake

India's debt-stricken Jet Airways suspends all operations

Apr 17, 2019 - 11:35 PM

The airline was once India's second-biggest by market share but is on the brink of collapse with debts of more than $1 billion

Bank schedules for Holy Week 2019

Apr 17, 2019 - 3:30 PM

Here are the operating hours of banks during Holy Week

Philippines eyes better ease of doing business ranking

Apr 16, 2019 - 8:00 PM

Trade Secretary Ramon Lopez says the Philippines is aiming for a ranking higher than 95th, after accomplishing 33 out of 43 planned reforms

Photo from Shutterstock

No payday yet for BPI clients as system problems drag on

Apr 13, 2019 - 1:15 PM

(UPDATED) No suweldo yet? BPI assures affected customers that they will receive their salaries within the day.

Cyclone Idai damages estimated at $2 billion: World Bank

Apr 13, 2019 - 10:02 AM

"To date, about three million people have been affected, with near total damage in the worst affected areas," says the World Bank

AFTERMATH. Fernando Joao Sengelani helps to clean his friend's shop in Buzi, Mozambique, on March 23, 2019, after the area was hit by the Cyclone Idai. Photo by Yasuyoshi Chiba / AFP

Brexit delay averts 'terrible outcome' – IMF's Lagarde

Apr 12, 2019 - 12:57 PM

However, the IMF chief says: 'It's obvious that it's continued uncertainty and it does not resolve, other than by postponing what would have been a terrible outcome'

ARAB DEBT. Christine Lagarde warns of high public debt among Arab nations. File photo courtesy of the IMF

BPI services unavailable or limited due to 'systems upgrade issues'

Apr 11, 2019 - 2:30 PM

'Financial transactions using our banking channels are temporarily unavailable or have limited services, while branches are open to serve on a limited capacity,' says the Bank of the Philippine Islands

Bank schedules: April 9, Araw ng Kagitingan

Apr 05, 2019 - 2:51 PM

Bookmark this page for the operating hours of banks during the national holiday on Tuesday, April 9

Philippine economy may be one of few winners in 2019 regional slowdown

Apr 03, 2019 - 3:40 PM

The Asian Development Bank trims its 2019 growth prospects for the Philippines, but expects it to be among the few countries which may beat their 2018 figures

Palestinian killed in clash with Israeli military – ministry

Apr 02, 2019 - 3:33 PM

The Israeli army says it will investigate the incident

POSITION. Israeli soldiers gather at a position over an earth barrier along the border with the Gaza Strip in the southern Israeli kibbutz of Nahal Oz across the border from the Gaza Strip on March 30, 2019, as Palestinians (background) protest to mark the first anniversary of the 'March of Return' protests. Photo by Jack Guez / AFP

[ANALYSIS] How the Marcos-World Bank partnership brought PH economy to its knees

Apr 02, 2019 - 9:15 AM

The World Bank provided dictator Ferdinand Marcos a curtain of international legitimacy behind which he and his cronies plundered the public till

World Bank cuts 2019 Philippine growth outlook again

Apr 01, 2019 - 2:30 PM

The World Bank says the Philippines' delayed 2019 budget and El Niño are likely to hurt economic growth

Eurozone 'not resilient enough' to weather another economic crisis – IMF chief

Mar 28, 2019 - 9:33 PM

IMF Managing Director Christine Lagarde says the currency union 'is not resilient enough' to emerge unscathed from 'unexpected economic storms'

LAGARDE. International Monetary Fund chief Christine Lagarde in Frankfurt am Main, Germany, April 5, 2016. File photo by Daniel Roland/AFP

Loan default? DOF says Reed Bank gas can be sold to raise funds

Mar 27, 2019 - 9:10 PM

Finance Undersecretary Bayani Agabin says that in the 'unlikely' event of a loan default, China cannot claim Reed Bank. Instead, the Philippines can sell gas and use the cash to pay Beijing.

