Philippine banking - updates

Rappler's latest stories on Philippine banking

ARTICLE FINDER

Bank schedules for EDSA Revolution anniversary, February 25, 2020

Feb 24, 2020 - 6:45 PM

Here are the banks which will have certain branches open on Tuesday, February 25, 2020

Bank schedules for Christmas 2019

Dec 10, 2019 - 8:50 PM

Here are the operating hours of banks in the Philippines during the holiday season

Poe says lawmakers 'not in a rush' to pass fintech bill

Sep 23, 2019 - 6:45 PM

Senators recommend the creation of a task force among government agencies to study digital currencies such as Bitcoin

DIGITAL CURRENCIES. Senator Grace Poe, chairperson of Committee on Banks, Financial Institutions and Currencies, presides the senate hearing on the digital currencies and banking situations in the country on September 23, 2019. Photo by Angie de Silva/Rappler

[OPINION] It’s time to stop investing in climate change

Sep 20, 2019 - 5:28 PM

By continuing to finance coal, Philippine banks will only muddle the conscience of their many depositors who love the Earth and their fellow Filipinos

Basagan ng Trip with Leloy Claudio: Why finance experts should challenge mutual funds in PH

Aug 30, 2019 - 6:26 PM

Have you invested in mutual funds in the Philippines? This episode explains how and why you are being shortchanged.

Villar urges Landbank to ease loan process for sugar farmers

Aug 15, 2019 - 6:27 PM

Senator Cynthia Villar, chair of the Senate committee on agriculture, says Landbank was taking too long to process farmers' loan applications

MIFFED. Senator Cynthia Villar grills the Land Bank of the Philippines officials at the Senate hearing on the implementation of the sugar cane industry development law. Photo by Angie de Silva/Rappler

You can now reload Beep cards using BPI Online

Jul 11, 2019 - 2:20 PM

Beep cards can now be reloaded through BPI Online or the bank's app in 4 steps

BPI customers furious over new online transaction charges

May 31, 2019 - 3:55 PM

The new charges take effect on July 1

Bank schedules for Holy Week 2019

Apr 17, 2019 - 3:30 PM

Here are the operating hours of banks during Holy Week

Banks downplay Hanjin crisis impact

Jan 14, 2019 - 3:10 PM

The Bangko Sentral ng Pilipinas says the total exposure caused by the bankruptcy of Hanjin Heavy Industries and Construction Philippines is only 0.24% of all loans in the country's banking system

Bank schedules for Christmas 2018

Dec 19, 2018 - 8:45 PM

Here are the operating hours of Philippine banks this holiday season

Bank guards involved in Metrobank Tuguegarao robbery

Aug 03, 2018 - 12:37 PM

Police arrive at the conclusion after reviewing CCTV footage

BANK ROBBERY. Police investigators inspect the entry point of the robbers of Metrobank Tuguegarao. Photos by Raymon Dullana/Rappler

Lawmaker urges banks to slash OFW remittance charges amid high inflation

Jul 07, 2018 - 1:05 PM

ACTS-OFW Representative Aniceto Bertiz III asks banks to cut charges on OFW remittances to 5%, from the current average of 10.57%

BPI postpones peso cash deposit, withdrawal fees to January 2019

Jul 04, 2018 - 7:45 PM

But 'fees for transactions other than peso deposits and withdrawals will take effect on September 1, 2018, as previously announced'

BPI to start charging for over-the-counter withdrawals, inter-regional deposits

Jul 02, 2018 - 8:00 PM

(UPDATED) BPI says it is postponing the implementation of having branch transaction fees for peso cash deposits and withdrawals to January 2019.

