MOODY\u2019S RATINGS has affirmed its long- and short-term ratings and outlooks for BDO Unibank, Inc. and Bank of the Philippine Islands (BPI), citing their profitability and strong deposit bases.
\nThe debt watcher affirmed the two banks\u2019 \u201cBaa2/P-2\u201d long- and short-term foreign and local currency deposit ratings and \u201cstable\u201d outlooks, it said in separate statements late on Wednesday.
\nAlso affirmed were their counterparty risk ratings and assessments, baseline credit assessments, and the ratings for their respective medium-term note programs.
\nFor BDO, Moody\u2019s said the affirmed ratings reflect its strong asset quality, funding and liquidity, adding that it has ample buffers and good profitability.
\n\u201cThe bank\u2019s funding and liquidity will remain its key strengths, with a robust and dominant deposit franchise supporting its very high deposit market share, and hence access to lower cost of funding and high current and savings account deposit ratio of 68% as of end-2025. Its less-stable funds ratio stood at an adequate 23.1% as of end-2025, while its core banking liquidity ratio was 20.6% as of the same date,\u201d it said.
\nIt added that BDO\u2019s nonperforming loan (NPL) ratio is likely to stay stable this year, still supported by write-offs on its fast-growing unsecured retail loans.
\nMeanwhile, its credit costs may stay elevated amid the surge in the share of consumer loans in its portfolio over the past two years, and amid preemptive provisioning as macroeconomic conditions become more challenging.
\n\u201cThe bank\u2019s high concentration to large corporate loans and long-dated investment securities will also pose risks to its asset quality.\u201d
\nThe credit rater sees BDO\u2019s return on assets (RoA) to range from 1.4% to 1.5% this year as net interest margin (NIM) stabilizes, even while credit costs and operating expenses remain elevated.
\nMeanwhile, capitalization will stay adequate, although capital generation may grow slower as credit demand eases. Widening government bond yields could also hit its Tier 1 ratio.
\nMoody\u2019s said BDO\u2019s deposit ratings will depend largely on the movement of the Philippines\u2019 sovereign rating as they are at the same level.
\nMeanwhile, a significant deterioration in its asset quality, which could drive up credit costs and hit its earnings, as well as increased risks from related party lending or loan concentration, could lead to a downgrade.
\nBPI
\nFor BPI, Moody\u2019s said it credit strengths are strong profitability, adequate capital, healthy liquidity, and stable funding supported by its solid deposit franchise.
These balance out its weakening loan quality as it continues to expand its higher-risk retail lending businesses and amid \u201cchallenges\u201d in its corporate segment after it reported in the first quarter that \u201cseveral corporate loans slipped into problem loans due to challenges unrelated to the conflict in the Middle East.\u201d
\nIt said the bank\u2019s problem loan ratio and credit costs have increased amid the seasoning of its retail loans and heightened macroeconomic risks.
\n\u201cWe expect the retail segments to experience further strain in 2026, given the shrinking financial buffers of retail borrowers amid higher inflation in the Philippines,\u201d Moody\u2019s said.
\n\u201cAlthough the bank has tightened credit underwriting and plans to moderate its retail loan growth, we expect the bank\u2019s asset risks to remain elevated, with credit costs normalizing closer to the 0.9% range in 2026. The bank\u2019s high concentration to large corporate loans and long-dated investment securities will also pose risks to its asset quality.\u201d
\nMeanwhile, the bank\u2019s NIM will likely continue expanding in line with growth in its retail loan, while its RoA could decline slightly due to elevated credit costs.
\n\u201cAdditionally, lower repayment capacities of retail borrowers amid higher inflation will add further upside on the bank\u2019s credit costs.\u201d
\nThe debt watcher said BPI\u2019s funding and liquidity will remain strong thanks to its strong deposit base.
\n\u201cAlthough the bank\u2019s current and savings account deposit ratio has declined to 60% as of March 2026, from 63% the year before, the bank\u2019s cost of funds remains one of the lowest among its domestic rated peers. As of end-2025, the bank\u2019s less-stable funds ratio stood at a good level of 17.1% and its core banking liquid assets ratio was 21.7%.\u201d
\nLike BDO, BPI\u2019s ratings will hinge on the movement of the Philippines\u2019 sovereign rating as they are at the same level.
\nDowngrades could be possible if its solvency metrics, including its asset quality and liquidity ratios, worsen significantly. \u2014 Aaron Michael C. Sy
\n", "content_text": "MOODY\u2019S RATINGS has affirmed its long- and short-term ratings and outlooks for BDO Unibank, Inc. and Bank of the Philippine Islands (BPI), citing their profitability and strong deposit bases.\nThe debt watcher affirmed the two banks\u2019 \u201cBaa2/P-2\u201d long- and short-term foreign and local currency deposit ratings and \u201cstable\u201d outlooks, it said in separate statements late on Wednesday.\nAlso affirmed were their counterparty risk ratings and assessments, baseline credit assessments, and the ratings for their respective medium-term note programs.\nFor BDO, Moody\u2019s said the affirmed ratings reflect its strong asset quality, funding and liquidity, adding that it has ample buffers and good profitability.\n\u201cThe bank\u2019s funding and liquidity will remain its key strengths, with a robust and dominant deposit franchise supporting its very high deposit market share, and hence access to lower cost of funding and high current and savings account deposit ratio of 68% as of end-2025. Its less-stable funds ratio stood at an adequate 23.1% as of end-2025, while its core banking liquidity ratio was 20.6% as of the same date,\u201d it said.\nIt added that BDO\u2019s nonperforming loan (NPL) ratio is likely to stay stable this year, still supported by write-offs on its fast-growing unsecured retail loans.\nMeanwhile, its credit costs may stay elevated amid the surge in the share of consumer loans in its portfolio over the past two years, and amid preemptive provisioning as macroeconomic conditions become more challenging.\n\u201cThe bank\u2019s high concentration to large corporate loans and long-dated investment securities will also pose risks to its asset quality.\u201d\nThe credit rater sees BDO\u2019s return on assets (RoA) to range from 1.4% to 1.5% this year as net interest margin (NIM) stabilizes, even while credit costs and operating expenses remain elevated.\nMeanwhile, capitalization will stay adequate, although capital generation may grow slower as credit demand eases. Widening government bond yields could also hit its Tier 1 ratio.\nMoody\u2019s said BDO\u2019s deposit ratings will depend largely on the movement of the Philippines\u2019 sovereign rating as they are at the same level.\nMeanwhile, a significant deterioration in its asset quality, which could drive up credit costs and hit its earnings, as well as increased risks from related party lending or loan concentration, could lead to a downgrade.\nBPI\nFor BPI, Moody\u2019s said it credit strengths are strong profitability, adequate capital, healthy liquidity, and stable funding supported by its solid deposit franchise. \nThese balance out its weakening loan quality as it continues to expand its higher-risk retail lending businesses and amid \u201cchallenges\u201d in its corporate segment after it reported in the first quarter that \u201cseveral corporate loans slipped into problem loans due to challenges unrelated to the conflict in the Middle East.\u201d\nIt said the bank\u2019s problem loan ratio and credit costs have increased amid the seasoning of its retail loans and heightened macroeconomic risks.\n\u201cWe expect the retail segments to experience further strain in 2026, given the shrinking financial buffers of retail borrowers amid higher inflation in the Philippines,\u201d Moody\u2019s said.\n\u201cAlthough the bank has tightened credit underwriting and plans to moderate its retail loan growth, we expect the bank\u2019s asset risks to remain elevated, with credit costs normalizing closer to the 0.9% range in 2026. The bank\u2019s high concentration to large corporate loans and long-dated investment securities will also pose risks to its asset quality.\u201d\nMeanwhile, the bank\u2019s NIM will likely continue expanding in line with growth in its retail loan, while its RoA could decline slightly due to elevated credit costs.\n\u201cAdditionally, lower repayment capacities of retail borrowers amid higher inflation will add further upside on the bank\u2019s credit costs.\u201d\nThe debt watcher said BPI\u2019s funding and liquidity will remain strong thanks to its strong deposit base.\n\u201cAlthough the bank\u2019s current and savings account deposit ratio has declined to 60% as of March 2026, from 63% the year before, the bank\u2019s cost of funds remains one of the lowest among its domestic rated peers. As of end-2025, the bank\u2019s less-stable funds ratio stood at a good level of 17.1% and its core banking liquid assets ratio was 21.7%.\u201d\nLike BDO, BPI\u2019s ratings will hinge on the movement of the Philippines\u2019 sovereign rating as they are at the same level.\nDowngrades could be possible if its solvency metrics, including its asset quality and liquidity ratios, worsen significantly. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-22T00:07:25+08:00", "date_modified": "2026-05-21T19:22:36+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/05/Moodys.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=751325", "url": "/banking-finance/2026/05/22/751325/metrobank-taps-ex-sun-life-philippines-country-head-as-independent-director/", "title": "Metrobank taps ex-Sun Life Philippines country head as independent director", "content_html": "METROPOLITAN Bank & Trust Co. (Metrobank) has appointed former Sun Life of Canada (Philippines), Inc. (Sun Life Philippines) Chief Executive Officer and Country Head Benedict C. Sison as its new independent director.
\nThis came after the resignation of Philippine Savings Bank President Jose Vicente L. Alde as Metrobank director to focus on the thrift bank.
\n\u201cHis invaluable contributions over the past four years have been instrumental to Metrobank\u2019s sustained success. He will continue to provide strategic leadership within the Metrobank Group,\u201d Metrobank said.
\nMeanwhile, Mr. Sison, who retired from Sun Life Philippines earlier this year, is the fifth independent director to serve Metrobank\u2019s board.
\n\u201cA renowned veteran of the insurance industry, Mr. Sison\u2019s appointment underscored the bank\u2019s commitment to upholding the highest standards of corporate governance.\u201d
\nMr. Sison was also appointed as chairman of the board\u2019s Audit Committee and a regular member of the Risk Oversight Committee.
\nMeanwhile, Metrobank\u2019s board appointed Vice Chairman Francisco C. Sebastian as director of the Trust Committee, a seat previously held by director Anthony Paul C. Yap.
\nMr. Sebastian\u2019s previous role in the IT Steering Committee has now been assumed by Metrobank President and Director Fabian S. Dee.
\nMetrobank\u2019s attributable net income grew by 2.68% year on year to P12.603 billion in the first quarter. Its shares closed at P63 apiece on Thursday, down 35 centavos or 0.55% from Wednesday\u2019s finish. \u2014 Aaron Michael C. Sy
\n", "content_text": "METROPOLITAN Bank & Trust Co. (Metrobank) has appointed former Sun Life of Canada (Philippines), Inc. (Sun Life Philippines) Chief Executive Officer and Country Head Benedict C. Sison as its new independent director.\nThis came after the resignation of Philippine Savings Bank President Jose Vicente L. Alde as Metrobank director to focus on the thrift bank.\n\u201cHis invaluable contributions over the past four years have been instrumental to Metrobank\u2019s sustained success. He will continue to provide strategic leadership within the Metrobank Group,\u201d Metrobank said.\nMeanwhile, Mr. Sison, who retired from Sun Life Philippines earlier this year, is the fifth independent director to serve Metrobank\u2019s board.\n\u201cA renowned veteran of the insurance industry, Mr. Sison\u2019s appointment underscored the bank\u2019s commitment to upholding the highest standards of corporate governance.\u201d\nMr. Sison was also appointed as chairman of the board\u2019s Audit Committee and a regular member of the Risk Oversight Committee.\nMeanwhile, Metrobank\u2019s board appointed Vice Chairman Francisco C. Sebastian as director of the Trust Committee, a seat previously held by director Anthony Paul C. Yap.\nMr. Sebastian\u2019s previous role in the IT Steering Committee has now been assumed by Metrobank President and Director Fabian S. Dee.\nMetrobank\u2019s attributable net income grew by 2.68% year on year to P12.603 billion in the first quarter. Its shares closed at P63 apiece on Thursday, down 35 centavos or 0.55% from Wednesday\u2019s finish. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-22T00:06:24+08:00", "date_modified": "2026-05-21T19:23:01+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Metrobank-Benedict-C.-Sison.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=751324", "url": "/banking-finance/2026/05/22/751324/bpi-may-issue-first-blue-bond-this-year/", "title": "BPI may issue first blue bond this year", "content_html": "BANK of the Philippine Islands (BPI) could issue its first blue bond within the year but remains open to other funding options amid surging interest rates.
\n\u201cOne of the things that we would really like to do is issue a blue bond which is linked to water-related investments. Not only because we put the effort to get the framework in, but also because we think that there is demand from some of the vendors. As we market the bond, we create awareness for some of these projects,\u201d BPI Chief Financial and Sustainability Officer Eric M. Luchangco said at a media briefing on Thursday.
\nThe bank has over P50 billion in assets it can finance under the blue bond framework, he added.
\nHowever, higher interest rates due to the Middle East conflict have made the bank hesitant about tapping the debt market.
\n\u201cI think the deeper issue potentially preventing or affecting the timing of the issue is probably the global circumstances. If you had asked us in February, for example, whether we thought the market would be open for us to do an issue, I think the answer would have been, \u2018we don\u2019t have any issues there.\u2019 But the Middle East conflict really created some more volatility in the market. And I mean, I\u2019m sure you\u2019ve seen interest rates swing very high,\u201d he said at the sidelines of the same briefing.
\nThe bank could also tap other funding options to refinance a coming maturity in the third quarter, such as how it issued a green bond last year with the International Finance Corp. (IFC) as the sole subscriber that invested $250 million to help boost climate finance in the country.
\n\u201cWith IFC, it was not a widespread bond, but basically a corporate note that we bought.
\nIf that turns out to be more efficient for us, then we may go down that route again. Or if the public market seems more efficient for us, then we may go down that route,\u201d Mr. Luchangco said.
\nThe bank in June last year also raised P40 billion from 1.5-year SINAG or Supporting Inclusion, Nature, and Growth Bonds at 5.85% per annum, well above the P5-billion target.
\nHe added that the bank is not under any pressure to issue bonds as market conditions remain uncertain.
\nBPI\u2019s net income rose by 1.7% to P16.92 billion in the first quarter. Its shares went up by P2.4 or 2.76% to close at P89.50 each on Thursday. \u2014 Aaron Michael C. Sy
\n", "content_text": "BANK of the Philippine Islands (BPI) could issue its first blue bond within the year but remains open to other funding options amid surging interest rates.\n\u201cOne of the things that we would really like to do is issue a blue bond which is linked to water-related investments. Not only because we put the effort to get the framework in, but also because we think that there is demand from some of the vendors. As we market the bond, we create awareness for some of these projects,\u201d BPI Chief Financial and Sustainability Officer Eric M. Luchangco said at a media briefing on Thursday.\nThe bank has over P50 billion in assets it can finance under the blue bond framework, he added.\nHowever, higher interest rates due to the Middle East conflict have made the bank hesitant about tapping the debt market.\n\u201cI think the deeper issue potentially preventing or affecting the timing of the issue is probably the global circumstances. If you had asked us in February, for example, whether we thought the market would be open for us to do an issue, I think the answer would have been, \u2018we don\u2019t have any issues there.\u2019 But the Middle East conflict really created some more volatility in the market. And I mean, I\u2019m sure you\u2019ve seen interest rates swing very high,\u201d he said at the sidelines of the same briefing.\nThe bank could also tap other funding options to refinance a coming maturity in the third quarter, such as how it issued a green bond last year with the International Finance Corp. (IFC) as the sole subscriber that invested $250 million to help boost climate finance in the country.\n\u201cWith IFC, it was not a widespread bond, but basically a corporate note that we bought.\nIf that turns out to be more efficient for us, then we may go down that route again. Or if the public market seems more efficient for us, then we may go down that route,\u201d Mr. Luchangco said.\nThe bank in June last year also raised P40 billion from 1.5-year SINAG or Supporting Inclusion, Nature, and Growth Bonds at 5.85% per annum, well above the P5-billion target.\nHe added that the bank is not under any pressure to issue bonds as market conditions remain uncertain.\nBPI\u2019s net income rose by 1.7% to P16.92 billion in the first quarter. Its shares went up by P2.4 or 2.76% to close at P89.50 each on Thursday. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-22T00:05:24+08:00", "date_modified": "2026-05-21T19:19:58+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/03/BPI-Davao-Azuela-Cove.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=751323", "url": "/banking-finance/2026/05/22/751323/gsis-q1-net-earnings-jump-to-p43-6b-as-contributions-grow/", "title": "GSIS Q1 net earnings jump to P43.6B as contributions grow", "content_html": "THE GOVERNMENT Service Insurance System (GSIS) posted a 170% increase in net income for the first quarter amid higher revenues, driven mainly by contributions.
\nThe state pension fund\u2019s net income stood to P43.6 billion in the period from P16.1 billion in the same period last year.
\nThis was already over 30% of its full-year profit target of P130.91 billion.
