MB Approves Sanctions on Metrobank

The Monetary Board (MB) approved the imposition of sanctions on Metropolitan Bank and Trust Company (MBTC, PSE: MBT) in connection with the examination conducted by the Bangko Sentral ng Pilipinas (BSP) relating to the PhP1.75 billion fraud allegedly perpetrated by one of its officers. In determining the appropriateness of the sanctions, the MB took into […]
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Strong Domestic and External Demand Propel Business Confidence for Q4 2017

Business outlook on the economy turned more upbeat for the fourth quarter of 2017 (Q$ 2017), with the overall confidence index (CI) rising to 43.3% from 37.9% for Q3 2017, according to the Bangko Sentral ng Pilipinas (BSP). This means that the number of optimists increased and continued to be greater than the number of […]
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Foreign Portfolio Investments Result in Net Outflows in October 2017

Foreign portfolio investments registered in October 2017 reached $1.4 billion, higher by 6.8% than the $1.3 billion recorded the previous month, according to data from the Bangko Sentral ng Pilipinas (BSP). This may be attributed to investor optimism arising from the anticipated approval of the tax reform program of the government. However, the figure is […]
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BSP and MAS Forge Closer FinTech Ties

Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. and Monetary Authority of Singapore (MAS) Managing Director Ravi Menon signed a FinTech Cooperation Agreement (CA) last November 16, 2017, in Singapore, to promote innovation in financial services in their respective markets. With the CA, the authorities will be able to refer promising FinTech firms […]
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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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