Photo by Alecs Ongcal/Rappler

BPI posts flat net income of P6.25 billion in Q1 2018

May 07, 2018 - 5:30 PM

The listed Ayala-led lender remains less exposed to interest rate risk, as its holding in securities only increased by 2.3% to P309.95 billion from January to March this year

FLATTISH PERFORMANCE. Net income of BPI, the Philippines' 3rd largest bank in terms of assets, remains unchanged in the first quarter of 2018, from the P6.25 billion recorded in the comparable period a year ago. Photo by LeAnne Jazul/Rappler

Bangko Sentral shuts down rural bank in Misamis Oriental

May 02, 2018 - 8:00 PM

The Rural Bank of Initao is the 3rd rural bank to be ordered closed in 2018

SHUT DOWN. Rural Bank of Initao is a single-unit rural bank located in Initao, Misamis Oriental. Available records online shows it had 1,476 deposit accounts, with total deposit liabilities of P46.4 million. Image from Google Maps

Bank schedules for Holy Week 2018

Mar 20, 2018 - 6:50 PM

Bookmark this page for the operating hours of banks during Holy Week

Poe wants probe vs abusive debt collection practices

Mar 04, 2018 - 10:24 AM

Senate Grace Poe says debt collectors engaging in unfair practices 'must be punished to put an end to their prevalent abusive behavior'

PROBE SOUGHT. Grace Poe grants Senate reporters an ambush interview. File Photo by Alecs Ongcal/Rappler

Philippines joins 'elite' cross-border banking data reporting

Jan 15, 2018 - 2:30 PM

Switzerland-based Bank for International Settlements adds the Philippines as a reporting country, which the Bangko Sentral ng Pilipinas says would 'enhance the transparency of global transactions and funding flows'

INCLUSION. Bangko Sentral chief Nestor Espenilla Jr says the Philippines' 'inclusion into the elite group provides us with more granular cross-border banking data that would be very critical in formulating well-informed policies when and how they may be needed.' Rappler file photo

Man falls from PBCom Tower in Makati

Dec 27, 2017 - 11:02 AM

The Makati police identifies the man as Rissan Alarosa, an employee of the Megacity General Construction and Development Corporation

The body of Rissan Alarosa lies on the pavement in front of the PBCom Tower in Makati on December 27, 2017. Photo from Twitter user Grace Glory Ornido

Christmas 2017 bank schedules

Dec 20, 2017 - 9:00 PM

(4th UPDATE) Here are Philippine banks' operating hours for the holiday season

Bank schedules during 2017 ASEAN Summit

Nov 09, 2017 - 7:15 PM

Banks in Metro Manila release advisories on their operating hours for the duration of the Association of Southeast Asian Nations (ASEAN) Summit

BDO urges clients to shift to EMV debit cards

Oct 31, 2017 - 8:30 PM

The bank will eventually deactivate the magnetic stripe-only debit card

MORE SECURE. EMV cards have an embedded chip in them which helps protect against fraud better compared to cards that use the magnetic strip

Bank schedule: Undas 2017

Oct 30, 2017 - 7:00 PM

Here are the operating hours of various banks for Tuesday, October 31 and Wednesday, November 1

Metrobank buys out credit card stake of Australia's ANZ

Oct 19, 2017 - 2:05 PM

Metrobank will take over ANZ's 40% share in Metrobank Card Corporation to turn the tie-up into a wholly-owned subsidiary

Photo by Alecs Ongcal/Rappler

Normal working day for BSP, banks on September 21

Sep 20, 2017 - 4:50 PM

The rate-setting meeting of the Bangko Sentral ng Pilipinas' Monetary Board will also push through on Thursday, September 21

BUSINESS AS USUAL. BSP Governor Nestor Espenilla Jr issues memorandum no. M-2017-09, announcing the central bank's clearing and settlement, cash servicing, as well as treasury operations would observe normal operations on Thursday. File photo by BSP

Net interest, fee-based earnings drive RCBC's income in 2nd quarter

Aug 11, 2017 - 10:55 AM

The bank s net income in the 2nd quarter of 2017 soars by 67 to P1 34 billion from the P806 million booked in the same period in 2016

