Rappler's latest stories on financial services
Coins.ph gets 5 million customers in 4 years
Coins.ph becomes one of the most prominent platforms in the Philippines dealing with digital payments and cryptocurrencies
Japan punishes cryptocurrency exchanges after hack
The Financial Services Agency alleges FSHO 'does not have a proper system to monitor trading and has not given training to its employees,' while an employee of Bit Station 'diverted digital currency deposited by clients for his personal use'
LTFRB to accept franchise applications for lease-to-own cars but...
TNVS operators with lease-to-own vehicles under the Toyota Financial Services can apply for franchise
Shifting mindsets, Big Data, and mass personalization in the financial services industry
How do financial institutions stay afloat – and sail on – in the face of rapid modernization? By listening closely to their clients, says Sun Life Financial’s Mylene Lopa
#ThewRap: Things you need to know, February 19, 2017
Hello Here s a roundup of news you need to know this Sunday
Investors swarm BDO's largest stock rights offering
It is one of the biggest common equity capital raising activities in Philippine history
‘Investing for good’ in the financial services industry
Capital One Philippines isn’t just a Fortune 125 Company it is also home to Filipino talent
Metrobank extends P7B worth of loans to Globe
The loans will be used to finance Globe s capital expenditures aimed at further expanding enhancing its network
BDO completes acquisition of largest rural bank
The Henry Sy led bank cements its foothold in the Philippine banking industry by taking over Mindanao based One Network Bank
HSBC unveils radical overhaul to axe up to 50,000 jobs
UPDATED Europe s biggest bank aims to save up to 5 0 billion 4 4 billion euros in annual costs within 2 1 2 years as it seeks to boost profits and move past recent scandals
Geared up for global reform and regional integration
All things considered the Philippine financial system is in a good place today But we can’t afford to be complacent Not at all says BSP Governor Amando Tetangco Jr
Lucio Tan-owned PNB nets P5.5B in 2014
The Philippine National Bank also embarks on a rebranding program in a bid to maintain existing clientele and attract new younger customers
BPI's 2014 net income falls due to investment, lower trading gains
The BPI president says 2014 was an investment year for the bank
Big PH banks maintain sufficient capital in Q3 2014
The latest capital adequacy ratios show that universal and commercial banks have sufficient buffer against unexpected losses that may arise during times of stress the central bank says
LIST: Bank operations during Pope visit
Metro Manila and Tacloban branches of certain banks will be open during Pope Francis’ visit
BSP releases operating schedule during papal visit
The central bank issues the adjusted schedule in accordance with Malacañang’s declaration of special non working holidays in Metro Manila during Pope Francis’ visit
LIST: Limited banking hours due to Typhoon Ruby
4th UPDATE Here s a list of banks with limited operations in areas affected by RubyPH
Eastern Europeans could be behind ATM fraud – BPI
UPDATED The Bank of the Philippine Islands has information that the skimming activities are similar to what recently apprehended Bulgarians have employed
BSP amends rules on thrift banks’ FX forwards activities
The Monetary Board also approves amendments to rules to explicitly recognize the authority of thrift rural and cooperative banks to buy and sell foreign exchange
Maybank not keen on PH's Al-Amanah acquisition
The local subsidiary of Malaysia’s Maybank says an acquisition of Al Amanah the country s Islamic bank is not part of its expansion prospects at the moment
Big PH banks raise capital adequacy ratio in Q2 – BSP
Universal and commercial banks in the country are able to increase their qualifying capital despite stricter requirements under the Basel 3 framework
HSBC sets aside $378M for fine over forex scandal
The Asia focused lender sets aside the amount for a potential fine in Britain to settle allegations of foreign exchange market rigging as it posted mixed third quarter earnings
SSS eyes diversification of P3B investible funds
The Social Security System will outsource some of its investments to diversify its portfolio of about P370 billion investible funds
BPI opens representative office in Japan
The country’s oldest commercial bank opens a representative office in Japan to cater to overseas Filipino workers sending remittances back home
[Executive Edge] Empowering the unbanked
VMoney CEO Ralph Santos wants to give the unbanked in the Philippines access to financial services online
Philippines hikes key interest rates, first since 2011
The monetary board s decision is a pre emptive response to signs of inflation pressures and elevated inflation expectations a central bank statement says
BSP keeps rates steady, but hikes rate on special deposits
The central bank also raises its inflation forecasts for this year and 2015
Financial inclusion: Cornerstone of sustainable growth in Asia
Only when we see the poorest members of urban and rural societies adopt financial services can we claim any success in creating a better and more inclusive world
COL Financial posts strong profits in 2013
COL Financial s operating profits from Philippine operations went up 17 2 to a record P368 9 million
TOAP’s 2014-15 board: Fit and proper
The issues facing the new board are formidable Heading the list is how local trust players are to brace themselves for the ASEAN integration in 2015
Are you qualified to own a credit card?