Reed Bank not collateral to China loan? Carpio rebuts Duterte gov't

Mar 27, 2019 - 10:20 AM

Senior Associate Justice Antonio Carpio counters the claims of government officials who sought to downplay his warning against the repercussions of a government loan from China

LEGAL VIEWS. Presidential Spokesperson Salvador Panelo (left) and Senior Associate Justice Antonio Carpio have clashing views on a provision in the Chico River project loan agreement. Carpio photo from Senate PRIB

Philippines has no say in loan deals with China – Panelo

Mar 25, 2019 - 2:50 PM

The Duterte administration has no choice but to abide by China's terms since it is only the borrower while China is the lender, says Malacañang

Chinese President Xi Jinping (L) and Philippines' President Rodrigo Duterte (R) during an exchange of agreements at the Malacanang Presidential Palace in Manila on November 20, 2018. - Chinese President Xi Jinping called his visit on November 20 to long-time US ally the Philippines a "milestone", as he aimed to boost blossoming ties on the promise of billions of dollars in backing for mega-projects. Photo by Mark Cristino/Pool/AFP

ADVISORY: Select BPI services won’t be available April 5-7

Mar 22, 2019 - 11:32 PM

BPI encourages clients to ‘plan their transactions accordingly’ as the bank undergoes ‘a major systems upgrade’

Carpio raises alarm over Chico River deal: China 'can take' gas-rich Reed Bank

Mar 22, 2019 - 7:17 PM

If the Philippines can't pay off its loans to China, Supreme Court Senior Associate Justice Antonio Carpio says 'for sure, we will lose in all arbitrations'

NO CHANCE OF WINNING. Supreme Court Senior Associate Justice Antonio Carpio says the Philippines will have no chance of winning in case of arbitrations over Chinese loan deals. File photo by Angie de Silva/Rappler

Germany's two top banks launch merger talks to create national 'champion'

Mar 17, 2019 - 10:45 PM

German bank Commerzbank says it 'agreed today to start discussions with an open outcome on a potential merger' with Deutsche Bank

MERGER? Germany's top lenders, Deutsche Bank and Commerzbank, plan to launch formal exploratory talks toward a possible merger, national media reported on March 17, 2019, following months of preliminary negotiations. AFP File photo

RCBC files defamation charges vs Bangladesh Bank

Mar 12, 2019 - 9:00 PM

After Bangladesh Bank filed a case against RCBC in February, the Yuchengco-led bank fights back with a defamation lawsuit

The logo of the RCBC bank is seen at the RCBC building in Manila's financial district on March 11, 2016. - A Philippine bank said it is investigating an 81 million USD deposit after Bangladesh accused Chinese hackers of stealing from a US account and illegally moving the funds online to the Philippines and Sri Lanka. (Photo by NOEL CELIS / AFP)

How persistence got Metrobank its own banking license

Mar 11, 2019 - 10:57 AM

George Ty waited years just for the opportunity to set up Metrobank. Learn more about his story of determination

Hamas calls for Israel to be held accountable after U.N. Gaza probe

Feb 28, 2019 - 11:02 PM

A senior official for the Islamist movement that rules the Gaza Strip calls on 'the international community to hold the Israeli occupation accountable for the war crimes that it continues to commit against the Palestinians'

AFTERMATH. A man inspects the damage at a site targeted by an Israeli air strike a day before in Khan Younis in the southern Gaza strip on May 30, 2018. Photo by Mahmud Hams/AFP

BDO boasts P32.7-billion net income, beats target in 2018

Feb 26, 2019 - 4:25 PM

BDO Unibank's net income in 2018 is 17% higher year-on-year and surpasses its full-year guidance of P31 billion

France's Societe Generale to cut 1,500 jobs

Feb 23, 2019 - 11:29 PM

Citing internal bank documents, Le Figaro says Societe Generale to cut 1,500 job worldwide, with around 700 of them in France

CUT DOWN. A view of the headquarters of French bank Societe Generale in London. File photo by Justin Tallis/AFP

BPI net income inches up to P23.08 billion in 2018

Feb 20, 2019 - 5:30 PM

The Philippines' 3rd largest bank reports slightly higher earnings in 2018 amid the tightening of the central bank and high inflation

New law gives Bangko Sentral more powers

Feb 18, 2019 - 12:55 PM

The Bangko Sentral ng Pilipinas now has supervisory powers over money service businesses, credit granting businesses, and payment system operators

VERY STRONG. The central bank hikes interest rates again amid stubbornly high inflation. Rappler file photo

World Bank leadership search likely to end with U.S. candidate – again

Feb 05, 2019 - 2:45 PM

The World Bank has been led by an American ever since it was founded in the aftermath of World War II. Will this change?