\nInsurance income, which is the GSIS\u2019 primary revenue line, increased by 9.16% to P56.6 billion in the January-to-March period from P4.75 billion a year ago.
\nThis came amid higher social insurance contributions as collections were supported by its growing member base and higher agency remittances.
\nMeanwhile, investment income from financial assets jumped to P27.4 billion from P1.2 billion, supported by gains from equity valuations and favorable foreign exchange movements.
\nLoan income stood at P10.7 billion in the first quarter amid higher disbursements across Ginhawa Loan facilities.
\nGSIS said the Ginhawa Solar Energy Loan contributed P890 million in its first week of operations after the state pension fund started accepting applications on March 25.
\nAs a result, gross income stood at P95.8 billion in the quarter, up 43.83% from P66.6 billion a year ago.
\nMeanwhile, the pension fund\u2019s total expenses went up by 3.3% year on year to P52.1 billion from P50.5 billion. It said 95% of total expenses were paid claims and benefits, which rose by 4.73% to P49.5 billion in the first quarter amid higher pension payments.
\nThe average monthly old age pension rose to P18,874.58 in 2026 from P17,809.10 in 2025, it added.
\n\u201cThe fund grew this quarter and paid out more than it did a year ago. That is the baseline we hold ourselves to every reporting period,\u201d GSIS President and General Manager Jose Arnulfo \u201cWick\u201d A. Veloso said in a statement.
\nAdministrative costs, covering personnel services and operating expenses, stood at P2.44 billion. This made up about 4.7% of total expenses, well below the 12% ceiling set by the GSIS Charter.
\n\u201cAdministrative costs at 4.7% means more than 95 centavos of every peso in expenses went directly to members,\u201d Mr. Veloso said.
\nGSIS booked total assets amounting to P2 trillion at end-March, up from P1.96 trillion as of end-2025.
\nThis puts the fund on track to reach P2.1 trillion in total assets by the end of the year.
\n\u201cBased on the fund\u2019s latest actuarial study, the GSIS has a life extending to 2058, ensuring that benefits remain secure for the next generation of government workers and retirees,\u201d it said. \u2014 Aaron Michael C. Sy
\n", "content_text": "THE GOVERNMENT Service Insurance System (GSIS) posted a 170% increase in net income for the first quarter amid higher revenues, driven mainly by contributions.\nThe state pension fund\u2019s net income stood to P43.6 billion in the period from P16.1 billion in the same period last year.\nThis was already over 30% of its full-year profit target of P130.91 billion.\nInsurance income, which is the GSIS\u2019 primary revenue line, increased by 9.16% to P56.6 billion in the January-to-March period from P4.75 billion a year ago.\nThis came amid higher social insurance contributions as collections were supported by its growing member base and higher agency remittances.\nMeanwhile, investment income from financial assets jumped to P27.4 billion from P1.2 billion, supported by gains from equity valuations and favorable foreign exchange movements.\nLoan income stood at P10.7 billion in the first quarter amid higher disbursements across Ginhawa Loan facilities.\nGSIS said the Ginhawa Solar Energy Loan contributed P890 million in its first week of operations after the state pension fund started accepting applications on March 25.\nAs a result, gross income stood at P95.8 billion in the quarter, up 43.83% from P66.6 billion a year ago.\nMeanwhile, the pension fund\u2019s total expenses went up by 3.3% year on year to P52.1 billion from P50.5 billion. It said 95% of total expenses were paid claims and benefits, which rose by 4.73% to P49.5 billion in the first quarter amid higher pension payments.\nThe average monthly old age pension rose to P18,874.58 in 2026 from P17,809.10 in 2025, it added.\n\u201cThe fund grew this quarter and paid out more than it did a year ago. That is the baseline we hold ourselves to every reporting period,\u201d GSIS President and General Manager Jose Arnulfo \u201cWick\u201d A. Veloso said in a statement.\nAdministrative costs, covering personnel services and operating expenses, stood at P2.44 billion. This made up about 4.7% of total expenses, well below the 12% ceiling set by the GSIS Charter.\n\u201cAdministrative costs at 4.7% means more than 95 centavos of every peso in expenses went directly to members,\u201d Mr. Veloso said.\nGSIS booked total assets amounting to P2 trillion at end-March, up from P1.96 trillion as of end-2025.\nThis puts the fund on track to reach P2.1 trillion in total assets by the end of the year.\n\u201cBased on the fund\u2019s latest actuarial study, the GSIS has a life extending to 2058, ensuring that benefits remain secure for the next generation of government workers and retirees,\u201d it said. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-22T00:04:24+08:00", "date_modified": "2026-05-21T19:19:32+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/thumbnail-4.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "id": "/?p=751322", "url": "/banking-finance/2026/05/22/751322/peso-strengthens-as-markets-stay-hopeful-on-us-iran-deal/", "title": "Peso strengthens as markets stay hopeful on US-Iran deal", "content_html": "THE PESO appreciated against the dollar on Thursday after the United States again signaled a possible end to the Middle East conflict.
\nThe currency closed at P61.581 versus the dollar, gaining 15.9 centavos from its P61.74 finish on Wednesday, according to Bankers Association of the Philippines data posted on its website.
\nThe local unit opened Thursday\u2019s session sharply stronger at P61.50 per dollar. Its intraday best was at P61.45 against the greenback, while its weakest showing was at P61.665.
\nDollars traded increased to $1.58 billion from $1.54 billion in the previous session.
\n\u201cThe peso appreciated after US President [Donald J.] Trump hinted about an impending end to the US-Iran conflict following his favorable remarks on the Iranian authorities in relation to their diplomatic talks,\u201d a trader said in an e-mail.
\nThe currency was also supported by the downward correction in global crude oil prices following Mr. Trump\u2019s remarks, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
\nFor Friday, the trader said the peso could continue to strengthen amid market optimism over an eventual resumption of oil trade along the Strait of Hormuz.
\nThe trader sees the peso moving between P61.45 and P61.70 against the dollar on Friday, while Mr. Ricafort expects it to move between P61.45 and P61.65.
\nThe US dollar firmed on Thursday but stayed below a six-week peak as hopes that Washington was nearing a deal with Tehran to end the war in the Middle East capped further rises, Reuters reported.
\nMr. Trump on Wednesday said negotiations with Tehran were in the final stages, while also warning of further attacks if Iran does not agree to a deal.
\nThe dollar, often a safe haven for investors, firmed 0.1% against the yen to \u00a5159.060 after falling for the first time in eight sessions against the yen on Wednesday.
\nBank of Japan policy board member Junko Koeda added a measure of support for the yen with hawkish comments on Thursday, saying in a speech that the central bank needs to continue to raise rates with underlying inflation already around a 2% target.
\nThe euro was 0.2% down at $1.160050, after dipping on Wednesday to its weakest level since April 7 at $1.1583 before bouncing back.
\nThe dollar index, which measures the currency against the euro, yen and four other rivals, rose 0.2% to 99.295, down from a peak of 99.472 on Wednesday, the strongest level since April 7.
\n\u201cThe \u2018safe haven\u2019 flows reversed because of positive news about the Iran war,\u201d wrote Joseph Capurso, head of FX at Commonwealth Bank of Australia, in a client note.
\nAt the same time, \u201cwhile the US has domestic political incentives to seek peace, we would not be surprised if President Trump chooses military escalation to gain leverage in negotiations,\u201d he said.
\nMarket focus has been on the potential inflationary impact of higher energy prices as the Strait of Hormuz remains largely closed to shipping.
\nIn a note, Commerzbank FX analysts said many central banks may label the inflation shock as transitory should the Strait open in the next few days, but this would be incorrect as it does not take into account loss of purchasing power.
\n\u201cConsequently, currencies are likely to benefit in countries where the central bank is slower to speak of transitory price spikes but may nevertheless tighten monetary policy,\u201d they wrote.
\nNotes from the Federal Reserve\u2019s April meeting, published on Wednesday, revealed officials\u2019 intensifying concerns about inflation, with a growing number open to the possibility that they may need to raise interest rates.
\nElsewhere, the Australian dollar declined following a surprise rise in the unemployment rate to the highest since 2021, which reduced the case for higher interest rates.
\nBitcoin softened a fraction to around $77,603.16. \u2014 Aaron Michael C. Sy with Reuters
\n", "content_text": "THE PESO appreciated against the dollar on Thursday after the United States again signaled a possible end to the Middle East conflict.\nThe currency closed at P61.581 versus the dollar, gaining 15.9 centavos from its P61.74 finish on Wednesday, according to Bankers Association of the Philippines data posted on its website.\nThe local unit opened Thursday\u2019s session sharply stronger at P61.50 per dollar. Its intraday best was at P61.45 against the greenback, while its weakest showing was at P61.665.\nDollars traded increased to $1.58 billion from $1.54 billion in the previous session.\n\u201cThe peso appreciated after US President [Donald J.] Trump hinted about an impending end to the US-Iran conflict following his favorable remarks on the Iranian authorities in relation to their diplomatic talks,\u201d a trader said in an e-mail.\nThe currency was also supported by the downward correction in global crude oil prices following Mr. Trump\u2019s remarks, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.\nFor Friday, the trader said the peso could continue to strengthen amid market optimism over an eventual resumption of oil trade along the Strait of Hormuz.\nThe trader sees the peso moving between P61.45 and P61.70 against the dollar on Friday, while Mr. Ricafort expects it to move between P61.45 and P61.65.\nThe US dollar firmed on Thursday but stayed below a six-week peak as hopes that Washington was nearing a deal with Tehran to end the war in the Middle East capped further rises, Reuters reported.\nMr. Trump on Wednesday said negotiations with Tehran were in the final stages, while also warning of further attacks if Iran does not agree to a deal.\nThe dollar, often a safe haven for investors, firmed 0.1% against the yen to \u00a5159.060 after falling for the first time in eight sessions against the yen on Wednesday.\nBank of Japan policy board member Junko Koeda added a measure of support for the yen with hawkish comments on Thursday, saying in a speech that the central bank needs to continue to raise rates with underlying inflation already around a 2% target.\nThe euro was 0.2% down at $1.160050, after dipping on Wednesday to its weakest level since April 7 at $1.1583 before bouncing back.\nThe dollar index, which measures the currency against the euro, yen and four other rivals, rose 0.2% to 99.295, down from a peak of 99.472 on Wednesday, the strongest level since April 7.\n\u201cThe \u2018safe haven\u2019 flows reversed because of positive news about the Iran war,\u201d wrote Joseph Capurso, head of FX at Commonwealth Bank of Australia, in a client note.\nAt the same time, \u201cwhile the US has domestic political incentives to seek peace, we would not be surprised if President Trump chooses military escalation to gain leverage in negotiations,\u201d he said.\nMarket focus has been on the potential inflationary impact of higher energy prices as the Strait of Hormuz remains largely closed to shipping.\nIn a note, Commerzbank FX analysts said many central banks may label the inflation shock as transitory should the Strait open in the next few days, but this would be incorrect as it does not take into account loss of purchasing power.\n\u201cConsequently, currencies are likely to benefit in countries where the central bank is slower to speak of transitory price spikes but may nevertheless tighten monetary policy,\u201d they wrote.\nNotes from the Federal Reserve\u2019s April meeting, published on Wednesday, revealed officials\u2019 intensifying concerns about inflation, with a growing number open to the possibility that they may need to raise interest rates.\nElsewhere, the Australian dollar declined following a surprise rise in the unemployment rate to the highest since 2021, which reduced the case for higher interest rates.\nBitcoin softened a fraction to around $77,603.16. \u2014 Aaron Michael C. Sy with Reuters", "date_published": "2026-05-22T00:03:23+08:00", "date_modified": "2026-05-21T19:25:05+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2024/04/Peso-currency.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "One News", "大象传媒" ] }, { "id": "/?p=751321", "url": "/banking-finance/2026/05/22/751321/manulife-philippines-appoints-new-deputy-ceo/", "title": "Manulife Philippines appoints new deputy CEO\u00a0", "content_html": "THE Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has appointed Manish Sangal as its new deputy chief executive officer (CEO).
\n\u201cManish is a proven insurance leader who combines strategic clarity with disciplined execution,\u201d Manulife Philippines President and CEO Rahul Hora said in a statement on Thursday.
\n\u201cHis track record in agency development and digital transformation, along with his strong culture-building leadership, will help us accelerate our growth ambitions, strengthen our competitiveness, and create even more value for our customers and distribution partners in the Philippines.\u201d
\nMr. Sangal will report directly to Mr. Hora and will work on the insurer\u2019s priority transformation and business initiatives. These include advancing technology and artificial intelligence (AI) innovation and expanding its corporate solutions, among others.
\n\u201cI\u2019m honored to take on this role and to partner with our talented teams across Manulife Philippines,\u201d Mr. Sangal said. \u201cBacked by 119 years of rich understanding of the Filipino customer, we have an exciting opportunity to scale our agency strength, enhance customer engagement through data, digital, and AI, and bring innovative and market-leading health and life protection solutions \u2014 making decisions easier and lives better for more families in the Philippines.\u201d
\nPrior to his appointment to the post, he was chief agency officer at Manulife Vietnam for over three years.
\nLatest Insurance Commission data showed Manulife Philippines\u2019 premium income stood at P14.39 billion in 2025, while net income was at P1.97 billion. \u2014 A.M.C. Sy
\n", "content_text": "THE Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has appointed Manish Sangal as its new deputy chief executive officer (CEO).\n\u201cManish is a proven insurance leader who combines strategic clarity with disciplined execution,\u201d Manulife Philippines President and CEO Rahul Hora said in a statement on Thursday.\n\u201cHis track record in agency development and digital transformation, along with his strong culture-building leadership, will help us accelerate our growth ambitions, strengthen our competitiveness, and create even more value for our customers and distribution partners in the Philippines.\u201d\nMr. Sangal will report directly to Mr. Hora and will work on the insurer\u2019s priority transformation and business initiatives. These include advancing technology and artificial intelligence (AI) innovation and expanding its corporate solutions, among others.\n\u201cI\u2019m honored to take on this role and to partner with our talented teams across Manulife Philippines,\u201d Mr. Sangal said. \u201cBacked by 119 years of rich understanding of the Filipino customer, we have an exciting opportunity to scale our agency strength, enhance customer engagement through data, digital, and AI, and bring innovative and market-leading health and life protection solutions \u2014 making decisions easier and lives better for more families in the Philippines.\u201d\nPrior to his appointment to the post, he was chief agency officer at Manulife Vietnam for over three years.\nLatest Insurance Commission data showed Manulife Philippines\u2019 premium income stood at P14.39 billion in 2025, while net income was at P1.97 billion. \u2014 A.M.C. Sy", "date_published": "2026-05-22T00:02:23+08:00", "date_modified": "2026-05-21T19:18:00+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Manish-Sangal.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "id": "/?p=751319", "url": "/banking-finance/2026/05/22/751319/intellectual-property-and-ai-a-bad-romance/", "title": "Intellectual property and AI: a bad romance?", "content_html": "The topics du jour for many local business and legal conferences continue to be about AI, \u201cdigital transformation,\u201d \u201ctechnology x [fill-in-the-blanks].\u201d Discussions, however, tend to be generalized. Real takeaways can get drowned by the usual discourse on AI\u2019s utility and inevitability and/or warnings about the loss of a competitiveness for businesses who fail to adopt AI.
\nWhat might be a more useful approach is to focus on clear, discrete issues.
\nA panel discussion titled \u201cYou Prompt It, You Own It? Intellectual Property in the AI Era,\u201d conducted last March during The Legal 500 GC Summit 2026, tried to do just that. Despite the shortness of the session, the panel members were able to identify key legal issues arising from the impact of AI use on intellectual property (IP) and set out specific views under current law.
\nI am sharing some of the talking points below:
\n1. What is the core IP problem with AI?
\nIt was pointed out that the foundational idea of IP law is that intellectual works are created by humans, and AI challenges that concept. Thus, the questions that need to be confronted: Are AI-generated works even protectable? Who owns AI-generated works? How do you enforce IP rights over AI-generated works?
\n2. Who owns AI-generated work under IP law?
\nSo who owns AI-generated work? Resolving this question may depend on what kind of asset is involved. A panel member noted that AI-generated trademarks should be registrable because Section 121 of the Intellectual Property Code of the Philippines (IP Code) does not distinguish between trademarks that are created by humans and those generated by AI. Copyright, on the other hand, more readily triggers the IP law notion that only humans can create, and indeed the IP Code provides that only natural persons (i.e. \u201cauthors\u201d) can be owners of copyrighted works.
\n3. What are some of the IP risk mitigants in using AI?
\nA common (and probably the most practical) approach to dealing with AI-triggered risks for IP is documentation \u2014 whether it is about setting out who owns what (e.g., whatever is produced by developers for a client) or seeking representations of non-infringement. Of course, the context for the protection\u2019s operation is defined \u2014 parties contractually dealing with each other, and essentially assigning risk via agreement. However, the utility of the protection can depend on whether there can be meaningful recourse against an infringing party.