Banks stay open after Leyte earthquake

Jul 08, 2017 - 12:28 PM

Our member banks have advised its respective branches to strive delivering its services to the general public and accommodate all banking transactions most especially in this time of need says the Bankers Association of the Philippines

QUAKE DAMAGE. A man walks by a building destroyed by the magnitude 6.5 earthquake. Photo by Gelo Litonjua

UnionBank probes possible P17-M theft by employee

Jul 03, 2017 - 5:50 PM

UnionBank discovers that the employee made an unauthorized cash transfer The bank also clarifies that the incident is not a cyberattack

SUSPECTED THEFT. UnionBank, during its routine checking, found out that a female bank officer made an unauthorized cash transfer on Friday, June 30, amounting to P17.03 million. Rappler file photo

DBP willing to help rebuild Marawi City, says CEO

Jul 02, 2017 - 4:07 PM

The state owned financial banking institution continues to grow the financial muscle it needs to achieve its development mandate CEO Cecilia Borromeo says

TOP EXEC. DBP chief executive officer Cecilia Borromeo talks to stakeholders during the bank's Business Roadshow in Legazpi City. Photo by Rhaydz Barcia/Rappler

Landbank extends banking hours on June 30 amid system upgrade

Jun 30, 2017 - 2:05 PM

All branches of the Land Bank of the Philippines will be open until 5 pm on Friday June 30

#ThewRap: Videos to watch this week, June 18-24, 2017

Jun 25, 2017 - 9:42 AM

Must watch videos from this week

ASSURANCE. Two of the biggest banks in the country assures the public there is no need to worry amid glitches and ATM fraud.

Landbank sets June 24-25 system upgrade, downtime

Jun 20, 2017 - 3:45 PM

ATMs cash deposit machines and other electronic banking channels will be offline from 10:30 pm on June 24 to 3:00 pm on June 25

BRANCHING OUT. LandBank plans to set up the OFW bank after its  on-going acquisition of Philippine Postal Savings bank which it plans to make a wholly-owned subsidiary. File Photo/Wikipedia.

BSP to banks: Don't pay ransomware attackers

May 16, 2017 - 9:30 PM

While no Philippine bank was affected in the global ransomware attack the Bangko Sentral ng Pilipinas issues guidelines on dealing with cyber criminals and protecting sensitive data

Artificial intelligence reinventing banking in PH

Apr 24, 2017 - 2:00 PM

Banks in the Philippines are starting to invest in artificial intelligence

ARTIFICIAL INTELLIGENCE. AI is changing the face of banking in the Philippines. Rappler file photo

BDO guards turf from giant ASEAN lenders

Apr 20, 2017 - 8:49 PM

Operating in a seamless regional economic bloc the Philippines largest lender is wary of bigger banks entering the Philippines

HIGHER LENDING. The country's dominant bank continues stable growth in net income in the first quarter of 2017, mainly due to higher loan accounts

U.S. labels Philippines as major money laundering site again

Mar 06, 2017 - 12:45 PM

For the US State Department money laundering remains a serious concern in the Philippines due to its international narcotics trade corruption and weak laws

DIRTY MONEY SITE. The US State Department says sophisticated transnational organized crime and drug trafficking organizations use the Philippines as a drug transit country. Rappler file photo

Fitch keeps 'stable' outlook for PH banks in 2017

Dec 13, 2016 - 6:00 PM

Only the Philippines and Vietnam – where economic prospects are brighter – have stable sector outlooks the debt watcher says

WEATHER STORM. Fitch Ratings gives the Philippine banking system a stable 2017 outlook, with domestic demand to remain strong. Image from Shutterstock

Philippines asks for Bangladesh help on bank heist investigation

Dec 04, 2016 - 9:20 PM

This is to strengthen the Philippine government s position in court proceedings that aim to retrieve the rest of the stolen funds

COLLABORATE. Philippine government officials ask the Bangladesh Bank for a copy of its full report on its investigation to strengthen its position in court proceedings. Rappler file photo

