BSP raises capital requirement for rural banks

THE Bangko Sentral ng Pilipinas has approved an increase to the minimum capitalization of rural banks.The BSP said the move, which is part of the Rural Bank Strengthening Program (RBSP), will enable rural banks to enhance risk management systems, upgrade resources and manage operational costs, meet prudential standards and accelerate digital transformation.The minimum capital level […]

Moody’s affirms China Bank’s credit rating

MOODY’S Investors Service has maintained China Banking Corp.’s (China Bank) Baa2 credit rating with a stable outlook, citing the lender’s strong capitalization and profitability. “The international credit watcher cited stable capitalization and profitability, which support business expansion, and sound liquidity as China Bank’s credit strengths,” the bank said in a disclosure to the local bourse […]

Landbank launches P1B loan facility for rural banks to go digital

THE Land Bank of the Philippines (Landbank) is rolling out a P1 billion lending program to empower rural banks to digitalize their banking operations to reach and service more underserved and unbanked Filipinos.Through the Digitalization of Countryside Financial Institutions (Digi-CFI) Lending Program, Landbank will finance digitalization projects, including payment for subscription or licensing fee for […]

Government bank opens P1-billion loan program for rural banks going digital

LAND BANK of the Philippines (LANDBANK) has launched a P1-billion lending program to digitalize the banking operations of countryside financial institutions in order to reach more unbanked Filipinos. This will be done through its Digitalization of Countryside Financial Institutions lending program, where the bank will finance digitalization projects, including paying for subscription or licensing fees […]

Banking groups hope incoming administration can address economic risks, industry concerns

BANKING INDUSTRY GROUPS hope the next administration headed by former Senator Ferdinand R. Marcos, Jr. can ensure the financial system will remain stable by addressing key economic concerns, including inflation and the impact of the coronavirus pandemic. “We have a generally peaceful and orderly election that is positive for the economy,” Bankers Association of the […]