\n4. How would enforcement play out when your AI produces infringing content?
\nOne of the panel members, Intellectual Property Office of the Philippines (IPOPHL) Bureau of Legal Affairs, Director Christine V. Pangilinan-Canlapan, highlighted the dispute resolution mechanisms available at the IPOPHL, such as mediation through its Alternative Dispute Resolution Services (ADRS), as well as arbitration. Director Canlapan also pointed out that the Bureau of Legal Affairs of the IPOPHL, as a quasi-judicial entity, would likely follow the Supreme Court\u2019s lead pursuant to the Supreme Court\u2019s new governance framework on the use of \u201chuman-centered augmented intelligence.\u201d
\n5. What issues about AI and IP should rightly keep in-house counsel up at night?
\nThe answers from the panel? It is crucial that businesses be transparent to the IPOPHL about their use of AI when seeking to register their IP.
\nGeneral counsels should carefully vet the AI solutions that they will be using.
\nIt is important that business teams understand that IP registrations and recordals are privileges and that companies should use their IP assets in a responsible way.
\nIn-house counsels should be attentive and agile, and know where the risks are, particularly where AI is used in their IP.
\nTaking the cue from this panel, business teams that want to get a more useful, practical handle on AI should try to first identify which specific areas (labor, consumer protection privacy, special regulations) when juxtaposed with AI, worries them the most, and then seek more in-depth legal discussion about that juxtaposition.
\nAside from Director Canlapan, the other panel members were Kristian Nico Calugay Acosta (Chief Legal Officer and General Counsel of the CTI Group), William Chino T. Adasa (Enterprise Account Director of Amazon Web Services), and Ma. Patricia B. Paz-Jacoba (Partner at SyCip Salazar Hernandez & Gatmaitan). Her colleague, Leo Abot, moderated the panel.
\nThe views expressed herein are the author\u2019s own and do not necessarily reflect the opinion of her office as well as FINEX.
\n\n
Rose Marie M. King-Dominguez is a senior partner of SyCip Salazar Hernandez & Gatmaitan and the head of the firm\u2019s Special Projects Department. She is a FINEX member.
\n", "content_text": "The topics du jour for many local business and legal conferences continue to be about AI, \u201cdigital transformation,\u201d \u201ctechnology x [fill-in-the-blanks].\u201d Discussions, however, tend to be generalized. Real takeaways can get drowned by the usual discourse on AI\u2019s utility and inevitability and/or warnings about the loss of a competitiveness for businesses who fail to adopt AI.\nWhat might be a more useful approach is to focus on clear, discrete issues.\nA panel discussion titled \u201cYou Prompt It, You Own It? Intellectual Property in the AI Era,\u201d conducted last March during The Legal 500 GC Summit 2026, tried to do just that. Despite the shortness of the session, the panel members were able to identify key legal issues arising from the impact of AI use on intellectual property (IP) and set out specific views under current law.\nI am sharing some of the talking points below:\n1. What is the core IP problem with AI?\nIt was pointed out that the foundational idea of IP law is that intellectual works are created by humans, and AI challenges that concept. Thus, the questions that need to be confronted: Are AI-generated works even protectable? Who owns AI-generated works? How do you enforce IP rights over AI-generated works?\n2. Who owns AI-generated work under IP law?\nSo who owns AI-generated work? Resolving this question may depend on what kind of asset is involved. A panel member noted that AI-generated trademarks should be registrable because Section 121 of the Intellectual Property Code of the Philippines (IP Code) does not distinguish between trademarks that are created by humans and those generated by AI. Copyright, on the other hand, more readily triggers the IP law notion that only humans can create, and indeed the IP Code provides that only natural persons (i.e. \u201cauthors\u201d) can be owners of copyrighted works.\n3. What are some of the IP risk mitigants in using AI?\nA common (and probably the most practical) approach to dealing with AI-triggered risks for IP is documentation \u2014 whether it is about setting out who owns what (e.g., whatever is produced by developers for a client) or seeking representations of non-infringement. Of course, the context for the protection\u2019s operation is defined \u2014 parties contractually dealing with each other, and essentially assigning risk via agreement. However, the utility of the protection can depend on whether there can be meaningful recourse against an infringing party.\n4. How would enforcement play out when your AI produces infringing content?\nOne of the panel members, Intellectual Property Office of the Philippines (IPOPHL) Bureau of Legal Affairs, Director Christine V. Pangilinan-Canlapan, highlighted the dispute resolution mechanisms available at the IPOPHL, such as mediation through its Alternative Dispute Resolution Services (ADRS), as well as arbitration. Director Canlapan also pointed out that the Bureau of Legal Affairs of the IPOPHL, as a quasi-judicial entity, would likely follow the Supreme Court\u2019s lead pursuant to the Supreme Court\u2019s new governance framework on the use of \u201chuman-centered augmented intelligence.\u201d\n5. What issues about AI and IP should rightly keep in-house counsel up at night?\nThe answers from the panel? It is crucial that businesses be transparent to the IPOPHL about their use of AI when seeking to register their IP.\nGeneral counsels should carefully vet the AI solutions that they will be using.\nIt is important that business teams understand that IP registrations and recordals are privileges and that companies should use their IP assets in a responsible way.\nIn-house counsels should be attentive and agile, and know where the risks are, particularly where AI is used in their IP.\nTaking the cue from this panel, business teams that want to get a more useful, practical handle on AI should try to first identify which specific areas (labor, consumer protection privacy, special regulations) when juxtaposed with AI, worries them the most, and then seek more in-depth legal discussion about that juxtaposition.\nAside from Director Canlapan, the other panel members were Kristian Nico Calugay Acosta (Chief Legal Officer and General Counsel of the CTI Group), William Chino T. Adasa (Enterprise Account Director of Amazon Web Services), and Ma. Patricia B. Paz-Jacoba (Partner at SyCip Salazar Hernandez & Gatmaitan). Her colleague, Leo Abot, moderated the panel.\nThe views expressed herein are the author\u2019s own and do not necessarily reflect the opinion of her office as well as FINEX.\n \nRose Marie M. King-Dominguez is a senior partner of SyCip Salazar Hernandez & Gatmaitan and the head of the firm\u2019s Special Projects Department. She is a FINEX member.", "date_published": "2026-05-22T00:01:22+08:00", "date_modified": "2026-05-21T19:12:56+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/04/banking-and-finance-default.jpg", "tags": [ "FINEX Folio", "Rose Marie M. King-Dominguez", "Banking & Finance" ] }, { "id": "/?p=750966", "url": "/banking-finance/2026/05/21/750966/bsp-plans-stricter-sustainability-reporting-rules-for-banks-by-2027/", "title": "BSP plans stricter sustainability reporting rules for banks by 2027", "content_html": "PHILIPPINE BANKS may soon be required to adopt stricter international reporting standards related to sustainability as the Bangko Sentral ng Pilipinas (BSP) noted the growing risks posed by climate change to financial stability.
\nAccording to a draft circular, the central bank is eyeing a phased implementation of the Philippine Financial Reporting Standards (PFRS) S1, or the General Requirements for Disclosure of Sustainability-related Financial Information, and S2, or Climate-related Disclosures, starting next year for universal and commercial banks.
\n\u201cSubsequent global and local developments have underscored the need for more robust and consistent sustainability reporting, as climate change increasingly poses risks to financial stability and stakeholders demand more reliable and decision-useful information,\u201d the BSP said in an explanatory note.
\n\u201cThe amended requirements aim to enhance the quality, consistency, and comparability of sustainability-related information disclosed by banks, strengthen market discipline, and support stakeholders in making well-informed assessments of sustainability-related risks, opportunities, and long-term resilience,\u201d it said. \u201cMoreover, the amendments promote better integration of sustainability-related risks and opportunities into banks\u2019 corporate governance and risk management framework.\u201d
\nThe implementation schedule will depend on the banks\u2019 size and market capitalization, which will follow the principle of proportionality.
\nUnder Tier 1, publicly listed banks holding over P50 billion in market capitalization as of Dec. 31, 2025 or as of listing date must comply with the new reporting standards starting 2027.
\nMeanwhile, Tier 2 covers publicly listed banks with P3 billion to P50 billion in capital and nonlisted large banks with P50-billion capital, with reporting beginning 2028.
\nLastly, under Tier 3 are publicly listed lenders with capitalization under P3 billion, nonlisted large banks with less than P50 billion in capital, and listed banks whose debt securities are only listed on the Philippine Dealing & Exchange Corp. and without listed equity securities on the Philippine Stock Exchange. Their first reporting will be in 2029.
\nBased on the proposed circular, all banks may submit their reports later than their related audited financial statements for the first reporting year.
\nThese may be filed either with their next second-quarter or half-year interim financial statements, or within nine months from the end of the reporting period if they do not issue interim financial statements.
\nThe BSP will also grant banks transitory relief until the initial implementation phase next year, where they may observe the minimum disclosure requirements currently applicable to those not covered by the PFRS S1 and S2.
\nThey were told to update their internal processes, data systems, and disclosures before implementation starts.
\nMeanwhile, additional implementation phases will be set for other financial institutions such as nonlisted thrift, rural, cooperative, digital, and Islamic banks.
\nHowever, they will be required to include related information in their annual reports, such as their overall sustainability strategic objectives and risk appetite; overview of their environmental and social (E&S) risk management system and its interactions with credit, operational, and/or liquidity risk management; their products or services aligned with sustainable finance frameworks; and the breakdown of their E&S risk exposures by industry, sector, or location.
\nThe BSP\u2019s proposed issuance comes as the Securities and Exchange Commission (SEC) released a memorandum circular last year that sets similar rules for publicly listed companies and large nonlisted entities.
\nIt said that banks already covered by this measure may submit the same sustainability report to both the BSP and the SEC, which may be filed together with their annual report. \u2014 Katherine K. Chan
\n", "content_text": "PHILIPPINE BANKS may soon be required to adopt stricter international reporting standards related to sustainability as the Bangko Sentral ng Pilipinas (BSP) noted the growing risks posed by climate change to financial stability.\nAccording to a draft circular, the central bank is eyeing a phased implementation of the Philippine Financial Reporting Standards (PFRS) S1, or the General Requirements for Disclosure of Sustainability-related Financial Information, and S2, or Climate-related Disclosures, starting next year for universal and commercial banks.\n\u201cSubsequent global and local developments have underscored the need for more robust and consistent sustainability reporting, as climate change increasingly poses risks to financial stability and stakeholders demand more reliable and decision-useful information,\u201d the BSP said in an explanatory note.\n\u201cThe amended requirements aim to enhance the quality, consistency, and comparability of sustainability-related information disclosed by banks, strengthen market discipline, and support stakeholders in making well-informed assessments of sustainability-related risks, opportunities, and long-term resilience,\u201d it said. \u201cMoreover, the amendments promote better integration of sustainability-related risks and opportunities into banks\u2019 corporate governance and risk management framework.\u201d\nThe implementation schedule will depend on the banks\u2019 size and market capitalization, which will follow the principle of proportionality. \nUnder Tier 1, publicly listed banks holding over P50 billion in market capitalization as of Dec. 31, 2025 or as of listing date must comply with the new reporting standards starting 2027.\nMeanwhile, Tier 2 covers publicly listed banks with P3 billion to P50 billion in capital and nonlisted large banks with P50-billion capital, with reporting beginning 2028.\nLastly, under Tier 3 are publicly listed lenders with capitalization under P3 billion, nonlisted large banks with less than P50 billion in capital, and listed banks whose debt securities are only listed on the Philippine Dealing & Exchange Corp. and without listed equity securities on the Philippine Stock Exchange. Their first reporting will be in 2029. \nBased on the proposed circular, all banks may submit their reports later than their related audited financial statements for the first reporting year.\nThese may be filed either with their next second-quarter or half-year interim financial statements, or within nine months from the end of the reporting period if they do not issue interim financial statements. \nThe BSP will also grant banks transitory relief until the initial implementation phase next year, where they may observe the minimum disclosure requirements currently applicable to those not covered by the PFRS S1 and S2.\nThey were told to update their internal processes, data systems, and disclosures before implementation starts.\nMeanwhile, additional implementation phases will be set for other financial institutions such as nonlisted thrift, rural, cooperative, digital, and Islamic banks.\nHowever, they will be required to include related information in their annual reports, such as their overall sustainability strategic objectives and risk appetite; overview of their environmental and social (E&S) risk management system and its interactions with credit, operational, and/or liquidity risk management; their products or services aligned with sustainable finance frameworks; and the breakdown of their E&S risk exposures by industry, sector, or location. \nThe BSP\u2019s proposed issuance comes as the Securities and Exchange Commission (SEC) released a memorandum circular last year that sets similar rules for publicly listed companies and large nonlisted entities.\nIt said that banks already covered by this measure may submit the same sustainability report to both the BSP and the SEC, which may be filed together with their annual report. \u2014 Katherine K. Chan", "date_published": "2026-05-21T00:05:57+08:00", "date_modified": "2026-05-20T18:39:15+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/11/researchers-looking-alternative-energy-souces.jpg", "tags": [ "Katherine K. Chan", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=750965", "url": "/banking-finance/2026/05/21/750965/term-deposit-yield-climbs-further-despite-strong-demand-for-offering/", "title": "Term deposit yield climbs further despite strong demand for offering", "content_html": "THE BANGKO SENTRAL ng Pilipinas\u2019 (BSP) term deposits fetched a slightly higher average yield on Wednesday, marking the fifth straight week of increase despite investor demand holding strong.
\nBids for the term deposit facility (TDF) amounted to P138.544 billion, exceeding the P90 billion in seven-day papers placed on the auction block but below the P146.465 billion in tenders recorded for the same volume auctioned off last week.
\nThis was equivalent to a bid-to-cover ratio of 1.5394 times, lower than the 1.6274 ratio in the previous auction.
\nStill, the central bank made a full award of its offer.
\nAccepted yields for the one-week papers were from 4% to 4.482%, a tad narrower versus the 4% to 4.4888% margin logged a week ago. With this, the average accepted rate climbed by 0.5 basis point week on week to 4.4432% from 4.4382%.
\nThe central bank uses the TDF and BSP bills to mop up excess liquidity in the financial system and better guide market yields towards its policy rate.
\nThe BSP last auctioned off both the seven-day and 14-day deposits on Oct. 29. Meanwhile, it has not offered 28-day term deposits for over five years to give way to its weekly offerings of securities with the same tenor.
\nIn its latest Monetary Policy Report, the central bank said it limited its TDF offerings to a single tenor to rationalize liquidity operations and focus on tenors that would boost monetary policy transmission.
\nAs of mid-February, the BSP\u2019s market operations have absorbed P1.2 trillion in excess liquidity from the market, with 9% of this being siphoned off via the TDF. \u2014 Katherine K. Chan
\n", "content_text": "THE BANGKO SENTRAL ng Pilipinas\u2019 (BSP) term deposits fetched a slightly higher average yield on Wednesday, marking the fifth straight week of increase despite investor demand holding strong. \nBids for the term deposit facility (TDF) amounted to P138.544 billion, exceeding the P90 billion in seven-day papers placed on the auction block but below the P146.465 billion in tenders recorded for the same volume auctioned off last week. \nThis was equivalent to a bid-to-cover ratio of 1.5394 times, lower than the 1.6274 ratio in the previous auction.\nStill, the central bank made a full award of its offer.\nAccepted yields for the one-week papers were from 4% to 4.482%, a tad narrower versus the 4% to 4.4888% margin logged a week ago. With this, the average accepted rate climbed by 0.5 basis point week on week to 4.4432% from 4.4382%. \nThe central bank uses the TDF and BSP bills to mop up excess liquidity in the financial system and better guide market yields towards its policy rate.\nThe BSP last auctioned off both the seven-day and 14-day deposits on Oct. 29. Meanwhile, it has not offered 28-day term deposits for over five years to give way to its weekly offerings of securities with the same tenor.\nIn its latest Monetary Policy Report, the central bank said it limited its TDF offerings to a single tenor to rationalize liquidity operations and focus on tenors that would boost monetary policy transmission.\nAs of mid-February, the BSP\u2019s market operations have absorbed P1.2 trillion in excess liquidity from the market, with 9% of this being siphoned off via the TDF. \u2014 Katherine K. Chan", "date_published": "2026-05-21T00:04:57+08:00", "date_modified": "2026-05-20T18:38:53+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/09/BSP_LOGO.jpg", "tags": [ "Katherine K. Chan", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=750964", "url": "/banking-finance/2026/05/21/750964/peso-edges-up-as-mideast-caution-lingers/", "title": "Peso edges up as Mideast caution lingers", "content_html": "THE PESO inched higher versus the dollar on Wednesday after moving in a tight range as the market stayed on edge while waiting for developments in the Middle East.