Fresh AMLA amendments include casinos, real estate, junket ops

Dec 01, 2016 - 2:49 PM

Should the Congress pass the AMLA amendments AMLC will also have the power to issue an ex parte freeze order which will be effective immediately and will not exceed 30 days

MORE TEETH. With limited power, it took the Anti-Money Laundering Council (AMLC) 18 days to order Rizal Commercial Banking Corporation (RCBC) to freeze all accounts involved in the $81-million Bangladesh Bank fund heist. Rappler file photo

RCBC chief counsel Estavillo quits

Nov 29, 2016 - 1:10 PM

RCBC announces the resignation of lawyer Maria Celia Fernandez Estavillo over a week after the Anti Money Laundering Council filed criminal charges against several RCBC officers

RESIGNATION. Estavillo is the lawyer who represents Rizal Commercial Banking Corporation (RCBC) in the $81-million Bangladesh Bank heist case. Photo by Alecs Ongcal/Rappler

AMLC files charges vs RCBC officers on Bangladesh Bank heist

Nov 22, 2016 - 6:31 PM

The former treasurer and 5 other officers and employees of listed Rizal Commercial Banking Corporation RCBC are charged for violating Republic Act 9160 or the Anti Money Laundering Act of 2001

CHARGES FILED. Philippine senators probe into the location of the stolen money and main players in the money-laundering case. Photo by Alecs Ongcal/Rappler

Security Bank to rejoin PSE

Aug 24, 2016 - 6:45 PM

The local bourse announces that Security Bank will replace Bloomberry Resorts Corporation which will be removed from the main index on September 12

REPLACEMENT. Security Bank will replace Bloomberry Resorts Corporation, which is set to be removed from the main index in September

RCBC net income inches up

Aug 03, 2016 - 5:45 PM

RCBC s core income driven by its core businesses is firming up RCBC remains on track with its long term goals says Gil Buenaventura the bank s new president and CEO

CORE STRENGTH. Excluding the cyclical trading gains, RCBC's core income surged by 59% in the first half of 2016

RCBC reorganizes board after Bangladesh Bank heist scandal

Jul 26, 2016 - 9:05 PM

In the wake of the scandal RCBC strengthens its board of directors increasing the number of independent directors to 7 from the previous 4

AFTERMATH. In the wake of the Bangladesh Bank heist scandal, RCBC strengthens its board of directors. Rappler file photo

Bangladesh envoy to Duterte: Help us recover $81M stolen funds

Jul 21, 2016 - 8:30 PM

If the President is so serious about crime and corruption I think this is an issue that should be addressed Bangladesh Ambassador to the Philippines John Gomes says

'IN THE DARK'. Bangladesh Ambassador to the Philippines John Gomes says after the Senate probe, the investigation on the Bangladesh Bank heist became quiet. Photo by Alecs Ongcal/Rappler

Will Senate revive probe into Bangladesh Bank heist?

Jun 10, 2016 - 11:30 AM

The 16th Congress adjourns with no resolution to the probe into Bangladesh Bank s stolen millions

A REVISIT? Senate President Franklin Drilon says Bangladesh Bank heist resolution is now up to the 17th Congress. Photo by Alecs Ongcal/Rappler

BSP cancels registration of PhilRem, Werquick, Peso Remittance

Jun 01, 2016 - 5:45 PM

The cancellation stems from PhilRem s role in the elaborately planned 81 million Bangladesh Bank heist

'CLEANING HOUSE'. PhilRem owners Salud Bautista (C) and Michael Bautista (R) did not attend the last Senate hearing on the Bangladesh Bank money laundering scam. File photo by Alecs Ongcal/Rappler

RCBC names new officials after bank heist probe

May 31, 2016 - 5:12 PM

As the Senate probe into the bank heist ends the embattled bank appoints new key officials

MOVING ON. The appointment comes after The Bangko Sentral ng Pilipinas and the Senate Blue Ribbon Committee have completed investigations on the money laundering scandal