A person walks by the building of the Washington-based global development lender, The World Bank Group, in Washington on January 17, 2019. - World Bank current President Jim Yong Kim announced on January 7, 2019, that he would cut short his tenure as president more than three years before his second term was to end. The World Bank Board said it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April 2019. (Photo by Eric BARADAT / AFP)

U.S. Federal Reserve assists Bangladesh over cyberheist case vs RCBC

Feb 02, 2019 - 6:47 PM

'This agreement demonstrates that the New York Fed and Bangladesh Bank are aligned in the pursuit of recovering the funds and directing litigation against those who were complicit in or benefitted from the fraud,' says the US Federal Reserve Bank and Bangladesh's central bank

CENTRAL BANK. A cornerstone in the Federal Reserve Bank of New York building is seen on July 29, 2011 in New York City. Andrew Burton/Getty Images/AFP

Turkey denounces Israel's decision over Hebron monitoring

Feb 02, 2019 - 4:29 PM

Turkey has observers in the Norway-led team tasked with promoting security for Palestinians in Hebron, which is holy to both Muslims and Jews and has been a flashpoint in the Israeli-Palestinian conflict

CONFLICT. A Palestinian boy sits on a chair with a national flag as Israeli authorities demolish a school site in the village of Yatta, south of the West Bank city of Hebron and to be relocated in another area, on July 11 2018. File Photo by Hazem Bader/AFP

Bangladesh sues RCBC over $81-M cyberheist

Feb 01, 2019 - 8:22 PM

RCBC dismisses the suit as a 'political stunt'

U.S. banks shifting some London staff ahead of Brexit deadline

Feb 01, 2019 - 8:39 AM

US banks are transferring some London staff to Continental Europe and drawing up contingency plans in case of a 'hard' Brexit

U.S. hands bank accounts to Venezuela's Guaido

Jan 29, 2019 - 11:13 PM

Secretary of State Mike Pompeo has signed off on the order for Juan Guaido to control holdings in the Federal Reserve Bank of New York and federally insured banks

INTERIM. In this file photo, Juan Guaido speaks to the crowd during an extraordinary open meeting in front of the headquarters of the United Nations Development Programme in Caracas on January 11, 2019. File photo by Yuri Cortez/AFP

Ex-RCBC manager Maia Deguito asks Makati court to reverse conviction

Jan 28, 2019 - 8:45 PM

Maia Deguito, who was found guilty of money laundering, says the prosecution failed to present proof that she had full and prior knowledge of the illegal source of funds

APPEAL. Maia Deguito, former manager of the Rizal Commercial Banking Corporation branch in Manila's financial district, gestures as she answers a question during a senate hearing in Manila on April 5, 2016. File photo by Noel Celis/AFP

Mixed emotions in Germany as 500-euro note bows out

Jan 27, 2019 - 8:45 PM

The 500-euro note is being phased out after research linked its use to money laundering, tax evasion, and terrorism financing

A person presents several 500 Euro notes on February 12, 2016 in Paris. - The European Central Bank will take a decision soon on whether to keep printing 500-euro banknotes, with the arguments for doing so becoming "less and less convincing", a top-ranking official said on February 11, 2016. (Photo by MIGUEL MEDINA / AFP)

Tyra Banks still isn't over Catriona Gray's lava walk

Jan 20, 2019 - 3:29 PM

The Lava Walk meets the Volcano Strut

DOLE to assist 3,800 Hanjin workers

Jan 15, 2019 - 9:43 PM

Labor Secretary Silvestre Bello III says Hanjin workers will be receiving separation pay, and will be profiled to see if they can get jobs in government projects

AID. The labor department will be assisting thousands of Hanjin workers after the South Korean shipbuilder went bankrupt. Photo from HHIC-Phil website

Hanjin crisis threatens banks' credit ratings – Moody's

Jan 15, 2019 - 5:15 PM

(UPDATED) Debt watcher Moody's says the loan exposure of 5 Philippine banks is a credit negative and will drive credit costs higher

Ivanka Trump to help U.S. choose candidate for World Bank

Jan 15, 2019 - 3:22 PM

Jessica Ditto, the White House Deputy Director of Communications, says reports that Ivanka Trump 'is under consideration are false'

IVANKA. In this file photo, Ivanka Trump walks through the lobby of Trump Tower on November 21, 2016 in New York City. File photo by Spencer Platt/Getty Images/AFP

Banks downplay Hanjin crisis impact

Jan 14, 2019 - 3:10 PM

The Bangko Sentral ng Pilipinas says the total exposure caused by the bankruptcy of Hanjin Heavy Industries and Construction Philippines is only 0.24% of all loans in the country's banking system