BDO Remit Expands in Japan Via Opening of Remittance Office

Makati—(PHStocks)—BDO Remit, the remittance service brand of BDO Unibank Inc. (PSE: BDO), has opened a remittance office in Japan to widen its reach and make its service available to overseas Filipinos working and residing there. As one of the world’s largest economies, Japan has steadily become among the major sources of Overseas Filipino remittances over the years. Strategically located […]
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Personal Remittances at US$2.2B in January 2016

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Personal remittances from overseas Filipinos (OFs) increased by 3.2 percent year-on-year in January 2016 to reach US$2.2 billion, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. announced.  These flows consisted primarily of transfers from land-based OF workers with work contracts of one year or more, amounting to US$1.7 billion, as […]
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I-Remit to Launch Pick Up Anywhere Payment Facility

Pasig—(PHStocks)—Amid a more challenging business environment, I-Remit Inc. (PSE: I) is now evaluating various innovation alternatives that will make use of the latest available technologies to be able to deliver its services to overseas Filipinos and migrant workers of other nationalities. A part of this effort are the investments in information technology hardware and software needed for upgrading the […]
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Remittances for Jan-May Period Top $10B Mark

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Personal remittances from overseas Filipinos (OFs) rose by 5.5 percent year-on-year to $2.2 billion in May 2014. This was higher than the 5.2 percent growth posted in April. On a cumulative basis, personal remittances exceeded the $10 billion mark during the first five months of 2014, Bangko Sentral ng Pilipinas Governor […]
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Remittances Up 6.8% in January 2014

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP)—Personal remittances from overseas Filipinos (OFs) rose by 6.8 percent year-on-year in January 2014 to reach $2 billion, BSP Governor Amando M. Tetangco Jr. announced. The robust growth in personal remittances was driven by the steady increase in transfers of land-based workers with long-term contracts (4.9 percent), and sea-based and land-based […]
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Personal and Cash Remittances Reach New Record Highs in December 2013

Manila—(PHStocks)—Personal remittances from overseas Filipinos (OFs) registered a new record high of $2.4 billion in December 2013, up by 12.5 percent relative to the level posted in the same month last year. This marks the ninth consecutive month in 2013 that personal remittances breached the $2 billion mark, Bangko Sentral ng Pilipinas (BSP) Governor Amando […]
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Household Sector Remains as Top Net Funds Provider

Manila—(PHStocks)—Bangko Sentral ng Pilipinas (BSP) has released the 2012 Flow of Funds (FOF) Report, which presents a summary of financial transactions among the different institutions of the economy, between these institutions, and the rest of the world. It identifies which institutions are net borrowers and net lenders after a series of financial transactions for the […]
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Remittances Seen to Calm Markets, Support Peso

Cash from overseas Filipino workers (OFWs) will continue to serve as one of the main buffers of the Philippine economy from possible shocks caused by the shifting monetary policy settings in the United States. According to Singaporean bank DBS, remittances from OFWs, which are the Philippines’ largest source of foreign exchange income, would serve as […]
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