banks in the Philippines - updates

Rappler's latest stories on banks in the Philippines

ARTICLE FINDER

Key dates in Germany's Wirecard fraud scandal

Jun 26, 2020 - 3:25 PM

Here are the key developments that led to Wirecard's demise

5 things to know about the Wirecard scandal

Jun 25, 2020 - 11:05 PM

Here are the key facts about the scandal involving German payments provider Wirecard, which has reached the Philippines

BDO to buy out Nomura's 49% stake in stock brokerage company

Jun 23, 2020 - 4:30 PM

BDO says Nomura's exit will enable the company to consolidate its securities brokerage business into BDO Securities Corporation

BPI suspends employee over possible Wirecard scandal involvement

Jun 22, 2020 - 7:20 PM

'The employee who may have played a part in the preparation of [falsified documents] has been suspended and is under investigation,' says BPI


Scandal-hit Wirecard says missing 1.9 billion euros may not exist

Jun 22, 2020 - 3:30 PM

(3rd UPDATE) Wirecard says further examination shows 'there is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist'

Picture taken on September 18, 2018 shows the company logo at the headquarters of the technology and financial services company Wirecard in Aschheim near Munich, southern Germany. (Photo by Christof STACHE / AFP)

Philippine banks deny holding Wirecard's missing $2.1 billion

Jun 19, 2020 - 7:46 PM

BDO and BPI say German payments firm Wirecard is not their client

File photo

Coronavirus drags down BDO net income by 10% in Q1 2020

Apr 24, 2020 - 7:35 PM

BDO says its core lending and deposit-taking businesses sustained growth, but its investment portfolio and bottom line are dragged down by the coronavirus pandemic

BPI reviews spending plan, braces for loan defaults due to coronavirus

Apr 24, 2020 - 6:10 PM

BPI increases its buffer for loan default losses as a result of the pandemic. Executives also say the bank is 'well-positioned' for the expected rise in digital transactions.

Coronavirus pushes more banks to tighten credit standards in Q1 2020

Apr 24, 2020 - 4:00 PM

Majority of banks say they have maintained credit standards, but more have started reporting tighter rules as the coronavirus pandemic raises economic risks

'Largest budget support ever': ADB lends PH $1.5 billion vs coronavirus

Apr 24, 2020 - 11:35 AM

Finance Secretary Carlos Dominguez III says the loan will help fund programs to defeat COVID-19 and bridge the higher deficit requirement estimated at P990 billion

LIST: Banks' grace period for card, loan payments amid coronavirus

Mar 19, 2020 - 3:55 PM

Most banks offer a 30-day grace period for qualified credit cardholders as well as home, auto, and personal loan clients

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

COA to DSWD: Pay Landbank's P82.72 million in unpaid 4Ps service fees

Feb 18, 2020 - 9:31 PM

COA adjusts the payout figure to Landbank to a lower amount compared to the original claim of P87.05 million and the amended claim of P92.27 million

UnionBank net income shoots up 104% to P14 billion in 2019

Jan 27, 2020 - 1:15 PM

UnionBank's strategy? Digital transformation while maintaining lean operations.

BDO waives fees for Taal Volcano cash donations

Jan 24, 2020 - 7:34 PM

Filipinos overseas can donate cash through BDO Remit offices for free from January 14 to March 31

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

Bangko Sentral cuts banks' reserve requirement anew to support growth

Oct 24, 2019 - 6:56 PM

The Bangko Sentral ng Pilipinas doubles down on monetary measures to counter global headwinds

BPI 9-month net income jumps 29.5% to P22 billion

Oct 16, 2019 - 8:05 PM

BPI's net income from January to September is just P1 billion less than the P23.1 billion it earned during the entire 2018

BPI services down on October 19 due to system upgrade

Oct 11, 2019 - 12:52 PM

Online banking, ATMs, and other services will be temporarily unavailable


Bangko Sentral hits the gas for economic growth

Sep 28, 2019 - 1:20 PM

The Bangko Sentral ng Pilipinas announces the lowering of the level of cash banks need to keep on the same week it slashed interest rates

Higher penalties now await bank account hackers, credit card skimmers

Sep 25, 2019 - 2:05 PM

Hacking a banking system can now land you in jail for life due to a new law imposing stiffer penalties for access device fraud

ATM FEES. The central bank now makes it possible for banks to adjust ATM fees, subject to their approval. Photo from Shutterstock

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

Landbank loans to agriculture sector hit P238 billion as of July 2019

Sep 20, 2019 - 7:00 PM

Total loans grow by 8% in July, as Landbank expands direct credit to small farmers and fishers


Duterte slams Lopez group anew for past DBP loans

Sep 17, 2019 - 9:08 PM

President Rodrigo Duterte launches a fresh tirade against the Lopez family, warning he might 'start to dig' up information about how DBP loans obtained by their companies were written off

President Rodrigo Roa Duterte delivers his speech during the oath-taking ceremony of the officers of the Malacañang Press Corps, Presidential Photojournalists Association, and Malacañang Cameramen Association at the Malacañan Palace on September 10, 2019. KING RODRIGUEZ/PRESIDENTIAL PHOTO

Islamic banking now more accessible under new law

Aug 30, 2019 - 4:02 PM

Islamic banks differ from regular banks as they adhere to Shari’ah law and its economic principles

SC affirms junking of graft case vs DBP, textile firm over Marcos-era behest loans

Aug 25, 2019 - 5:16 PM

The Supreme Court Third Division backs the Ombudsman's 2006 decision to dismiss the complaint filed by the Presidential Commission on Good Government