\nThe currency closed at P61.74 a dollar, gaining a centavo from Tuesday\u2019s record-low finish of P61.75, according to Bankers Association of the Philippines data posted on its website.
\nThe local unit opened Wednesday\u2019s session stronger at P61.73 per dollar. It traded within a narrow range as its intraday best was at just P61.67 against the greenback, while its weakest showing was at P61.75.
\nDollars traded rose to $1.54 billion from $1.21 billion in the previous session.
\nThe peso rose a tad as the market was on wait-and-see mode about developments in the Middle East, a trader said by phone.
\n\u2018Market players traded generally cautiously awaiting FOMC (Federal Open Market Committee) meeting minutes that will be released overnight,\u201d the trader added.
\nThe peso was broadly steady following the downward correction in global crude oil prices, Rizal Commercial Banking Corp, Chief Economist Michael L. Ricafort said in a Viber message.
\nHe added that the central bank may have intervened during the session again to support the currency.
\nFor Thursday, the trader said the peso may stay rangebound between P61.50 and P61.75 amid a lack of leads, while Mr. Ricafort sees it ranging from P61.55 to P61.75.
\nThe US dollar hit a six-week high on Wednesday as investors came to terms with the possible need for higher interest rates to tackle inflation resulting from the Iran war, Reuters reported.
\nThe uncertainty over when the conflict may end has fanned inflation fears and triggered a global bond sell-off, with the yield on the US 30-year Treasury bond hitting its highest level since 2007.
\nPresident Donald J. Trump said the United States may need to strike Iran again but suggested Tehran wants a deal to end the war that has all but closed the key Strait of Hormuz, sending energy prices soaring and roiling markets.
\nThe dollar index, which tracks the currency against six peers, rose 0.1% to its highest since April 7 at 99.47. The index is up more than 1.3% in May due to safe-haven demand and markets pricing in chances of the Federal Reserve hiking interest rates by the end of the year.
\nBrent crude futures were down 1.1% to $110 per barrel, but remained more than 50% higher than in late February before the war began. \u2014 Aaron Michael C. Sy with Reuters
\n", "content_text": "THE PESO inched higher versus the dollar on Wednesday after moving in a tight range as the market stayed on edge while waiting for developments in the Middle East.\nThe currency closed at P61.74 a dollar, gaining a centavo from Tuesday\u2019s record-low finish of P61.75, according to Bankers Association of the Philippines data posted on its website.\nThe local unit opened Wednesday\u2019s session stronger at P61.73 per dollar. It traded within a narrow range as its intraday best was at just P61.67 against the greenback, while its weakest showing was at P61.75.\nDollars traded rose to $1.54 billion from $1.21 billion in the previous session.\nThe peso rose a tad as the market was on wait-and-see mode about developments in the Middle East, a trader said by phone.\n\u2018Market players traded generally cautiously awaiting FOMC (Federal Open Market Committee) meeting minutes that will be released overnight,\u201d the trader added.\nThe peso was broadly steady following the downward correction in global crude oil prices, Rizal Commercial Banking Corp, Chief Economist Michael L. Ricafort said in a Viber message.\nHe added that the central bank may have intervened during the session again to support the currency.\nFor Thursday, the trader said the peso may stay rangebound between P61.50 and P61.75 amid a lack of leads, while Mr. Ricafort sees it ranging from P61.55 to P61.75.\nThe US dollar hit a six-week high on Wednesday as investors came to terms with the possible need for higher interest rates to tackle inflation resulting from the Iran war, Reuters reported.\nThe uncertainty over when the conflict may end has fanned inflation fears and triggered a global bond sell-off, with the yield on the US 30-year Treasury bond hitting its highest level since 2007.\nPresident Donald J. Trump said the United States may need to strike Iran again but suggested Tehran wants a deal to end the war that has all but closed the key Strait of Hormuz, sending energy prices soaring and roiling markets.\nThe dollar index, which tracks the currency against six peers, rose 0.1% to its highest since April 7 at 99.47. The index is up more than 1.3% in May due to safe-haven demand and markets pricing in chances of the Federal Reserve hiking interest rates by the end of the year.\nBrent crude futures were down 1.1% to $110 per barrel, but remained more than 50% higher than in late February before the war began. \u2014 Aaron Michael C. Sy with Reuters", "date_published": "2026-05-21T00:03:56+08:00", "date_modified": "2026-05-20T18:38:32+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/03/peso-dollar-currency-philstar.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks", "One News", "大象传媒" ] }, { "id": "/?p=750961", "url": "/banking-finance/2026/05/21/750961/china-bank-savings-q1-profit-up-11-5/", "title": "China Bank Savings\u2019 Q1 profit up 11.5%", "content_html": "CHINA BANK Savings, Inc. (CBS), the thrift banking arm of listed China Banking Corp. (Chinabank), saw its net profit rise by 11.5% year on year to P631.2 million in the first quarter, supported by the sustained growth of its core businesses.
\nNet interest income climbed by 20.4% to P2.8 billion backed by steady lending growth, it said in a statement on Wednesday.
\nNet loans stood at P155.5 billion, expanding by 11.5% year on year, driven mainly by the bank\u2019s salary loan and business loan segments.
\nOn the funding side, total deposits were at P191.4 billion, up by 12% from the previous year.
\nCBS booked total assets of P217.3 billion at end-March, backed by its growing customer base.
\nAsset quality remained stable as the bank posted a nonperforming loan (NPL) ratio of 2.9%. \u201cThe bank\u2019s NPLs continue to be adequately covered by loan-loss allowances, reflecting CBS\u2019 conservative provisioning stance,\u201d it said.
\n\u201cThese are interesting times, but a young bank like CBS, can be more agile and can adapt to the changing environment faster. Already, CBS is establishing itself in the thrift banking space as a significant player. Thanks to its mix of affordable and readily available loan products, and its competent and driven workforce which is in tune with the needs of the bank\u2019s target market,\u201d CBS Chairman Ricardo R. Chua said.
\nFor the rest of the year, the bank said it will continue to expand its higher-yielding loan segments and its low-cost deposit base, deepen customer relationships, and maintain its operational efficiency through sustained investments in both physical and digital capabilities.
\n\u201cCBS prides itself in maintaining strong relationships with its customers, and they have rewarded the bank with loyalty. There is no substitute for trust and dependability, and the bank provides that in spades whatever the circumstance,\u201d CBS President James Christian T. Dee said.
\nThe bank ended the first quarter with 175 branches, 34 automatic payroll deduction (APD) lending centers, 73 APD branch-lite units, and more than 3,000 employees.
\nIn April, it converted 10 branch-lite units into full-service branches. It added that it is set to open an additional five branches before the end of the second quarter, which would bring its network to 190 branches.
\n\u201cWe at CBS are eager to provide our \u2018Easy Banking\u2019 services nationwide, and that is why we continue to expand our branch network despite accelerating inflation. We are confident in the resilience of the Philippine economy, and we recognize the ingenuity and resourcefulness of the Filipino entrepreneur will require financial support from the banking sector to ensure sustainability as well as prosperity for their endeavors,\u201d CBS Senior Vice-President and Retail Banking Group Head Jan Nikolai M. Lim said.
\nIts listed parent\u00a0 Chinabank saw its net profit increase by 4% to P6.8 billion in the first quarter, backed by strong growth in its core businesses and stable asset quality. \u2014 A.M.C. Sy
\n", "content_text": "CHINA BANK Savings, Inc. (CBS), the thrift banking arm of listed China Banking Corp. (Chinabank), saw its net profit rise by 11.5% year on year to P631.2 million in the first quarter, supported by the sustained growth of its core businesses.\nNet interest income climbed by 20.4% to P2.8 billion backed by steady lending growth, it said in a statement on Wednesday.\nNet loans stood at P155.5 billion, expanding by 11.5% year on year, driven mainly by the bank\u2019s salary loan and business loan segments.\nOn the funding side, total deposits were at P191.4 billion, up by 12% from the previous year.\nCBS booked total assets of P217.3 billion at end-March, backed by its growing customer base.\nAsset quality remained stable as the bank posted a nonperforming loan (NPL) ratio of 2.9%. \u201cThe bank\u2019s NPLs continue to be adequately covered by loan-loss allowances, reflecting CBS\u2019 conservative provisioning stance,\u201d it said.\n\u201cThese are interesting times, but a young bank like CBS, can be more agile and can adapt to the changing environment faster. Already, CBS is establishing itself in the thrift banking space as a significant player. Thanks to its mix of affordable and readily available loan products, and its competent and driven workforce which is in tune with the needs of the bank\u2019s target market,\u201d CBS Chairman Ricardo R. Chua said.\nFor the rest of the year, the bank said it will continue to expand its higher-yielding loan segments and its low-cost deposit base, deepen customer relationships, and maintain its operational efficiency through sustained investments in both physical and digital capabilities.\n\u201cCBS prides itself in maintaining strong relationships with its customers, and they have rewarded the bank with loyalty. There is no substitute for trust and dependability, and the bank provides that in spades whatever the circumstance,\u201d CBS President James Christian T. Dee said.\nThe bank ended the first quarter with 175 branches, 34 automatic payroll deduction (APD) lending centers, 73 APD branch-lite units, and more than 3,000 employees.\nIn April, it converted 10 branch-lite units into full-service branches. It added that it is set to open an additional five branches before the end of the second quarter, which would bring its network to 190 branches.\n\u201cWe at CBS are eager to provide our \u2018Easy Banking\u2019 services nationwide, and that is why we continue to expand our branch network despite accelerating inflation. We are confident in the resilience of the Philippine economy, and we recognize the ingenuity and resourcefulness of the Filipino entrepreneur will require financial support from the banking sector to ensure sustainability as well as prosperity for their endeavors,\u201d CBS Senior Vice-President and Retail Banking Group Head Jan Nikolai M. Lim said.\nIts listed parent\u00a0 Chinabank saw its net profit increase by 4% to P6.8 billion in the first quarter, backed by strong growth in its core businesses and stable asset quality. \u2014 A.M.C. Sy", "date_published": "2026-05-21T00:02:04+08:00", "date_modified": "2026-05-20T18:38:03+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/10/CBS-China-Bank-Savings.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "id": "/?p=750963", "url": "/banking-finance/2026/05/21/750963/asialink-group-sets-leadership-changes/", "title": "Asialink Group sets leadership changes", "content_html": "THE ASIALINK Group of Companies announced leadership changes for its two flagship entities, Asialink Finance Corp. (AFC) and Global Dominion Financing, Inc. (GDFI).
\nThe transition is part of the efforts to strengthen alignment across the Asialink Group to \u201cenhance operational synergies, and ensure that its organizational structure remains responsive to increasing scale and complexity, positioning the Group to more effectively capture emerging opportunities in the evolving financial services landscape…,\u201d it said in a statement on Wednesday.
\nThe group has appointed former GDFI President and Chief Executive Officer (CEO) Patricia P. Palacios as new Asialink Group Deputy CEO.
\n\u201cIn this capacity, she will play a critical role in strengthening cross-functional collaboration, identifying growth opportunities, and advancing innovation initiatives that will further reinforce the group\u2019s leadership in the financial services industry,\u201d it said.
\nShe will work with Asialink Group CEO Robert B. Jordan, Jr. and fellow Group Deputy CEO Eillen B. Mangubat.
\nMeanwhile, GDFI will now be led by its new President and CEO Samuel Z. Cari\u00f1o, who held the same posts at AFC. Mr. Cari\u00f1o was previously GDFI\u2019s deputy chief operating officer for sales.
\n\u201cThe Board of Directors expresses full confidence in Mr. Cari\u00f1o\u2019s leadership, citing his extensive expertise in people development, data analysis, and sales and marketing across various nonbanking sectors,\u201d it said. \u201cWith his proven track record, he is well-positioned to lead the company into its next phase of growth, strengthen operational capabilities, and drive innovation in an increasingly competitive financial services environment.\u201d
\nTaking over his post at AFC is Ana Katrina C. Ba\u00f1ez, the company\u2019s general manager for its Commercial and Consumer Loans (CCL) division in Visayas and Mindanao. Daisy D. Suba, general manager for the CCL Luzon division, will serve as Deputy CEO.
\n\u201cThese leadership transitions mark an important step in strengthening the Asialink Group as we continue to position the organization for sustained growth and long-term success. With a strong and capable leadership team in place, we are confident in our ability to drive innovation, enhance operational excellence, and further expand our impact in the financial services industry,\u201d Mr. Jordan said. \u2014 AMCS
\n", "content_text": "THE ASIALINK Group of Companies announced leadership changes for its two flagship entities, Asialink Finance Corp. (AFC) and Global Dominion Financing, Inc. (GDFI).\nThe transition is part of the efforts to strengthen alignment across the Asialink Group to \u201cenhance operational synergies, and ensure that its organizational structure remains responsive to increasing scale and complexity, positioning the Group to more effectively capture emerging opportunities in the evolving financial services landscape…,\u201d it said in a statement on Wednesday.\nThe group has appointed former GDFI President and Chief Executive Officer (CEO) Patricia P. Palacios as new Asialink Group Deputy CEO.\n\u201cIn this capacity, she will play a critical role in strengthening cross-functional collaboration, identifying growth opportunities, and advancing innovation initiatives that will further reinforce the group\u2019s leadership in the financial services industry,\u201d it said.\nShe will work with Asialink Group CEO Robert B. Jordan, Jr. and fellow Group Deputy CEO Eillen B. Mangubat.\nMeanwhile, GDFI will now be led by its new President and CEO Samuel Z. Cari\u00f1o, who held the same posts at AFC. Mr. Cari\u00f1o was previously GDFI\u2019s deputy chief operating officer for sales.\n\u201cThe Board of Directors expresses full confidence in Mr. Cari\u00f1o\u2019s leadership, citing his extensive expertise in people development, data analysis, and sales and marketing across various nonbanking sectors,\u201d it said. \u201cWith his proven track record, he is well-positioned to lead the company into its next phase of growth, strengthen operational capabilities, and drive innovation in an increasingly competitive financial services environment.\u201d\nTaking over his post at AFC is Ana Katrina C. Ba\u00f1ez, the company\u2019s general manager for its Commercial and Consumer Loans (CCL) division in Visayas and Mindanao. Daisy D. Suba, general manager for the CCL Luzon division, will serve as Deputy CEO.\n\u201cThese leadership transitions mark an important step in strengthening the Asialink Group as we continue to position the organization for sustained growth and long-term success. With a strong and capable leadership team in place, we are confident in our ability to drive innovation, enhance operational excellence, and further expand our impact in the financial services industry,\u201d Mr. Jordan said. \u2014 AMCS", "date_published": "2026-05-21T00:01:55+08:00", "date_modified": "2026-05-20T18:37:43+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/03/AsiaLink.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "id": "/?p=750731", "url": "/banking-finance/2026/05/20/750731/govt-rejects-all-bids-for-t-bonds-2/", "title": "Gov\u2019t rejects all bids for T-bonds", "content_html": "THE GOVERNMENT rejected all bids for the Treasury bonds (T-bonds) it offered on Tuesday as players asked for higher yields as global markets continued to reel due to mounting inflation concerns amid the prolonged Middle East conflict.
\nThe Bureau of the Treasury (BTr) rejected all bids for the reissued 10-year bonds it auctioned off, even as total demand reached P33.675 billion, above the P30-billion on offer.
\nWith this, the total outstanding volume for the series remained at P199.5 billion, the Treasury said in a statement after the auction.
\nHad the government made a full P30-billion award of the reissued bonds, which have a remaining life of seven years and three months, the average rate would have been at 7.915%. This was 127.2 basis points (bps) higher than the 6.643% fetched for the series\u2019 last award on April 21 and 128.9 bps above the 6.625% coupon for the issue.
\nIt was 30.3 bps higher than the 7.612% fetched for the same bond series and 31.1 bps above the 7.604% quoted for the seven-year paper \u2014 the benchmark tenor closest to the remaining life of the issue \u2014 at the secondary market before Tuesday\u2019s auction, based on the PHP Bloomberg Valuation Service Reference Rates data provided by the BTr.
\nThe government chose to turn down all tenders as bid yields surged well above comparable secondary market rates, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
\n\u201cInvestors have been waiting for the peak in bond yields before taking investment positions to maximize the yield to be locked in amid higher inflation and inflation expectations recently as the Strait of Hormuz remains closed,\u201d he said.
\nHigher global oil prices due to the prolonged war have also pushed up bond yields worldwide, Mr. Ricafort said.
\n\u201cThe BTr fully rejected all the bids for the [reissued bonds] as the bids were too high, even on the low end,\u201d the first trader said in a text message. \u201cThe BTr finally drew the line as the bids earlier were deemed too high. Subdued market activity and steady upward yield movement led to this.\u201d
\n\u201cThat rejection is long overdue as it is one of the reasons why bond yields have been increasing. Investors think that the BTr has been aggressive in awarding bids in the past couple of auctions,\u201d the second trader added.
