Finance Secretary Carlos Dominguez III let his successor know how good he was at his job on the eve of his last day in office.
Outgoing Finance Secretary Carlos Dominguez III said his successor, Bangko Sentral ng Pilipinas Governor Benjamin Diokno, is in for sleepless nights and non-stop work in his new role.
The Philippine peso is seen to slip further against the US dollar as central banks continue to hike key rates to help address the elevated inflation rate and to withdraw pandemic-related measures. On Friday, the local currency almost touched the 55-level against the greenback when it depreciated to 54.999 mid-trade. It finished the week at […]
Bank of Commerce started the year strong with first quarter earnings growing more than two-fold to P360.59 million on the strength of its core business activities on lower provisions for losses. Net interest income rose 6.5 percent to P1.47 billion, driven by the growth in earning assets. Interest on investments as well as assets jumped […]
The peso slumped to its weakest level in over 16 years ahead of the Bangko Sentral ng Pilipinas policy meeting and largely due to the hawkish remarks of the Federal Reserve. The peso declined to 54.47 against the US dollar on Wednesday, its weakest since Nov. 21, 2005 when it closed at 54.74. It fell […]
By Eileen Mencias Bangko Sentral ng Pilipinas Governor and incoming Finance Secretary Benjamin Diokno remains the highest paid employee in government, earning P41.91 million in 2021. According to a report on salaries and allowances of the Commission of Audit, BSP officials including members of the Monetary Board were the highest paid in government service, occupying […]
An economist has raised the possibility of a 50 basis points (bps) increase in the Bangko Sentral ng Pilipinas (BSP) key rates next week following the 75 basis points increase in the Federal Reserve’s rates on Wednesday. The BSP’s policy-making Monetary Board (MB) will have its rate-setting meeting on June 23. In his report on […]
An infrastructure watchdog is calling on the Bangko Sentral ng Pilipinas to shut down the operations of the virtual currency trading app Binance due to its supposed lack of registration documents. In a June 15 letter to BSP, Infrawatch PH said BSP should look into Binance’s operations in the Philippines and order the suspension of […]
The asset quality of the country’s banking system is seen to strengthen further as market conditions improve, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. In a virtual briefing, Diokno said total assets of the universal and commercial banks (U/KBs) rose 8.2 percent year-on-year as of end-April this year. “The BSP expects further […]
With Covid-19 crippling many small businesses, the pawnbroking industry has seen a surge in demand for loans as more people liquidate items for fast cash. In a virtual briefing Thursday, the Bangko Sentral ng Pilipinas reported that loans provided by pawnshops increased by P4 billion last year. Dindo Santos, BSP Financial Supervision Department 9 director, […]