File photo by LeAnne Jazul/Rappler

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

Bangko Sentral: Banks need our approval to raise ATM fees

Aug 13, 2019 - 5:45 PM

The House committee on banks and financial intermediaries is set to investigate a looming 50% increase in ATM fees

BPI net income soars by 24.6% to P13.7 billion in H1 2019

Aug 01, 2019 - 1:41 PM

The Bank of the Philippine Islands boasts impressive earnings as corporate, consumer, and credit card loans jump by double digits in the 1st half of 2019


FAST FACTS: What you should know about Landbank

Jul 31, 2019 - 12:42 PM

(3rd UPDATE) President Duterte threatens to shut down the government bank in his 4th SONA, saying it's acting more like a commercial bank instead of focusing on farmers and fishermen

UnionBank's H1 2019 earnings up just 2% as it shifts to digital

Jul 29, 2019 - 7:40 PM

UnionBank posts a net income of P4.8 billion in the 1st half of 2019, as it sustains growth of earning assets despite lower margins and investment in its digital transformation


BDO boasts 54% earnings growth to P20.2 billion in 1st half of 2019

Jul 26, 2019 - 2:39 PM

BDO beats conservative forecasts, growing its earnings from P13.1 billion in the 1st half of 2018 to P20.2 billion in 2019

Loans push Metrobank’s income up 18% in 1st half of 2019

Jul 26, 2019 - 12:45 PM

Metrobank says the double-digit growth is due to consistent loan growth, higher fee-based income, and prudent operational expenditures


Landbank turns over 354,783 hectares of land to DAR

Jul 25, 2019 - 7:50 PM

(UPDATED) The Land Bank of the Philippines, which President Rodrigo Duterte criticized in his 4th State of the Nation Address, says this turnover happened in May 2019

Landbank to submit plans for farmers after Duterte threat

Jul 23, 2019 - 8:05 PM

The Land Bank of the Philippines says it is committed to helping farmers and fishermen, a day after President Rodrigo Duterte threatened to have it abolished

Duterte threatens to abolish Landbank

Jul 22, 2019 - 7:45 PM

'What the heck is wrong with you? You are supposed to finance agricultural enterprises and endeavors,' President Rodrigo Duterte tells the Land Bank of the Philippines

RCBC system maintenance to start 10 pm on July 19

Jul 16, 2019 - 1:45 PM

Banking services will be unavailable during RCBC's system maintenance from 10 pm on Friday, July 19, to 10 pm on Saturday, July 20

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

New RCBC president gears up for bank's digital shift

Jul 10, 2019 - 8:15 PM

Eugene Acevedo, a veteran banker and technology advocate, now leads RCBC

[OPINION] A facade of smiles over the Recto Bank incident

Jun 28, 2019 - 7:00 PM

From within the government's ranks, all is definitely not well with President Duterte’s pro-Beijing policy

No major decision reached after Duterte execs meet on Recto Bank

Jun 17, 2019 - 6:40 PM

The meeting comes as the usually outspoken President Rodrigo Duterte draws flak for his silence on the Recto Bank incident

The FB Gem-Ver at the shores of Brgy. San Roque II, San Jose Occidental Mindoro on June 15, 2019, after it was salvage near the Reed (Recto) Bank following its sinking by a Chinese vessel on June 9. Photo by LeAnne Jazul/Rappler

Recto Bank: Why China covets what belongs to the Philippines

Jun 14, 2019 - 7:16 PM

Recto Bank is said to contain most of the oil and natural gas in the West Philippine Sea. The Philippines owns it.

GET OUT! A protester carries a placard that says, 'China, layas!' (China, get out!) in a picket in front of the Chinese consulate in Makati City. Photo by Alecs Ongcal/Rappler

BPI customers furious over new online transaction charges

May 31, 2019 - 3:55 PM

The new charges take effect on July 1

Landbank wants to cover more agrarian reform beneficiaries

May 26, 2019 - 6:50 PM

The Land Bank of the Philippines eyes more farmer-beneficiaries after its loans for small farmers and fisherfolk went up to P13 billion in the first 3 months of 2019

Farmers from La Trinidad, Benguet maintain to water there strawberry and vegtetable because of summer heat where they use to get their daily living. The water was come from a water irrigation of the province. Photo by Mau Victa/Rappler

Bangko Sentral slashes reserve requirement for small banks

May 23, 2019 - 7:15 PM

The Bangko Sentral ng Pilipinas slashes the amount small banks need to hold in their reserves – a move that is expected to free up some P20 billion in the economy

Money for drugs, human trafficking coursed through PH banks – AMLC

May 23, 2019 - 1:35 PM

The Anti-Money Laundering Council finds 161,650 suspicious transactions totaling P17.9 trillion from 2013 to 2017. The amount was used to fund crimes like illegal drugs, human trafficking, and terrorism.

Virtual bank ING offers high savings interest rate of 2.5%

May 21, 2019 - 8:45 PM

Many Filipinos are still wary of digital banking, but ING Bank's high interest rate for savings accounts might convince some to make the shift

Bangko Sentral shuts down Rural Bank of Basey in Samar

May 20, 2019 - 4:55 PM

The Rural Bank of Basey is the fifth bank closed by the Bangko Sentral ng Pilipinas in 2019

CLOSING DOWN A BANK. The Bangko Sentral  ng Pilipinas closes down the Rural Bank of Basey. Rappler file photo

Bank schedules on Philippine election day, May 13

May 11, 2019 - 5:20 PM

Here are advisories of banks for the 2019 midterm polls on Monday, May 13

SC: Release P747-M retirement perks of ex-DBP employees

May 05, 2019 - 1:59 PM

The Supreme Court grants a petition questioning the Commission on Audit's notice of disallowance on the Development Bank of the Philippines' retirement program

Image from Wikicommons