\nOn Tuesday, bonds steadied following a steep sell-off after US President Donald J. Trump paused a planned attack on Iran and claimed there was a good chance of a nuclear deal, sending oil prices lower, Reuters reported.
\nMr. Trump said on Monday he had paused an attack against Iran to allow time for negotiations to take place on a deal to end the war, after Tehran sent a new peace proposal to Washington.
\nHe subsequently said there was a \u201cvery good chance\u201d the US could reach an agreement with Iran to prevent Tehran from obtaining a nuclear weapon.
\nInvestors remained cautious after being rattled in the previous session by a weekend drone strike in the United Arab Emirates.
\nBrent crude futures fell nearly 2% to $109.94 a barrel on the back of Mr. Trump\u2019s comments, while US crude was down 1.54% to $106.99 per barrel, though both remained more than 50% above their prewar levels.
\nThe fall in oil prices helped stem a steep sell-off in global bonds on Tuesday, although worries remain about any lasting inflationary shock from the Iran war.
\nYields on the benchmark 10-year US Treasury note eased from a more than one-year high to 4.6034% in Asian trade, and the two-year yield was down slightly to 4.0674%.
\nOvernight, G7 finance ministers acknowledged mounting concerns over public debt and bond market volatility as they met in Paris.
\nMarkets are now pricing in rate hikes from major central banks this year on expectations policymakers will have to tighten policy to combat a resurgence in inflation driven by higher-for-longer energy prices.
\nPhilippine headline inflation surged to 7.2% in April from the 4.1% in March and 1.4% a year ago as the global oil shock pushed up prices of food and utilities. This was the fastest print in over three years or since the 7.6% recorded in March 2023.
\nApril also marked the second straight month that the consumer price index was above the Bangko Sentral ng Pilipinas\u2019 (BSP) 2%-4% tolerance band.
\nFor the first four months, inflation averaged 3.9%.
\nThe Monetary Board on April 23 delivered its first hike in over two years, raising the policy rate by 25 bps to 4.5% in a preemptive move to temper the spillover effects of rising oil prices and ensure inflation expectations remain anchored.
\nBSP Governor Eli M. Remolona, Jr. has also left the door open to further tightening via a succession of modest hikes to help combat surging prices.
\nThe BTr wants to raise P268 billion from the domestic market this month, or P128 billion via Treasury bills and P140 billion through T-bonds.
\nThe government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.61 trillion or 5.3% of gross domestic product this year. \u2014 A.M.C. Sy with Reuters
\n", "content_text": "THE GOVERNMENT rejected all bids for the Treasury bonds (T-bonds) it offered on Tuesday as players asked for higher yields as global markets continued to reel due to mounting inflation concerns amid the prolonged Middle East conflict.\nThe Bureau of the Treasury (BTr) rejected all bids for the reissued 10-year bonds it auctioned off, even as total demand reached P33.675 billion, above the P30-billion on offer.\nWith this, the total outstanding volume for the series remained at P199.5 billion, the Treasury said in a statement after the auction.\nHad the government made a full P30-billion award of the reissued bonds, which have a remaining life of seven years and three months, the average rate would have been at 7.915%. This was 127.2 basis points (bps) higher than the 6.643% fetched for the series\u2019 last award on April 21 and 128.9 bps above the 6.625% coupon for the issue.\nIt was 30.3 bps higher than the 7.612% fetched for the same bond series and 31.1 bps above the 7.604% quoted for the seven-year paper \u2014 the benchmark tenor closest to the remaining life of the issue \u2014 at the secondary market before Tuesday\u2019s auction, based on the PHP Bloomberg Valuation Service Reference Rates data provided by the BTr.\nThe government chose to turn down all tenders as bid yields surged well above comparable secondary market rates, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.\n\u201cInvestors have been waiting for the peak in bond yields before taking investment positions to maximize the yield to be locked in amid higher inflation and inflation expectations recently as the Strait of Hormuz remains closed,\u201d he said.\nHigher global oil prices due to the prolonged war have also pushed up bond yields worldwide, Mr. Ricafort said.\n\u201cThe BTr fully rejected all the bids for the [reissued bonds] as the bids were too high, even on the low end,\u201d the first trader said in a text message. \u201cThe BTr finally drew the line as the bids earlier were deemed too high. Subdued market activity and steady upward yield movement led to this.\u201d\n\u201cThat rejection is long overdue as it is one of the reasons why bond yields have been increasing. Investors think that the BTr has been aggressive in awarding bids in the past couple of auctions,\u201d the second trader added.\nOn Tuesday, bonds steadied following a steep sell-off after US President Donald J. Trump paused a planned attack on Iran and claimed there was a good chance of a nuclear deal, sending oil prices lower, Reuters reported.\nMr. Trump said on Monday he had paused an attack against Iran to allow time for negotiations to take place on a deal to end the war, after Tehran sent a new peace proposal to Washington.\nHe subsequently said there was a \u201cvery good chance\u201d the US could reach an agreement with Iran to prevent Tehran from obtaining a nuclear weapon.\nInvestors remained cautious after being rattled in the previous session by a weekend drone strike in the United Arab Emirates.\nBrent crude futures fell nearly 2% to $109.94 a barrel on the back of Mr. Trump\u2019s comments, while US crude was down 1.54% to $106.99 per barrel, though both remained more than 50% above their prewar levels.\nThe fall in oil prices helped stem a steep sell-off in global bonds on Tuesday, although worries remain about any lasting inflationary shock from the Iran war.\nYields on the benchmark 10-year US Treasury note eased from a more than one-year high to 4.6034% in Asian trade, and the two-year yield was down slightly to 4.0674%.\nOvernight, G7 finance ministers acknowledged mounting concerns over public debt and bond market volatility as they met in Paris.\nMarkets are now pricing in rate hikes from major central banks this year on expectations policymakers will have to tighten policy to combat a resurgence in inflation driven by higher-for-longer energy prices.\nPhilippine headline inflation surged to 7.2% in April from the 4.1% in March and 1.4% a year ago as the global oil shock pushed up prices of food and utilities. This was the fastest print in over three years or since the 7.6% recorded in March 2023.\nApril also marked the second straight month that the consumer price index was above the Bangko Sentral ng Pilipinas\u2019 (BSP) 2%-4% tolerance band.\nFor the first four months, inflation averaged 3.9%.\nThe Monetary Board on April 23 delivered its first hike in over two years, raising the policy rate by 25 bps to 4.5% in a preemptive move to temper the spillover effects of rising oil prices and ensure inflation expectations remain anchored.\nBSP Governor Eli M. Remolona, Jr. has also left the door open to further tightening via a succession of modest hikes to help combat surging prices.\nThe BTr wants to raise P268 billion from the domestic market this month, or P128 billion via Treasury bills and P140 billion through T-bonds.\nThe government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.61 trillion or 5.3% of gross domestic product this year. \u2014 A.M.C. Sy with Reuters", "date_published": "2026-05-20T00:05:44+08:00", "date_modified": "2026-05-19T19:15:30+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/12/BTr-Treasury.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=750730", "url": "/banking-finance/2026/05/20/750730/bsp-gives-grace-period-to-rural-co-op-banks-for-credit-exposure-reporting/", "title": "BSP gives grace period to rural, co-op banks for credit exposure reporting", "content_html": "THE BANGKO SENTRAL ng Pilipinas (BSP) has given rural and cooperative (co-op) banks in the country an extended window to submit the required enhanced reports on their credit and equity exposures without penalties.
\nIn a memorandum signed by BSP Deputy Governor Lyn I. Javier, the BSP said rural and cooperative banks will not be penalized for reporting violations for their third-quarter 2025 submissions under the Enhanced Comprehensive Credit and Equity Exposures Report of 2023 (COCREE 2.0).
\n\u201cAll rural banks and cooperative banks (RCBs) shall be eligible to a grace period from penalties for reporting violations covering the live maiden reporting period (for Sept. 30, 2025) of COCREE 2.0,\u201d the central bank said.
\nBanks that complied early with the maiden reporting period will be given even longer grace periods to submit upcoming reports this year.
\nRCBs that submitted their exposures reports on or before the live maiden reporting due date on Nov. 28 last year will be provided additional grace period covering the reporting periods ending Dec. 31, 2025, as well as March 31 and June 30 this year, the BSP said.
\nThose that complied after the due date but before the pilot testing in the BSP\u2019s Reporting Management System (BRMS)-COCREE 2.0 Sandbox ended on Jan. 30 are allowed a grace period for the Dec. 31, 2025 reporting period.
\nHowever, the central bank clarified that all no-penalty windows are only valid for RCBs that \u201cremain actively engaged\u201d in submitting their reports through the BRMS Live Module.
\nAccording to the memorandum, RCBs have until May 26 to submit their quarterly report for the period ending Dec. 31, 2025 and until June 30 for reports covering the March 31 period.
\nMeanwhile, for reporting periods ending June 30 and onwards, banks must comply with the COCREE 2.0 live implementation within 25 business days after each reference period.
\nThe BSP fully implemented the COCREE 2.0 in June last year to monitor the credit and equity exposures of universal and commercial banks, thrift banks, rural banks, cooperative banks, digital banks, nonbank financial institutions with quasi-banking functions, and trust corporations.
\nThe COCREE is a collection of credit and equity exposures that forms part of the central bank\u2019s surveillance of emerging risks in supervised entities and the financial system.
\nThe report compiles a monthly average of 31.7 million records. This is composed of granular borrower demographics (11.3 million records) and credit and equity exposure details (20.4 million records), which account for about 95% of the outstanding loan portfolio of the banking system.
\nThe enhanced reporting system is designed to capture granular information on borrowers and counterparties by addressing critical data gaps, and also allows the BSP to conduct an in-depth analysis of borrower performance and behavior, including the portfolio of retail consumers and micro and small borrowers. \u2014 Katherine K. Chan
\n", "content_text": "THE BANGKO SENTRAL ng Pilipinas (BSP) has given rural and cooperative (co-op) banks in the country an extended window to submit the required enhanced reports on their credit and equity exposures without penalties.\nIn a memorandum signed by BSP Deputy Governor Lyn I. Javier, the BSP said rural and cooperative banks will not be penalized for reporting violations for their third-quarter 2025 submissions under the Enhanced Comprehensive Credit and Equity Exposures Report of 2023 (COCREE 2.0).\n\u201cAll rural banks and cooperative banks (RCBs) shall be eligible to a grace period from penalties for reporting violations covering the live maiden reporting period (for Sept. 30, 2025) of COCREE 2.0,\u201d the central bank said.\nBanks that complied early with the maiden reporting period will be given even longer grace periods to submit upcoming reports this year.\nRCBs that submitted their exposures reports on or before the live maiden reporting due date on Nov. 28 last year will be provided additional grace period covering the reporting periods ending Dec. 31, 2025, as well as March 31 and June 30 this year, the BSP said.\nThose that complied after the due date but before the pilot testing in the BSP\u2019s Reporting Management System (BRMS)-COCREE 2.0 Sandbox ended on Jan. 30 are allowed a grace period for the Dec. 31, 2025 reporting period.\nHowever, the central bank clarified that all no-penalty windows are only valid for RCBs that \u201cremain actively engaged\u201d in submitting their reports through the BRMS Live Module.\nAccording to the memorandum, RCBs have until May 26 to submit their quarterly report for the period ending Dec. 31, 2025 and until June 30 for reports covering the March 31 period. \nMeanwhile, for reporting periods ending June 30 and onwards, banks must comply with the COCREE 2.0 live implementation within 25 business days after each reference period.\nThe BSP fully implemented the COCREE 2.0 in June last year to monitor the credit and equity exposures of universal and commercial banks, thrift banks, rural banks, cooperative banks, digital banks, nonbank financial institutions with quasi-banking functions, and trust corporations.\nThe COCREE is a collection of credit and equity exposures that forms part of the central bank\u2019s surveillance of emerging risks in supervised entities and the financial system.\nThe report compiles a monthly average of 31.7 million records. This is composed of granular borrower demographics (11.3 million records) and credit and equity exposure details (20.4 million records), which account for about 95% of the outstanding loan portfolio of the banking system.\nThe enhanced reporting system is designed to capture granular information on borrowers and counterparties by addressing critical data gaps, and also allows the BSP to conduct an in-depth analysis of borrower performance and behavior, including the portfolio of retail consumers and micro and small borrowers. \u2014 Katherine K. Chan", "date_published": "2026-05-20T00:04:43+08:00", "date_modified": "2026-05-19T19:13:28+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/11/BSP-building-logo.jpg", "tags": [ "Katherine K. Chan", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=750729", "url": "/banking-finance/2026/05/20/750729/peso-stays-at-record-low-as-war-keeps-market-guarded/", "title": "Peso stays at record low as war keeps market guarded\u00a0", "content_html": "THE PESO closed flat at its all-time low against the dollar on Tuesday as uncertainty over the Middle East war kept the market cautious.
\nThe currency ended at its record low of P61.75, unchanged from Monday\u2019s finish, according to Bankers Association of the Philippines data posted on its website.
\nThe local unit opened Tuesday\u2019s session stronger at P61.60 per dollar. Its intraday best was at P61.55 against the greenback, while its low was its closing value of P61.75.
\nDollars traded rose to $1.21 billion from $1.001 billion in the previous session.
\nThe peso was steady as it was supported by possible intervention from the Bangko Sentral ng Pilipinas (BSP), Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
\nThe BSP has said that it intervenes in the foreign exchange market to prevent sharp swings but does not have a target level for the currency.
\n\u201cThe peso closed unchanged amid lingering uncertainty over a potential US-Iran deal,\u201d a trader said in a Viber message.
\nFor Wednesday, the trader said the peso could recover against the greenback on potential profit taking.
\nThe trader sees the local unit moving between 61.50 and 61.75 per dollar on Wednesday, while Mr. Ricafort expects it to range from P61.60 to P61.80. \u2014 A.M.C. Sy
\n", "content_text": "THE PESO closed flat at its all-time low against the dollar on Tuesday as uncertainty over the Middle East war kept the market cautious.\nThe currency ended at its record low of P61.75, unchanged from Monday\u2019s finish, according to Bankers Association of the Philippines data posted on its website.\nThe local unit opened Tuesday\u2019s session stronger at P61.60 per dollar. Its intraday best was at P61.55 against the greenback, while its low was its closing value of P61.75.\nDollars traded rose to $1.21 billion from $1.001 billion in the previous session.\nThe peso was steady as it was supported by possible intervention from the Bangko Sentral ng Pilipinas (BSP), Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.\nThe BSP has said that it intervenes in the foreign exchange market to prevent sharp swings but does not have a target level for the currency.\n\u201cThe peso closed unchanged amid lingering uncertainty over a potential US-Iran deal,\u201d a trader said in a Viber message.\nFor Wednesday, the trader said the peso could recover against the greenback on potential profit taking.\nThe trader sees the local unit moving between 61.50 and 61.75 per dollar on Wednesday, while Mr. Ricafort expects it to range from P61.60 to P61.80. \u2014 A.M.C. Sy", "date_published": "2026-05-20T00:03:42+08:00", "date_modified": "2026-05-19T19:13:12+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/peso-currency-philstar.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks", "One News", "大象传媒" ] }, { "id": "/?p=750727", "url": "/banking-finance/2026/05/20/750727/eastwest-bank-launches-voluntary-pera-contribution-program-for-employees/", "title": "EastWest Bank launches voluntary PERA contribution program for employees", "content_html": "EAST WEST Banking Corp. (EastWest Bank) has rolled out its voluntary Personal Equity and Retirement Account (PERA) contribution program in partnership with DragonFi Securities, Inc.
\nUnder the program, eligible EastWest Bank employees can save and invest in accredited PERA products by giving the lender authority to make contributions on their behalf, together with their own personal contributions.
\nParticipation is voluntary, and the bank is only facilitating awareness and onboarding support.
\nDragonFi Securities, as a PERA Administrator, will provide guided account setup, investment options, digital tools, and educational resources.
\nEmployees may also choose other accredited PERA Administrators as the program is nonexclusive, EastWest Bank added.
\n\u201cFinancial empowerment is not only about access to products. It is also about building the knowledge and confidence to plan ahead,\u201d EastWest Bank Chief Executive Officer Jerry G. Ngo said in a press release. \u201cBy facilitating access to PERA, EastWest is helping employees take a more active role in shaping their long-term financial future.\u201d
\nThe bank added that this forms part of its efforts to promote financial literacy, employee well-being, and long-term financial resilience.
\n\u201cThis is also in support of the Bangko Sentral ng Pilipinas\u2019 (BSP) direction to encourage businesses nationwide to adopt company-sponsored Personal Equity and Retirement Account programs, leveraging enhanced tax incentives under the Capital Markets Efficiency Promotion Act (CMEPA) to invest in their employees while contributing to national economic growth.\u201d
\nPERA, created under Republic Act No. 9505, is a voluntary retirement saving program meant to supplement retirement benefits from the Government Service Insurance System or Social Security System, as well as private employers.