Find out if you re eligible to own a credit card
Room to keep BSP rates steady 'narrowed'
We re moving into a higher interest rate environment globally the central bank chief says citing the uptick in inflation
BDO 2013 earnings hit record P22.6B
The country s largest bank by assets says loan growth and trading gains buoyed its bottom line
BSP keeps interest rates steady despite inflation rise
Inflation has been on the uptrend over the past 5 months largely due to higher food prices
BDO nets record P18.2B profit in Jan-Sept
The 9 month net income of BDO Unibank the Philippines largest bank led by Henry Sy the country s richest is up a significant 73 from P10 5 billion a year ago
Banks, other lenders relax payment rules for quake victims
Citi and BPI offer to waive late charges while Pag Ibig and NHMFC extend amortization terms to quake victims in Bohol and Cebu
BPI H1 income grows 27% to P12-B
The Ayala owned bank says its revenue growth outpaced the rise in its operating expenses
PNB offers deposit notes
The bank says proceeds will be used to fund its expansion and grow its capital base
Why OFWs are difficult market for life insurance
While Filipino OFW s stand to benefit the most from life insurance regulatory restrictions prevent local brokers from gaining access to the market
IFC rep resigns from BDO board
Farida Khambata IFC s representative to the board of Sy led BDO Unibank resigns due to a reassignment
PDIC files raps vs Exportbank officers
The state deposit insurer files a criminal complaint against the former chairman and 5 other officers of the troubled Export and Industry Bank
Metrobank Q1 income soars 163% to P4.3-B
The banking unit of tycoon George Ty saw its net income in the first quarter of 2013 nearly tripled
Citi PH named Best Bank in Asia
The Philippine unit of global bank Citigroup or Citi was named the Best Bank in the Asia Pacific region in 2012 by Asset Magazine
Banks line up for San Miguel's $1.3-B, SM's $300-M loans
About 8 banks are joining San Miguel s 1 3 billion syndicated 5 year bullet term loan while 5 have signed a 300 million 5 year term loan for SM Prime
Asians' savings to fall short in retirement - HSBC
Asians expect their savings to last only 10 years after retirement
Battered by Sandy, AIG posts $4-B loss in Q4
The massive storm Sandy that ravaged the heavily populated Northeast resulted in a pre tax catastrophe loss of 2 billion
No deal? BPI, PNB talks pass Dec. 15 deadline
The exclusivity period for the talks between the shareholders of BPI and PNB lapsed last December 15
UBS fined $47.6-M over UK's biggest fraud
Swiss banking giant UBS was hit twice over on Monday November 26 for allowing a rogue trader to commit massive fraud with British regulators imposing a nearly 50 million fine and Switzerland banning its investment bank from staging takeovers
Ayala, Lucio Tan groups in talks to create top PH bank
The Ayala group s Bank of the Philippine Islands confirms a newspaper report that it is in talks with the Lucio Tan group for a majority stake in Philippine National Bank
UBS trader who lost $2.3-B jailed for 7 yrs
The Ghanaian born banker is found guilty of two counts of fraud by a jury at Southwark Crown Court but cleared of 4 charges of false accounting
