BDO Receives Gold Hall of Fame Award for Remittance Service

Makati—(PHStocks)—The Bangko Sentral ng Pilipinas (BSP) has honored BDO Unibank Inc. (PSE: BDO) with a “Gold Hall of Fame” accolade in yesterday’s BSP Stakeholders Awards. The bank, which won its first Hall of Fame in 2010, was conferred the Gold Award after it was declared the “Top Commercial Bank that Generated the Largest Overseas Filipino […]
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Philippines Registers Lower Net Liability Position as of End-March 2017

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—The country’s net liability position decreased from $30.6 billion in end-December 2016 to $27.5 billion as of end-March 2017 following an increase (1.3 percent) in total external financial assets and a marginal decrease (0.5 percent) in external financial liabilities. The country’s net liability position improved notwithstanding the lingering volatility in the […]
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Residential Real Estate Prices Up 1.1% in 1Q 2017

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Residential real estate prices went up by 1.1 percent in the first quarter of 2017, as the Residential Real Estate Price Index (RREPI) rose to 117.2 from 115.9 for the same quarter a year ago. The year-on-year growth in residential real estate prices in 1Q 2017 was slightly higher compared to […]
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BSP Issues Guidelines on Reporting Standards for Banks

Manila—(PHStocks)—The Bangko Sentral ng Pilipinas (BSP) recognizes that accurate and timely information from banks facilitates the proper conduct of monetary policy and effective banking supervision. Such quality information also enables banks to make better informed business decisions. In line with this, the Monetary Board approved the issuance of a Circular setting forth BSP’s expectation on […]
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BSP Establishes Credit Surety Fund in Tacloban and Mandaue

Manila—(PHStocks)—The Bangko Sentral ng Pilipinas (BSP) launched two more Credit Surety Funds (CSFs), the Tacloban City CSF on 26 June 2017 at the Patio Victoria, San Jose,  Tacloban City, and the Mandaue City CSF on 27 June 2017 at the Big Hotel, NRA (Parkmall Drive), Mandaue City, Cebu. Leading the signing of the Memoranda of Agreement […]
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BSP and IFC Sign MOU to Strengthen Governance in Banking Sector

Manila—(PHStocks)—The Bangko Sentral ng Pilipinas (BSP) and International Finance Corporation (IFC), a member of the World Bank Group, signed a Memorandum of Understanding (MOU) on 26 May 2017 to promote and support capacity building of BSP, its supervised institutions and stakeholders in the adoption of good Environmental and Social Governance (ESG) and Corporate Governance (CG) […]
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Outstanding External Debt Declines Further in 1Q 2017

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. announced that outstanding Philippine external debt stood $73.8 billion as of end-March 2017, reflecting a decline of $958 million (or 1.3 percent) from the $74.8 billion end-December 2016 level. The decline in the debt levels during the first quarter resulted mainly from: (a) prior periods’ […]
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January to April 2017 Remittances Reach $10B

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Personal remittances from Overseas Filipinos (OFs) amounted to $10 billion for January to April 2017, registering 4.7 percent year-on-year growth, BSP Governor Amando M. Tetangco, Jr. announced today. Personal remittances from land-based workers with work contracts of one year or more aggregated $7.8 billion while those from sea-based and land-based workers […]
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