BSP approves 3% cap on credit card rate

THE Monetary Board decided to adjust the ceilings on credit card transactions by increasing the maximum interest rate or finance charge imposed on a cardholder’s unpaid outstanding credit card balance by 100 basis points (bps) or from two percent to three percent per month. Meanwhile, the existing ceiling on the monthly add-on rate that credit […]

AEON Credit Revenue of First Nine Months of FY2022/23 Up by 15.2% to HK$887.4 million following Improved Market Sentiment and Successful Mass Promotion Activities

HONG KONG, Dec 21, 2022 – (ACN Newswire via SEAPRWire.com) – AEON Credit Service (Asia) Company Limited (“AEON Credit” or the “Group”; Stock Code: 00900) today announced its results for the nine months ended 30 November 2022 (the “reporting period” or “nine months of FY2022/23”) During the reporting period, the Group’s revenue rose by 15.2% […]

AEON Credit Secures its Framework for Sustainability-Linked Loans, Strengthens and Advances its Sustainability Pledge

HONG KONG, Nov 30, 2022 – (ACN Newswire via SEAPRWire.com) – AEON Credit Service (Asia) Company Limited (“AEON Credit” or the “Group”; Stock Code: 00900) today announced that it has secured its sustainability-linked loan framework and entered agreements for three sustainability-linked loans (the “Loans”), with Mizuho Bank, Ltd., Hong Kong Branch, MUFG Bank, Ltd., Japanese […]

S&P affirms Philippines’ investment grade rating

S&P GLOBAL RATINGS affirmed on Thursday the Philippines’ investment grade rating, amid the economy’s continued recovery from the pandemic. “The Philippines’ economy is rebounding healthily, spurred by strong domestic demand as the country lifts mobility restrictions and fully reopens… We affirm our ‘BBB+’ long-term and ‘A-2’ short-term sovereign credit ratings on the Philippines,” it said […]

JCB and East West Banking Corporation announce the launch of EastWest JCB Credit Card

TOKYO & MANILA, Nov 10, 2022 – (JCN Newswire via SEAPRWire.com) – JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan’s only international payment brand, and East West Banking Corporation announce the launch of EastWest JCB Credit Card, a first for JCB in the Philippines in 25 years. EastWest JCB Gold […]

Fitch Ratings keeps ‘negative’ PHL outlook

FITCH RATINGS affirmed the Philippines’ investment grade rating and kept the “negative” outlook, amid concerns over the impact of rising interest rates, soaring inflation and slowing global demand on the economy’s recovery. Fitch on Thursday said it maintained the Philippines’ long-term foreign currency issuer default rating at “BBB,” as this “balances strong growth, external finances […]

AEON Credit 1H2022 Revenue Up by 11.8% to HK$571.7 Million

HONG KONG, Sep 26, 2022 – (ACN Newswire via SEAPRWire.com) – AEON Credit Service (Asia) Company Limited (“AEON Credit” or the “Group”; Stock Code: 00900) today announced its interim results for the six months ended 31st August 2022 (“1H2022” or the “reporting period”). During the reporting period, the Group’s revenue was up by 11.8% year-on-year […]

BSP: Moody’s credit rating affirmation to support economic recovery

MOODY’S affirmation of the Philippines’ investment-grade credit rating of “Baa2” with a “stable” outlook will support the sustained recovery of the domestic economy, Bangko Sentral ng Pilipinas (BSP) Gov. Felipe Medalla said.In a statement on Saturday, Sept. 17, 2022, Medalla welcomed Moody’s recognition of the country’s well-capitalized banking system, which continues to provide the funding […]

Moody’s affirms PHL credit rating   

MOODY’S INVESTORS SERVICE on Thursday kept the Philippines’ “Baa2” credit rating with a “stable” outlook, as economic recovery is unlikely to be hampered by “challenging global credit conditions.” In a statement on Thursday, the credit rater affirmed the country’s long-term local and foreign currency issuer and senior unsecured ratings at “Baa2.”    “The rating action […]

BoB Financial and Snapdeal Launch Co-Branded JCB RuPay Contactless Credit Card

MUMBAI, INDIA, Sep 2, 2022 – (ACN Newswire via SEAPRWire.com) – BOB Financial Solutions Limited (BFSL), the wholly-owned subsidiary of Bank of Baroda (BoB) and Snapdeal in partnership with National Payments Corporation of India (NPCI) and JCB International Co. Ltd. have announced the launch of the Snapdeal BoB JCB RuPay Credit Card. The card is […]

AEON Credit (00900) 1Q2022 Revenue up by 9.7% to HK$279.1 million

HONG KONG, Jun 23, 2022 – (ACN Newswire via SEAPRWire.com) – AEON Credit Service (Asia) Company Limited (“AEON Credit” or the “Group”; Stock Code: 00900) today announced its unaudited results for the three months ended 31 May 2022 (“1Q2022”, or the “reporting period”). For 1Q2022, the Group’s revenue increased 9.7% year-on-year to HK$279.1 million and […]

Banks must develop new products to meet growing demand for credit

BANKS should develop more affordable products as unserved and underserved Filipinos expect their need for credit to increase in the coming years, which, a study conducted by information solutions firm TransUnion Philippines showed. TransUnion’s study titled “Empowering Credit Inclusion: A Deeper Perspective on Credit Underserved and Unserved Consumers” surveyed 1,008 unserved and 964 underserved consumers […]

AEON Credit Service Launches AEON CARD WAKUWAKU at the Forefront in Addressing Consumer Spending Habits Amid New Normal

HONG KONG, May 3, 2022 – (ACN Newswire via SEAPRWire.com) – AEON Credit Service (Asia) Limited (“AEON Credit Service” or the “Group”; stock code: 00900) launched its brand-new AEON CARD WAKUWAKU on 1 May 2022, marking the introduction of the Group’s first CashBack credit card geared towards fans of online shopping, as part of its […]

AEON Credit (00900) FY2021 Profit Up by 13.6% to HK$342.6 Million

HONG KONG, Apr 6, 2022 – (ACN Newswire via SEAPRWire.com) – AEON Credit Service (Asia) Company Limited (“AEON Credit” or the “Group”; Stock Code: 00900) today announced its annual results for the year ended 28 February 2022 (“FY2021”). For FY2021, the Group’s revenue reached HK$1,049.6 million (FY2020: HK$1,089.9 million) and profit increased by 13.6% year-on-year […]