\nA private employer may, as part of its compensation package for employees, opt to contribute to the PERA of its employees. This may be reflected in the employer\u2019s income tax return as a deductible expense from its gross income.
\nThe CMEPA also provides for a 50% additional tax deduction for private employers who contribute an amount equal to or greater than their employees\u2019 PERA contributions.
\nThe latest BSP data showed that accumulated PERA contributions reached P571.08 million at end-September 2025, rising by 21.34% year on year from P470.63 million. Bulk of these came from employee contributions (P396.54 million).
\nMeanwhile, the total number of PERA contributors also went up to 6,334 in the same period from 5,774 a year prior. \u2014 AMCS
\n", "content_text": "EAST WEST Banking Corp. (EastWest Bank) has rolled out its voluntary Personal Equity and Retirement Account (PERA) contribution program in partnership with DragonFi Securities, Inc.\nUnder the program, eligible EastWest Bank employees can save and invest in accredited PERA products by giving the lender authority to make contributions on their behalf, together with their own personal contributions.\nParticipation is voluntary, and the bank is only facilitating awareness and onboarding support.\nDragonFi Securities, as a PERA Administrator, will provide guided account setup, investment options, digital tools, and educational resources.\nEmployees may also choose other accredited PERA Administrators as the program is nonexclusive, EastWest Bank added.\n\u201cFinancial empowerment is not only about access to products. It is also about building the knowledge and confidence to plan ahead,\u201d EastWest Bank Chief Executive Officer Jerry G. Ngo said in a press release. \u201cBy facilitating access to PERA, EastWest is helping employees take a more active role in shaping their long-term financial future.\u201d\nThe bank added that this forms part of its efforts to promote financial literacy, employee well-being, and long-term financial resilience.\n\u201cThis is also in support of the Bangko Sentral ng Pilipinas\u2019 (BSP) direction to encourage businesses nationwide to adopt company-sponsored Personal Equity and Retirement Account programs, leveraging enhanced tax incentives under the Capital Markets Efficiency Promotion Act (CMEPA) to invest in their employees while contributing to national economic growth.\u201d\nPERA, created under Republic Act No. 9505, is a voluntary retirement saving program meant to supplement retirement benefits from the Government Service Insurance System or Social Security System, as well as private employers.\nA private employer may, as part of its compensation package for employees, opt to contribute to the PERA of its employees. This may be reflected in the employer\u2019s income tax return as a deductible expense from its gross income.\nThe CMEPA also provides for a 50% additional tax deduction for private employers who contribute an amount equal to or greater than their employees\u2019 PERA contributions.\nThe latest BSP data showed that accumulated PERA contributions reached P571.08 million at end-September 2025, rising by 21.34% year on year from P470.63 million. Bulk of these came from employee contributions (P396.54 million).\nMeanwhile, the total number of PERA contributors also went up to 6,334 in the same period from 5,774 a year prior. \u2014 AMCS", "date_published": "2026-05-20T00:01:41+08:00", "date_modified": "2026-05-19T19:12:20+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/05/eastwest_logo.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "id": "/?p=750445", "url": "/banking-finance/2026/05/19/750445/t-bill-yields-surge-as-war-heightens-inflation-fears/", "title": "T-bill yields surge as war heightens inflation fears", "content_html": "THE GOVERNMENT partially awarded the Treasury bills (T-bills) it offered on Monday as yields surged, with prolonged Middle East conflict continuing to push up inflation risks and raising expectations of further monetary tightening.
\nThe Bureau of the Treasury (BTr) raised only P25.41 billion via the T-bills it auctioned off, below the P30-billion plan, even as total tenders reached P40.68 billion, lower than the P44.861 billion in demand recorded on May 11.
\n\u201cResults were mixed in today\u2019s Treasury bills auction, with the Auction Committee upsizing the awarded bids for the 91-day T-bills to P13 billion, while partially awarding the 182-and 364-day securities,\u201d the Treasury said in a statement.
\nBroken down, the Treasury borrowed P13 billion via the 91-day T-bills, higher than the original P10-billion plan, as demand for the tenor reached P19.87 billion. The three-month paper fetched an average rate of 5.074%, increasing by 22.4 basis points (bps) from 4.85% last week. Bids accepted had yields ranging from 4.915 to 5.173%.
\nMeanwhile, the government raised just P8.6 billion via 182-day debt, below the P10-billion offering, even as tenders reached P15.15 billion. The average rate of the six-month T-bill was at 5.894%, surging by 62.4 bps from 5.27% previously. Tenders awarded carried rates from 5.59% to 6%.
\nFor the 364-day securities, the BTr awarded just P3.81 billion, lower than the P10 billion on offer, as the tenor drew just P5.66 billion in demand. The one-year paper fetched an average yield of 6.037%, rising by 31.8 bps from 5.719% last week. Accepted bids had rates from 5.925% to 6.1%.
\nAt the secondary market before Monday\u2019s auction, the 91-, 182-, and 364-day T-bills were quoted at 4.9111%, 5.2914%, and 5.914%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.
\n\u201cYields continue to rise as demand goes down, aligning with the past few weeks\u2019 movements. The market continues to remain cautious about the lack of progress in the Middle East conflict,\u201d a trader said in a text message.
\nThe government partially awarded its offer as T-bill yields rose for a fourth straight week due to surging inflation, which supports expectations of further tightening by the Bangko Sentral ng Pilipinas (BSP), which the central bank chief has also signaled, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
\nPrice risks continue to grow as the Strait of Hormuz remains shut amid the lack of a peace deal between the United States and Iran, he added.
\nThe Philippines imports over 90% of its oil from the Middle East, making it vulnerable to global price shocks.
\nHeadline inflation surged to 7.2% in April, up sharply from the 4.1% in March and 1.4% a year ago, as the crisis pushed up prices of food and utilities. This was the fastest print in over three years or since the 7.6% recorded in March 2023.
\nApril also marked the second straight month that the consumer price index was above the BSP\u2019s 2%-4% tolerance band.
\nFor the first four months, inflation averaged 3.9%.
\nOn April 23, the Monetary Board hiked benchmark interest rates by 25 bps for the first time in over two years, bringing the policy rate to 4.5%, as the Middle East war has caused its inflation outlook to deteriorate further.
\nBSP Governor Eli M. Remolona, Jr. has signaled further tightening ahead via \u201ca succession of modest rate hikes\u201d to help temper spiraling prices.
\nOn Tuesday, the government plans to raise P30 billion through reissued 10-year Treasury bonds (T-bonds) with a remaining life of seven years and three months.
\nThe BTr wants to raise P268 billion from the domestic market this month, or P128 billion via T-bills and P140 billion through T-bonds.
\nThe government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.61 trillion or 5.3% of gross domestic product this year. \u2014 Aaron Michael C. Sy
\n", "content_text": "THE GOVERNMENT partially awarded the Treasury bills (T-bills) it offered on Monday as yields surged, with prolonged Middle East conflict continuing to push up inflation risks and raising expectations of further monetary tightening.\nThe Bureau of the Treasury (BTr) raised only P25.41 billion via the T-bills it auctioned off, below the P30-billion plan, even as total tenders reached P40.68 billion, lower than the P44.861 billion in demand recorded on May 11.\n\u201cResults were mixed in today\u2019s Treasury bills auction, with the Auction Committee upsizing the awarded bids for the 91-day T-bills to P13 billion, while partially awarding the 182-and 364-day securities,\u201d the Treasury said in a statement.\nBroken down, the Treasury borrowed P13 billion via the 91-day T-bills, higher than the original P10-billion plan, as demand for the tenor reached P19.87 billion. The three-month paper fetched an average rate of 5.074%, increasing by 22.4 basis points (bps) from 4.85% last week. Bids accepted had yields ranging from 4.915 to 5.173%.\nMeanwhile, the government raised just P8.6 billion via 182-day debt, below the P10-billion offering, even as tenders reached P15.15 billion. The average rate of the six-month T-bill was at 5.894%, surging by 62.4 bps from 5.27% previously. Tenders awarded carried rates from 5.59% to 6%.\nFor the 364-day securities, the BTr awarded just P3.81 billion, lower than the P10 billion on offer, as the tenor drew just P5.66 billion in demand. The one-year paper fetched an average yield of 6.037%, rising by 31.8 bps from 5.719% last week. Accepted bids had rates from 5.925% to 6.1%.\nAt the secondary market before Monday\u2019s auction, the 91-, 182-, and 364-day T-bills were quoted at 4.9111%, 5.2914%, and 5.914%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.\n\u201cYields continue to rise as demand goes down, aligning with the past few weeks\u2019 movements. The market continues to remain cautious about the lack of progress in the Middle East conflict,\u201d a trader said in a text message.\nThe government partially awarded its offer as T-bill yields rose for a fourth straight week due to surging inflation, which supports expectations of further tightening by the Bangko Sentral ng Pilipinas (BSP), which the central bank chief has also signaled, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.\nPrice risks continue to grow as the Strait of Hormuz remains shut amid the lack of a peace deal between the United States and Iran, he added.\nThe Philippines imports over 90% of its oil from the Middle East, making it vulnerable to global price shocks.\nHeadline inflation surged to 7.2% in April, up sharply from the 4.1% in March and 1.4% a year ago, as the crisis pushed up prices of food and utilities. This was the fastest print in over three years or since the 7.6% recorded in March 2023.\nApril also marked the second straight month that the consumer price index was above the BSP\u2019s 2%-4% tolerance band.\nFor the first four months, inflation averaged 3.9%.\nOn April 23, the Monetary Board hiked benchmark interest rates by 25 bps for the first time in over two years, bringing the policy rate to 4.5%, as the Middle East war has caused its inflation outlook to deteriorate further.\nBSP Governor Eli M. Remolona, Jr. has signaled further tightening ahead via \u201ca succession of modest rate hikes\u201d to help temper spiraling prices.\nOn Tuesday, the government plans to raise P30 billion through reissued 10-year Treasury bonds (T-bonds) with a remaining life of seven years and three months.\nThe BTr wants to raise P268 billion from the domestic market this month, or P128 billion via T-bills and P140 billion through T-bonds.\nThe government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.61 trillion or 5.3% of gross domestic product this year. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-19T00:04:47+08:00", "date_modified": "2026-05-18T19:02:12+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/07/BTr-Treasury.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=750444", "url": "/banking-finance/2026/05/19/750444/banks-q1-net-profit-rises-to-p104-8-billion/", "title": "Banks\u2019 Q1 net profit rises to P104.8 billion", "content_html": "THE PHILIPPINE banking sector booked a slightly higher combined net income in the first quarter despite the onset of the Middle East war, data from the Bangko Sentral ng Pilipinas (BSP) showed.
\nBanks\u2019 net profit grew by 2.86% to P104.816 billion in the first three months of the year from P101.903 billion in the comparable year-ago period, according to preliminary data.
\nThe industry\u2019s bottom line was boosted by the 1.87% year-on-year climb in universal and commercial banks\u2019 earnings to P96.257 billion from P94.492 billion. This accounted for the bulk of the sector\u2019s income for the period.
\nThrift banks likewise posted higher net earnings in the first quarter, rising by 11.79% to P5.86 billion from P5.241 billion in the prior year. Rural and cooperative banks\u2019 net profit climbed by 6.45% to P3.416 billion from P3.209 billion.
\nMeanwhile, the digital banking sector\u2019s combined net loss narrowed by 30.96% to P717.71 million in the period from P1.04 billion a year ago.
\nThree of six BSP-licensed digital banks, namely, Tonik Digital Bank, Inc., Maya Bank, Inc. and Overseas Filipino Bank, Inc., earlier said they were profitable in the first quarter.
\nMichael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said banks\u2019 profit growth is consistent with the Philippine economy\u2019s continued expansion.
\nHigher earnings were supported by faster loan growth, which came as companies likely did \u201csome hedging and frontloading of borrowings before interest rates go up further to fund purchases of materials and finished products before inflation goes up further,\u201d he said.
\nIn March, big banks\u2019 outstanding loans grew by 10.7% to P14.603 trillion from P13.192 trillion in the prior year. This was the fastest annual increase in seven months.
\nThe banking system\u2019s net interest income increased by 12.44% year on year to P310.593 billion in the first quarter from P276.229 billion a year ago, BSP data showed.
\nThis came as interest earnings rose by 7.93% year on year to P427.409 billion, while interest expense fell by 2.74% to P116.045 billion.
\nMeanwhile, the industry\u2019s non-interest earnings edged down by 0.93% to P60.109 billion in the period from P60.673 billion last year.
\nThis came as banks\u2019 other income plunged by 93.56% to P822.071 million from P12.769 billion due to a combined net loss from foreign exchange transactions.
\nIncome from fees and commissions went up by 6.79% to P47.622 billion from P44.594 billion, while trading income stood at P6.216 billion, a turnaround from the P1.169-billion loss in the previous year.
\nOn the other hand, the sector\u2019s non-interest expenses climbed by 8.73% year on year to P207.731 billion in the first quarter from P191.056 billion.
\nBanks spent more on compensation, taxes and licenses, fees and commissions, other administrative expenses, and amortization during the period. They likewise incurred higher impairment losses but recorded lower provisioning.
\nLosses on financial assets widened to P43.495 billion in the period from P29.828 billion a year earlier.
\nMr. Ricafort said banks\u2019 profitability may come under pressure in the coming months, especially as they become more cautious in their lending activities as the Middle East conflict could affect borrowers\u2019 repayment capacity as it pushes up inflation, which may cause central banks to hike rates. This could result in higher nonperforming loans.
\nThe war could also slow domestic demand and economic growth, which would also impact banks\u2019 operating environment.
\n\u201cHigher bond yields could lead to lower trading gains, also amid volatility in the global and local financial markets,\u201d he said.
\n\u201cHigher interest rates and more cautious lending standards amid slower global and local economic growth prospects could slow down demand for loans and other banking products.\u201d\u00a0
\nThe BSP has said that the war has minimal direct impact on the Philippine banking system as it has ample buffers to weather the crisis, although asset quality risks could emerge in specific areas, specifically fuel- and supply-chain-dependent sectors like transportation, manufacturing, wholesale and retail trade, construction, and utilities. \u2014 Katherine K. Chan
\n", "content_text": "THE PHILIPPINE banking sector booked a slightly higher combined net income in the first quarter despite the onset of the Middle East war, data from the Bangko Sentral ng Pilipinas (BSP) showed.\nBanks\u2019 net profit grew by 2.86% to P104.816 billion in the first three months of the year from P101.903 billion in the comparable year-ago period, according to preliminary data.\nThe industry\u2019s bottom line was boosted by the 1.87% year-on-year climb in universal and commercial banks\u2019 earnings to P96.257 billion from P94.492 billion. This accounted for the bulk of the sector\u2019s income for the period.\nThrift banks likewise posted higher net earnings in the first quarter, rising by 11.79% to P5.86 billion from P5.241 billion in the prior year. Rural and cooperative banks\u2019 net profit climbed by 6.45% to P3.416 billion from P3.209 billion. \nMeanwhile, the digital banking sector\u2019s combined net loss narrowed by 30.96% to P717.71 million in the period from P1.04 billion a year ago.\nThree of six BSP-licensed digital banks, namely, Tonik Digital Bank, Inc., Maya Bank, Inc. and Overseas Filipino Bank, Inc., earlier said they were profitable in the first quarter.\nMichael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said banks\u2019 profit growth is consistent with the Philippine economy\u2019s continued expansion.\nHigher earnings were supported by faster loan growth, which came as companies likely did \u201csome hedging and frontloading of borrowings before interest rates go up further to fund purchases of materials and finished products before inflation goes up further,\u201d he said.\nIn March, big banks\u2019 outstanding loans grew by 10.7% to P14.603 trillion from P13.192 trillion in the prior year. This was the fastest annual increase in seven months.\nThe banking system\u2019s net interest income increased by 12.44% year on year to P310.593 billion in the first quarter from P276.229 billion a year ago, BSP data showed.\nThis came as interest earnings rose by 7.93% year on year to P427.409 billion, while interest expense fell by 2.74% to P116.045 billion.\nMeanwhile, the industry\u2019s non-interest earnings edged down by 0.93% to P60.109 billion in the period from P60.673 billion last year.\nThis came as banks\u2019 other income plunged by 93.56% to P822.071 million from P12.769 billion due to a combined net loss from foreign exchange transactions.\nIncome from fees and commissions went up by 6.79% to P47.622 billion from P44.594 billion, while trading income stood at P6.216 billion, a turnaround from the P1.169-billion loss in the previous year.\nOn the other hand, the sector\u2019s non-interest expenses climbed by 8.73% year on year to P207.731 billion in the first quarter from P191.056 billion.\nBanks spent more on compensation, taxes and licenses, fees and commissions, other administrative expenses, and amortization during the period. They likewise incurred higher impairment losses but recorded lower provisioning.\nLosses on financial assets widened to P43.495 billion in the period from P29.828 billion a year earlier. \nMr. Ricafort said banks\u2019 profitability may come under pressure in the coming months, especially as they become more cautious in their lending activities as the Middle East conflict could affect borrowers\u2019 repayment capacity as it pushes up inflation, which may cause central banks to hike rates. This could result in higher nonperforming loans.\nThe war could also slow domestic demand and economic growth, which would also impact banks\u2019 operating environment.\n\u201cHigher bond yields could lead to lower trading gains, also amid volatility in the global and local financial markets,\u201d he said.\n\u201cHigher interest rates and more cautious lending standards amid slower global and local economic growth prospects could slow down demand for loans and other banking products.\u201d\u00a0\nThe BSP has said that the war has minimal direct impact on the Philippine banking system as it has ample buffers to weather the crisis, although asset quality risks could emerge in specific areas, specifically fuel- and supply-chain-dependent sectors like transportation, manufacturing, wholesale and retail trade, construction, and utilities. \u2014 Katherine K. Chan", "date_published": "2026-05-19T00:03:47+08:00", "date_modified": "2026-05-18T19:01:51+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/05/BDO-ATM.jpg", "tags": [ "Katherine K. Chan", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=750348", "url": "/banking-finance/2026/05/19/750348/peso-sinks-to-new-record-low-for-third-straight-day-as-war-drags-on/", "title": "Peso sinks to new record low for third straight day as war drags on", "content_html": "THE PESO dropped to new record low on Monday as the Strait of Hormuz\u2019s continued closure due to the standoff between the United States and Iran drove oil prices higher, fueling demand for the greenback.
\nThe currency edged down by 2.9 centavos to close at P61.75 a dollar from P61.721 on Friday, according to Bankers Association of the Philippines data posted on its website.
\nYear to date, the peso has depreciated by P2.96 or 4.79% from its P58.79 finish on Dec. 29, 2025.
\nThe local unit opened the session slightly stronger at P61.69 per dollar and climbed to a high of P61.64 against the greenback. Meanwhile, it closed at its intraday low.
\nDollars traded went down to $1 billion from $1.199 billion in the previous session.
\nThe peso sank to a new historic low due to higher US retail sales data and elevated global crude oil prices, the first trader said by phone.
\nThe market remains watchful of domestic political developments, although external factors were the main drivers for the peso\u2019s latest slide, the first trader said.
\nThe peso was mainly dragged down by oil-related dollar demand \u201cand a market that is becoming more sensitive to domestic uncertainty,\u201d a second trader said in a Viber message.
\n\u201cThe peso is starting to trade less on valuation and more on sentiment,\u201d the second trader said. \u201cAt these levels, positioning and momentum also matter, which can exaggerate moves in thin liquidity.\u201d
\nThe Senate convened as an impeachment court on Monday that could decide the future of Vice-President Sara Duterte-Carpio, with a heated battle between two rival political camps set to be front and center in the trial, Reuters reported. It comes against a turbulent political backdrop, just days after chaos and a shootout in the upper house and a potentially decisive change in its leadership, both stemming from the re-emergence from hiding of a pro-Duterte senator wanted by the International Criminal Court.
\nMeanwhile, the dollar dipped against a range of major currencies on Monday, but held near last week\u2019s highs, as fresh tensions in the Middle East pushed up global bond yields.
\nThe dollar index was a touch softer at 99.12, having posted its strongest weekly performance in three months last week.
\nOil prices climbed on Monday, with Brent crude futures rising more than 1% to over $110 a barrel, after a nuclear power plant in the United Arab Emirates came under attack and efforts to end the US-Israeli war on Iran appear to have stalled.
\nDemand for the greenback was also supported by expectations of rate hikes from the Federal Reserve, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
\nFurther denting risk appetite, a global bond rout deepened on Monday as rising energy prices fanned inflation fears and stoked wagers on rate hikes from global central banks.
\nMarkets are now pricing in a more than 50% chance that the Fed would raise rates by December, according to the CME FedWatch tool.
\nFor Tuesday, the first trader sees the peso moving between P61.45 and P61.75 per dollar, while Mr. Ricafort expects it to range from P61.60 to P61.80.
\nThe second trader said the peso could reach the P62 level in the near term, but sharp swings in both directions are likely. \u2014 Aaron Michael C. Sy with Reuters
\n", "content_text": "THE PESO dropped to new record low on Monday as the Strait of Hormuz\u2019s continued closure due to the standoff between the United States and Iran drove oil prices higher, fueling demand for the greenback.\nThe currency edged down by 2.9 centavos to close at P61.75 a dollar from P61.721 on Friday, according to Bankers Association of the Philippines data posted on its website.\nYear to date, the peso has depreciated by P2.96 or 4.79% from its P58.79 finish on Dec. 29, 2025.\nThe local unit opened the session slightly stronger at P61.69 per dollar and climbed to a high of P61.64 against the greenback. Meanwhile, it closed at its intraday low.\nDollars traded went down to $1 billion from $1.199 billion in the previous session.\nThe peso sank to a new historic low due to higher US retail sales data and elevated global crude oil prices, the first trader said by phone.\nThe market remains watchful of domestic political developments, although external factors were the main drivers for the peso\u2019s latest slide, the first trader said.\nThe peso was mainly dragged down by oil-related dollar demand \u201cand a market that is becoming more sensitive to domestic uncertainty,\u201d a second trader said in a Viber message.\n\u201cThe peso is starting to trade less on valuation and more on sentiment,\u201d the second trader said. \u201cAt these levels, positioning and momentum also matter, which can exaggerate moves in thin liquidity.\u201d\nThe Senate convened as an impeachment court on Monday that could decide the future of Vice-President Sara Duterte-Carpio, with a heated battle between two rival political camps set to be front and center in the trial, Reuters reported. It comes against a turbulent political backdrop, just days after chaos and a shootout in the upper house and a potentially decisive change in its leadership, both stemming from the re-emergence from hiding of a pro-Duterte senator wanted by the International Criminal Court.\nMeanwhile, the dollar dipped against a range of major currencies on Monday, but held near last week\u2019s highs, as fresh tensions in the Middle East pushed up global bond yields.\nThe dollar index was a touch softer at 99.12, having posted its strongest weekly performance in three months last week.\nOil prices climbed on Monday, with Brent crude futures rising more than 1% to over $110 a barrel, after a nuclear power plant in the United Arab Emirates came under attack and efforts to end the US-Israeli war on Iran appear to have stalled.\nDemand for the greenback was also supported by expectations of rate hikes from the Federal Reserve, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.\nFurther denting risk appetite, a global bond rout deepened on Monday as rising energy prices fanned inflation fears and stoked wagers on rate hikes from global central banks.\nMarkets are now pricing in a more than 50% chance that the Fed would raise rates by December, according to the CME FedWatch tool.\nFor Tuesday, the first trader sees the peso moving between P61.45 and P61.75 per dollar, while Mr. Ricafort expects it to range from P61.60 to P61.80.\nThe second trader said the peso could reach the P62 level in the near term, but sharp swings in both directions are likely. \u2014 Aaron Michael C. Sy with Reuters", "date_published": "2026-05-19T00:02:22+08:00", "date_modified": "2026-05-18T19:01:29+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/04/Peso-dollar-currency.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks", "One News", "大象传媒" ] }, { "id": "/?p=750441", "url": "/banking-finance/2026/05/19/750441/aub-net-income-climbs-to-p3-2b/", "title": "AUB net income climbs to P3.2B", "content_html": "ASIA United Bank Corp. (AUB) saw its net income rise by 1.8% in the first quarter, supported by the continued growth of its core business.
\nThe bank\u2019s net profit went up to a record P3.2 billion for the three-month period from P3.14 billion a year ago, it said in a disclosure to the stock exchange on Monday.
\nThis translated to a return on assets of 3.2% and a return on equity of 19.3%, both down from 3.4% and 22.3% a year ago.
\n\u201c(O)ur historic-high financial results serve as a powerful validation of our ability to maintain stability and growth in a \u2018permacrisis\u2019 environment,\u201d AUB President Manuel A. Gomez said. \u201cOur robust internal controls and investment strategies are built to withstand extreme external shocks while delivering world-class service.\u201d
\nNet interest income climbed by 16.8% year on year to P5.02 billion in the first three months from P4.31 billion. This translated to a net interest margin of 5.3%, up from 5.1% a year ago.
\nInterest income grew by 11.9% to P6.29 billion from P5.62 billion, which it attributed to its loan portfolio\u2019s growth, while interest expense declined by 2.16% to P1.28 billion from P1.31 billion amid lower high-cost deposits.
\n\u201cAUB saw sustained momentum across its core lending and deposit-taking operations,\u201d it said.
\nThe bank\u2019s loans and receivables grew by 9.4% year on year to P276.2 billion.
\nOn the funding side, total deposit liabilities increased by 8.9% to P335.5 billion. Current and savings account deposits made up 78% of this total, up from 69% a year ago, \u201creflecting a robust and low-cost funding base,\u201d it said.
\nThis translated to a loan-to-deposit ratio of 82.3%, edging up from 82% previously.
\nMeanwhile, AUB\u2019s other operating income went down by 7.67% to P1.18 billion from P1.28 billion, mainly due to lower fee earnings and foreign exchange gains.
\nService charges, fees and commissions decreased by 14% to P411.3 million. Foreign exchange gains dropped by 9% to P192 million mainly due to fluctuations in the currency market.
\nAs a result, total operating income was at P6.19 billion in the first quarter, up by 10.81% from P5.59 billion a year ago.
\nMeanwhile, the bank\u2019s operating expenses rose by 17.39% to P2.22 billion in the first three months from P1.89 billion in the same period last year.
\nIt said it \u201cproactively\u201d increased its loan loss provisions to P331.29 million from just P65.89 million a year ago.
\nCost-to-income ratio improved to 30.4% in the first quarter from 32.6% a year ago.
\nMeanwhile, the bank\u2019s nonperforming loan (NPL) ratio stood at 0.44% at end-March, up from 0.38% at end-2025 and 0.4% a year prior.
\nIts NPL coverage ratio was at 111.2%.
\nAUB\u2019s assets stood at P422.52 billion at end-March, growing by 10% from P384.09 billion a year ago.
\nTotal equity stood at P70.76 billion in the first quarter, up by 14.43% year on year from P61.84 billion.
\nIts capital adequacy ratio rose to 19.28% from 18.19% a year ago, while common equity Tier 1 ratio went up to 18.73% from 17.49%.
\n\u201cBoth metrics remain comfortably above regulatory requirements, providing the bank with substantial capacity to cushion against macroeconomic pressures and support future expansion,\u201d it said.
\nAUB\u2019s shares climbed by 70 centavos or 1.61% to close at P44.10 each on Monday. \u2014 Aaron Michael C. Sy
\n", "content_text": "ASIA United Bank Corp. (AUB) saw its net income rise by 1.8% in the first quarter, supported by the continued growth of its core business.\nThe bank\u2019s net profit went up to a record P3.2 billion for the three-month period from P3.14 billion a year ago, it said in a disclosure to the stock exchange on Monday.\nThis translated to a return on assets of 3.2% and a return on equity of 19.3%, both down from 3.4% and 22.3% a year ago.\n\u201c(O)ur historic-high financial results serve as a powerful validation of our ability to maintain stability and growth in a \u2018permacrisis\u2019 environment,\u201d AUB President Manuel A. Gomez said. \u201cOur robust internal controls and investment strategies are built to withstand extreme external shocks while delivering world-class service.\u201d\nNet interest income climbed by 16.8% year on year to P5.02 billion in the first three months from P4.31 billion. This translated to a net interest margin of 5.3%, up from 5.1% a year ago.\nInterest income grew by 11.9% to P6.29 billion from P5.62 billion, which it attributed to its loan portfolio\u2019s growth, while interest expense declined by 2.16% to P1.28 billion from P1.31 billion amid lower high-cost deposits.\n\u201cAUB saw sustained momentum across its core lending and deposit-taking operations,\u201d it said.\nThe bank\u2019s loans and receivables grew by 9.4% year on year to P276.2 billion.\nOn the funding side, total deposit liabilities increased by 8.9% to P335.5 billion. Current and savings account deposits made up 78% of this total, up from 69% a year ago, \u201creflecting a robust and low-cost funding base,\u201d it said.\nThis translated to a loan-to-deposit ratio of 82.3%, edging up from 82% previously.\nMeanwhile, AUB\u2019s other operating income went down by 7.67% to P1.18 billion from P1.28 billion, mainly due to lower fee earnings and foreign exchange gains.\nService charges, fees and commissions decreased by 14% to P411.3 million. Foreign exchange gains dropped by 9% to P192 million mainly due to fluctuations in the currency market.\nAs a result, total operating income was at P6.19 billion in the first quarter, up by 10.81% from P5.59 billion a year ago.\nMeanwhile, the bank\u2019s operating expenses rose by 17.39% to P2.22 billion in the first three months from P1.89 billion in the same period last year.\nIt said it \u201cproactively\u201d increased its loan loss provisions to P331.29 million from just P65.89 million a year ago.\nCost-to-income ratio improved to 30.4% in the first quarter from 32.6% a year ago.\nMeanwhile, the bank\u2019s nonperforming loan (NPL) ratio stood at 0.44% at end-March, up from 0.38% at end-2025 and 0.4% a year prior.\nIts NPL coverage ratio was at 111.2%.\nAUB\u2019s assets stood at P422.52 billion at end-March, growing by 10% from P384.09 billion a year ago.\nTotal equity stood at P70.76 billion in the first quarter, up by 14.43% year on year from P61.84 billion.\nIts capital adequacy ratio rose to 19.28% from 18.19% a year ago, while common equity Tier 1 ratio went up to 18.73% from 17.49%.\n\u201cBoth metrics remain comfortably above regulatory requirements, providing the bank with substantial capacity to cushion against macroeconomic pressures and support future expansion,\u201d it said.\nAUB\u2019s shares climbed by 70 centavos or 1.61% to close at P44.10 each on Monday. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-19T00:01:46+08:00", "date_modified": "2026-05-18T19:00:57+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/05/Asia-United-Bank-041018.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "id": "/?p=750324", "url": "/banking-finance/2026/05/18/750324/metrobank-offers-yields-of-up-to-5-per-annum-on-online-time-deposits/", "title": "Metrobank offers yields of up to 5% per annum on online time deposits", "content_html": "METROPOLITAN Bank & Trust Co. (Metrobank) is offering higher yields on its online time deposit product, letting customers earn up to 5% per annum to grow their savings.
\nCustomers can choose from different savings amount and tenors to take advantage of the revised rates that took effect on May 15.
\nThe bank\u2019s online time deposit product offers four placement tiers: P10,000 to P199,999; P200,000 to P999,999; P1 million to P9.999 million; and P10 million and up.
\nYields depend on the term length or how long funds are kept with the bank, with the bank offering terms of one to 12 months. Rates per annum range from 4.125% to 5%.
\n\u201cThe higher rate comes as more people look for secure and practical ways to make their money work harder amid rising costs and growing financial responsibilities,\u201d Metrobank said.
\n\u201cDesigned for convenience and discipline, Metrobank\u2019s Online Time Deposit allows customers to set aside funds digitally through the Metrobank App and Metrobank Online, helping them stay committed to their savings goals while earning higher returns.\u201d
\nThis is meant to encourage long-term saving as these funds are separated from those used for daily expenses, it added.
\nThose who want to open an online time deposit must have Metrobank Online access and an eligible deposit account to serve as the settlement account for their placements.
\nCustomers can manage their investment digitally and make placements at their convenience. \u2014 BVR
\n", "content_text": "METROPOLITAN Bank & Trust Co. (Metrobank) is offering higher yields on its online time deposit product, letting customers earn up to 5% per annum to grow their savings.\nCustomers can choose from different savings amount and tenors to take advantage of the revised rates that took effect on May 15.\nThe bank\u2019s online time deposit product offers four placement tiers: P10,000 to P199,999; P200,000 to P999,999; P1 million to P9.999 million; and P10 million and up.\nYields depend on the term length or how long funds are kept with the bank, with the bank offering terms of one to 12 months. Rates per annum range from 4.125% to 5%.\n\u201cThe higher rate comes as more people look for secure and practical ways to make their money work harder amid rising costs and growing financial responsibilities,\u201d Metrobank said.\n\u201cDesigned for convenience and discipline, Metrobank\u2019s Online Time Deposit allows customers to set aside funds digitally through the Metrobank App and Metrobank Online, helping them stay committed to their savings goals while earning higher returns.\u201d\nThis is meant to encourage long-term saving as these funds are separated from those used for daily expenses, it added.\nThose who want to open an online time deposit must have Metrobank Online access and an eligible deposit account to serve as the settlement account for their placements.\nCustomers can manage their investment digitally and make placements at their convenience. \u2014 BVR", "date_published": "2026-05-18T16:07:48+08:00", "date_modified": "2026-05-18T16:07:48+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/03/Metrobank.jpg", "tags": [ "Bettina V. Roc", "Banking & Finance" ] }, { "id": "/?p=750181", "url": "/banking-finance/2026/05/18/750181/t-bill-t-bond-yields-may-rise-on-rate-hike-outlook/", "title": "T-bill, T-bond yields may rise on rate hike outlook", "content_html": "By Aaron Michael C. Sy, Reporter
\nRATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) to be offered this week could rise further as investors continue to demand higher returns amid market uncertainty, persistent inflation concerns and expectations of additional interest rate increases.
\nYields might continue to climb following the rise in the secondary market amid concerns over the peso\u2019s weakness and political tensions, said Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp.
\nT-bill and T-bond rates could follow the week-on-week increase in the secondary market on weakening sentiment after the peso broke a record low against the dollar and amid political unrest, he said in a Viber message.
\nThe Bureau of the Treasury (BTr) will auction off as much as P39 billion in T-bills on Monday \u2014 P13 billion each in 91-, 182- and 364-day securities.
\nOn Tuesday, the government plans to raise P30 billion through reissued 10-year Treasury bonds with a remaining life of seven years and three months.
\nYields on short-term government debt rose sharply in the secondary market on Friday. The 91-day, 182-day and 364-day T-bills climbed to 4.91%, 5.29% and 5.91%, respectively, based on PHP Bloomberg Valuation reference rates published on the BTr website.
\nMeanwhile, the 10-year bond yield rose to 7.62%, while the seven-year rate climbed to 7.57%.
\nThe peso closed at a fresh record low of P61.721 a dollar on Friday, weakening further from the previous day\u2019s close.
\nThe local currency has depreciated by nearly 5% against the dollar this year.
\nAnalysts said the peso\u2019s weakness, driven partly by elevated oil prices linked to the Middle East war, has added to inflation concerns and expectations of tighter monetary policy.
\nPolitical turmoil also continued to weigh on market sentiment after the Senate convened as an impeachment court for the trial of Vice-President Sara Duterte-Carpio.
\nConcerns over the International Criminal Court investigation linked to former President Rodrigo R. Duterte\u2019s anti-drug campaign have also added to political uncertainty.
\nA trader said investors remained cautious in the secondary market last week amid growing expectations of further rate hikes by the Bangko Sentral ng Pilipinas (BSP).
\nThe Monetary Board last month raised benchmark interest rates by 25 basis points to 4.5%, the central bank\u2019s first rate hike since 2023.
\nBSP Governor Eli M. Remolona, Jr. has since signaled the possibility of further tightening through \u201ca succession of modest rate hikes\u201d as inflation risks persist following the oil price shock linked to the Iran war.
\nLast week, the Treasury raised P27.51 billion from its T-bill auction, below the P32-billion target, despite healthy investor demand.
\nThe average rates for all three tenors rose sharply from the previous auction, reflecting investors\u2019 demand for higher yields.
\nThe Treasury bond to be auctioned on Tuesday was last offered in April, when the government raised P20 billion at an average rate of 6.643%.
\nThe government plans to borrow P268 billion from the domestic market this month through T-bills and T-bonds as it seeks to help finance this year\u2019s budget deficit.
\n", "content_text": "By Aaron Michael C. Sy, Reporter\nRATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) to be offered this week could rise further as investors continue to demand higher returns amid market uncertainty, persistent inflation concerns and expectations of additional interest rate increases.\nYields might continue to climb following the rise in the secondary market amid concerns over the peso\u2019s weakness and political tensions, said Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp.\nT-bill and T-bond rates could follow the week-on-week increase in the secondary market on weakening sentiment after the peso broke a record low against the dollar and amid political unrest, he said in a Viber message.\nThe Bureau of the Treasury (BTr) will auction off as much as P39 billion in T-bills on Monday \u2014 P13 billion each in 91-, 182- and 364-day securities.\nOn Tuesday, the government plans to raise P30 billion through reissued 10-year Treasury bonds with a remaining life of seven years and three months.\nYields on short-term government debt rose sharply in the secondary market on Friday. The 91-day, 182-day and 364-day T-bills climbed to 4.91%, 5.29% and 5.91%, respectively, based on PHP Bloomberg Valuation reference rates published on the BTr website.\nMeanwhile, the 10-year bond yield rose to 7.62%, while the seven-year rate climbed to 7.57%.\nThe peso closed at a fresh record low of P61.721 a dollar on Friday, weakening further from the previous day\u2019s close.\nThe local currency has depreciated by nearly 5% against the dollar this year.\nAnalysts said the peso\u2019s weakness, driven partly by elevated oil prices linked to the Middle East war, has added to inflation concerns and expectations of tighter monetary policy.\nPolitical turmoil also continued to weigh on market sentiment after the Senate convened as an impeachment court for the trial of Vice-President Sara Duterte-Carpio.\nConcerns over the International Criminal Court investigation linked to former President Rodrigo R. Duterte\u2019s anti-drug campaign have also added to political uncertainty.\nA trader said investors remained cautious in the secondary market last week amid growing expectations of further rate hikes by the Bangko Sentral ng Pilipinas (BSP).\nThe Monetary Board last month raised benchmark interest rates by 25 basis points to 4.5%, the central bank\u2019s first rate hike since 2023.\nBSP Governor Eli M. Remolona, Jr. has since signaled the possibility of further tightening through \u201ca succession of modest rate hikes\u201d as inflation risks persist following the oil price shock linked to the Iran war.\nLast week, the Treasury raised P27.51 billion from its T-bill auction, below the P32-billion target, despite healthy investor demand.\nThe average rates for all three tenors rose sharply from the previous auction, reflecting investors\u2019 demand for higher yields.\nThe Treasury bond to be auctioned on Tuesday was last offered in April, when the government raised P20 billion at an average rate of 6.643%.\nThe government plans to borrow P268 billion from the domestic market this month through T-bills and T-bonds as it seeks to help finance this year\u2019s budget deficit.", "date_published": "2026-05-18T00:06:31+08:00", "date_modified": "2026-05-17T19:36:34+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/05/BTr-Treasury.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ], "summary": "RATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) to be offered this week could rise further as investors continue to demand higher returns amid market uncertainty, persistent inflation concerns and expectations of additional interest rate increases." }, { "id": "/?p=750180", "url": "/banking-finance/2026/05/18/750180/peso-may-test-p62-versus-dollar-on-iran-war-local-political-turmoil/", "title": "Peso may test P62 versus dollar on Iran war, local political turmoil", "content_html": "By Aaron Michael C. Sy, Reporter
\nTHE PESO could weaken further and test the P62-a-dollar level this week as the unresolved US-Israel war on Iran continues to boost demand for the greenback and drive oil prices higher, while political tensions at home weigh on sentiment.
\nThe local unit closed at a fresh record low of P61.721 a dollar on Friday, weakening by 8.1 centavos from Thursday\u2019s P61.64 finish, based on Bankers Association of the Philippines data posted in its website.
\nIts intraday low of P61.73 was also near the previous all-time low of P61.75 recorded on April 30. Week on week, the peso declined by P1.108.
\nSince the start of the year, the currency has depreciated by 4.75% or P2.93.
\nA trader said the peso weakened on rising oil prices and stronger US retail data, which supported the dollar.
\nReuters reported that the dollar strengthened for a fifth straight session on Friday and was on track for its biggest weekly gain in two months as investors increasingly expected the US Federal Reserve to keep rates elevated or possibly tighten further.
\nThe benchmark 10-year US Treasury yield climbed to its highest level in a year as inflation concerns persisted amid supply disruptions linked to the Middle East war.
\nThe dollar index, which measures the greenback against a basket of currencies, rose to 99.27.
\nMeanwhile, global oil prices surged further after renewed tensions surrounding the Strait of Hormuz dampened hopes for a ceasefire between the US and Iran.
\nWest Texas Intermediate crude rose above $105 per barrel, while Brent crude climbed past $109.
\nMichael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said local political turmoil also weighed on the peso.
\nThe Senate is set to convene as an impeachment court for the trial of Vice-President Sara Duterte-Carpio following moves in the House of Representatives to remove her from office.
\nPolitical tensions also intensified after Senator Ronald \u201cBato\u201d M. dela Rosa resurfaced after months in hiding over a possible arrest tied to the International Criminal Court investigation.
\nThe trader expects the peso to test the P62 level this week as the prolonged Middle East war and disruptions in the Strait of Hormuz continue to support higher oil prices and the dollar.
\nThe trader expects the peso to move at P61.50 to P62 a dollar this week, while Mr. Ricafort sees it ranging from P61.40 to P61.90.
\n", "content_text": "By Aaron Michael C. Sy, Reporter\nTHE PESO could weaken further and test the P62-a-dollar level this week as the unresolved US-Israel war on Iran continues to boost demand for the greenback and drive oil prices higher, while political tensions at home weigh on sentiment.\nThe local unit closed at a fresh record low of P61.721 a dollar on Friday, weakening by 8.1 centavos from Thursday\u2019s P61.64 finish, based on Bankers Association of the Philippines data posted in its website.\nIts intraday low of P61.73 was also near the previous all-time low of P61.75 recorded on April 30. Week on week, the peso declined by P1.108.\nSince the start of the year, the currency has depreciated by 4.75% or P2.93.\nA trader said the peso weakened on rising oil prices and stronger US retail data, which supported the dollar.\nReuters reported that the dollar strengthened for a fifth straight session on Friday and was on track for its biggest weekly gain in two months as investors increasingly expected the US Federal Reserve to keep rates elevated or possibly tighten further.\nThe benchmark 10-year US Treasury yield climbed to its highest level in a year as inflation concerns persisted amid supply disruptions linked to the Middle East war.\nThe dollar index, which measures the greenback against a basket of currencies, rose to 99.27.\nMeanwhile, global oil prices surged further after renewed tensions surrounding the Strait of Hormuz dampened hopes for a ceasefire between the US and Iran.\nWest Texas Intermediate crude rose above $105 per barrel, while Brent crude climbed past $109.\nMichael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said local political turmoil also weighed on the peso.\nThe Senate is set to convene as an impeachment court for the trial of Vice-President Sara Duterte-Carpio following moves in the House of Representatives to remove her from office.\nPolitical tensions also intensified after Senator Ronald \u201cBato\u201d M. dela Rosa resurfaced after months in hiding over a possible arrest tied to the International Criminal Court investigation.\nThe trader expects the peso to test the P62 level this week as the prolonged Middle East war and disruptions in the Strait of Hormuz continue to support higher oil prices and the dollar.\nThe trader expects the peso to move at P61.50 to P62 a dollar this week, while Mr. Ricafort sees it ranging from P61.40 to P61.90.", "date_published": "2026-05-18T00:05:31+08:00", "date_modified": "2026-05-17T19:36:13+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/10/peso-dollar-currency.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks", "One News", "大象传媒" ], "summary": "THE PESO could weaken further and test the P62-a-dollar level this week as the unresolved US-Israel war on Iran continues to boost demand for the greenback and drive oil prices higher, while political tensions at home weigh on sentiment." }, { "id": "/?p=750179", "url": "/banking-finance/2026/05/18/750179/phl-yields-climb-on-inflation-bsp-hike-bets/", "title": "PHL yields climb on inflation, BSP hike bets", "content_html": "YIELDS on government securities (GS) traded in the secondary market rose sharply across all maturities last week as persistent inflation concerns and expectations of another rate increase from the Bangko Sentral ng Pilipinas (BSP) weighed on demand for bonds.
\nStronger-than-expected US inflation data reinforced expectations that the US Federal Reserve could keep interest rates elevated for longer, adding upward pressure on local yields, analysts said.
\nGovernment debt yields, which move opposite to prices, climbed by an average of 34.18 basis points (bps) week on week, based on PHP Bloomberg Valuation Service Reference Rates as of May 15 posted on the Philippine Dealing System\u2019s website.
\nYields rose across the curve, with increases seen in short-, medium- and long-term Treasury securities.
\nTrading volume for government securities slipped to P15.87 billion on Friday from P17.56 billion a week earlier.
\nA bond trader said investors continued to demand higher yields as inflation risks intensified following higher oil prices linked to the US-Iran war.
\n\u201cThe strong demand for government securities is being driven by domestic inflationary concerns and market expectations of a potential BSP rate hike,\u201d the trader said in an e-mailed reply to questions.
\nThe trader added that stronger US inflation also reinforced expectations that the Federal Reserve would keep rates unchanged for an extended period.
\nMichael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said rising fuel prices continued to feed into broader inflation pressures.
\n\u201cThe increase is largely due to the effects of the sharply higher oil, fuel and petroleum prices on the prices of other goods and services or second-round inflation effects,\u201d he said in a Viber message.
\nMr. Ricafort added that rising global oil prices and higher US Treasury yields also contributed to the increase in local bond yields.
\n\u201cInvestors are waiting for the peak in bond yields before taking positions to lock in higher returns,\u201d he said.
\nHeadline inflation accelerated to 7.2% in April from 4.1% in March, the fastest in more than three years and exceeding the BSP\u2019s 2%-4% target.
\nIn April, the BSP raised benchmark interest rates by 25 bps to 4.5%, its first rate hike in more than two years.
\nMeanwhile, US consumer inflation rose in April for a second straight month, according to Reuters, reinforcing expectations that the Federal Reserve might keep borrowing costs elevated. \u2014 Abigail Marie P. Yraola
\n", "content_text": "YIELDS on government securities (GS) traded in the secondary market rose sharply across all maturities last week as persistent inflation concerns and expectations of another rate increase from the Bangko Sentral ng Pilipinas (BSP) weighed on demand for bonds.\nStronger-than-expected US inflation data reinforced expectations that the US Federal Reserve could keep interest rates elevated for longer, adding upward pressure on local yields, analysts said.\nGovernment debt yields, which move opposite to prices, climbed by an average of 34.18 basis points (bps) week on week, based on PHP Bloomberg Valuation Service Reference Rates as of May 15 posted on the Philippine Dealing System\u2019s website.\nYields rose across the curve, with increases seen in short-, medium- and long-term Treasury securities.\nTrading volume for government securities slipped to P15.87 billion on Friday from P17.56 billion a week earlier.\nA bond trader said investors continued to demand higher yields as inflation risks intensified following higher oil prices linked to the US-Iran war.\n\u201cThe strong demand for government securities is being driven by domestic inflationary concerns and market expectations of a potential BSP rate hike,\u201d the trader said in an e-mailed reply to questions.\nThe trader added that stronger US inflation also reinforced expectations that the Federal Reserve would keep rates unchanged for an extended period.\nMichael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said rising fuel prices continued to feed into broader inflation pressures.\n\u201cThe increase is largely due to the effects of the sharply higher oil, fuel and petroleum prices on the prices of other goods and services or second-round inflation effects,\u201d he said in a Viber message.\nMr. Ricafort added that rising global oil prices and higher US Treasury yields also contributed to the increase in local bond yields.\n\u201cInvestors are waiting for the peak in bond yields before taking positions to lock in higher returns,\u201d he said.\nHeadline inflation accelerated to 7.2% in April from 4.1% in March, the fastest in more than three years and exceeding the BSP\u2019s 2%-4% target.\nIn April, the BSP raised benchmark interest rates by 25 bps to 4.5%, its first rate hike in more than two years.\nMeanwhile, US consumer inflation rose in April for a second straight month, according to Reuters, reinforcing expectations that the Federal Reserve might keep borrowing costs elevated. \u2014 Abigail Marie P. Yraola", "date_published": "2026-05-18T00:04:30+08:00", "date_modified": "2026-05-17T19:35:36+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/YIELD-colored-05.18.26.jpg", "tags": [ "Abigail Marie P. Yraola", "Yield Tracker", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=750178", "url": "/banking-finance/2026/05/18/750178/penetration-tops-2-as-insurance-premiums-rise/", "title": "Penetration tops 2% as insurance premiums rise", "content_html": "THE INSURANCE INDUSTRY posted higher premium income in the first quarter as insurance penetration breached the 2% level for the first time in five years, according to the Insurance Commission.
\n\u201cAmid prevailing economic challenges, the insurance industry remains firmly positioned to meet policyholder needs and deliver on its commitments with stability and resilience,\u201d Insurance Commissioner Reynaldo A. Regalado said in a statement.
\nThe industry\u2019s combined premium income rose to P140.85 billion in the January-to-March period from P124.48 billion a year earlier, based on preliminary data from the regulator.
\nInsurance penetration, or the ratio of insurance premiums to gross domestic product, stood at 2.03% as of end-March, matching the level recorded in the third quarter of 2021.
\nInsurance density, which measures average insurance spending per person, also increased to P1,231.61.
\nMeanwhile, the industry\u2019s net income slipped by 1.75% in the first quarter due to higher benefit payments. