-
Dec 01 2020 Moody’s sees sluggish loan growth on banks’ tighter credit standards
THE COMING YEAR will likely remain challenging for Philippine banks as they may face continued tepid loan growth and downside risks to profitability, an analyst from a debt watcher said.
“Loan growth will likely be muted in 2021 as the banks cautiously navigate the challenging economic environment,” Joyce Ong, an analyst at the Financial Institutions Group…
-
Dec 01 2020 Convenience, safety of people led to DiskarTech, ParaHero partnership
In this time when pandemic remains to threaten our health and life while trying to adjust and live under the new normal, there are many who are still wary of dealing with the current situation.
However, two companies wanted to do their share to the country and community, and formed an alliance to bring convenience and…
-
Dec 01 2020 BSP seen to continue easing to support economy
SOME ASIAN central banks, including the Bangko Sentral ng Pilipinas (BSP), will likely remain accommodative in 2021 to provide support to their coronavirus-battered economies, a think tank said.
“Indonesia, the Philippines and Vietnam have all cut rates in recent weeks, and we have further easing pencilled in for these three economies as well as India next…
-
Nov 30 2020 Lenders, tech firms adjust to e-payments shift
FINANCIAL INSTITUTIONS are boosting their capabilities to ensure they can accommodate the needs of consumers and merchants in their shift to digital payments amid the coronavirus pandemic.
While systems put in place by regulators and financial players to facilitate digital transactions have helped, there is still a lot to work on as Filipinos embrace digital transactions,…
-
Nov 29 2020 Senate approves CREATE bill, sets to provide economic stimulus to businesses
Finance Secretary Carlos Dominguez III has thanked the Senate for making history with its approval on Thursday of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Once signed into law, CREATE will finally put in place long-needed reforms in the country’s corporate tax and fiscal incentives system.
Dominguez said the Senate’s timely passage of…
-
Nov 29 2020 Firms going digital amid pandemic
THE MARKET has seen an increase in smaller businesses amid the coronavirus pandemic, with most firms tapping digital platforms to reach their customers.
Lazada Philippines said some of its merchants have seen a sizeable increase in sales as they used the platform amid the coronavirus pandemic.
“During COVID, we have 2.5 times more in daily sales than…
-
Nov 29 2020 8 Top Funded Fintech Startups in the Philippines 2020
The Philippines is home to a striving fintech industry comprising more than 190 ventures operating in lending, payments, credit scoring, and more and the top funded fintech startups in the Philippines gives us a sense of what investors and startups believe to the biggest opportunities within the ecosystem.
As the momentum continues, we look today at some of…
-
Nov 29 2020 Digital payments stepping-stones to the next normal
The Next Normal will no doubt require a radical rethinking of how we approach interactions services, including how we make and receive payments. Digital payment systems offer the best approach for streamlining financial transactions, and will make it easier for us to keep a safe distance from others.
In the World Bank’s 2020 Philippines Digital Economy…
-
Nov 27 2020 Inclusion goals within reach as virus pushes e-payments shift
THE CENTRAL BANK’S financial inclusion and digitalization goals are likely to be met within the term of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno as more Filipinos shift to online transactions amid the coronavirus pandemic.
“Our goal is that at least 70% of Filipino adults should have a bank account by 2023. But with…
-
Nov 26 2020 Peso tipped for strong December on record remittances
The Philippine peso, which lagged its peers in Asia this quarter, may get a boost in December with millions of Filipinos abroad set to send record amounts of money home to help families suffering from the pandemic and the recent typhoons.
December is a seasonally strong month for the peso, with the currency gaining in the period…