Banking & Finance

PSBank posted 31% growth pre-provision income; reports P1.108 Billion net income

Philippine Savings Bank’s (PSBank) operating income surged to 31 percent before provisions to P7.45 billion last year.  This enabled the Bank to set aside additional loan loss provisions to three times over to P6.40...

BSP looking into system glitch of local crypto exchange

The Bangko Sentral ng Pilipinas, through its supervision and surveillance mechanisms, has been alerted of the reported system glitch involving the Philippine Digital Asset Exchange (PDAX), a cryptocurrency exchange which began retail operations in...

China Bank nets P12B; assets hit P1T

China Banking Corporation (China Bank) concluded a challenging year with P12.1 billion net income, 20 percent higher compared to 2019. The bigger profits translated to an improved return on equity of 12.1 percent from...

Landbank lends P6.95B to MSMEs, cooperatives

The Land Bank of the Philippines (Landbank) has approved loans totaling P6.95 billion for 227 borrowers composed mostly of micro, small and medium enterprises (MSMEs) and cooperatives that are affected by the impact of...

Pru Life UK Investments empowers Filipinos to become investors

With the pandemic still ongoing, many Filipinos have realized that they cannot rely on just one source of income for their long-term expenditures and necessities. Investments are becoming an increasingly attractive solution in addition...