BPI sets P100-B bond program

BANK of the Philippine Islands (BPI) has approved a new P100-billion bond program to help diversify its funding sources and boost its sustainability drive. During a regular meeting held on May 18, BPI’s board approved the issuance of up to P100 billion in notes under its new peso-denominated bond and commercial paper program. “The objective […]

G20 urges World Bank to prepare FIF Establishment: Indrawati

Washington, Apr 21, 2022 – (ACN Newswire via SEAPRWire.com) – G20 members have urged the World Bank to immediately prepare for the establishment of the Financial Intermediary Fund (FIF), Finance Minister Sri Mulyani Indrawati stated. FIF should be formed immediately in the framework of pandemic preparedness and response (PPR) in the future, the minister emphasized. […]

BI keeps stance unchanged to support economy

BANK INDONESIA kept its benchmark interest rate unchanged to support the economy’s recovery. — REUTERS INDONESIA’S central bank kept its benchmark interest rate unchanged to support the economy’s recovery, while downgrading its growth outlook and saying it will keep a watch on price pressures fueled by the Russia-Ukraine conflict. Bank Indonesia (BI) held the seven-day […]

Satellite technology seen to help banks ensure business continuity during disasters

THE CENTRAL BANK said liberalized access to satellite technology can help banks ensure continued operations during disasters. — BW FILE PHOTO LIBERALIZED ACCESS to satellite technology is expected to benefit banks and their clients as it could help ensure business continuity during disasters. “With enhanced access to satellite broadband services, financial institutions can improve their […]

JCB announces the launch of Danamon JCB Precious Credit Card

JAKARTA, Mar 17, 2022 – (ACN Newswire via SEAPRWire.com) – JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan’s only international payment brand, and PT Bank Danamon Indonesia Tbk (Danamon) are pleased to announce the launch of the Danamon JCB Precious Credit Card. Danamon JCB Precious Credit Card “Danamon understands that […]

BSP wants credit guarantee mechanisms for microfinance

PROMOTING POLICIES on guaranteed lending to low income and small entrepreneurs will be among the key points of the central bank’s financial inclusion strategy in the next six years, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said. “Under the National Strategy for Financial Inclusion 2022-2028, the BSP will give priority attention to critical […]

Filipino-owned ADAMCO raises P1B via note issuance of Development Bank of the Philippines and Security Bank

Leading agricultural machines and equipment dealer Ada Manufacturing Corp. (ADAMCO) has successfully raised P1 billion via the issuance of notes supported by state-run Development Bank of the Philippines and Security Bank Corp. The proceeds of the fund raising activity via the issuance of five-year corporate notes arranged by GIV Capital Holdings Corp. will be used […]

BSP invests in Asian Green Bond Fund

The Philippine central bank again redirected capital for sustainability initiatives by investing in the Asian Green Bond Fund of the Bank for International Settlements (BIS). Launched this year, the new fund will support green projects in the Asia-Pacific region. “The participation in the fund is expected to provide the BSP with an additional source of […]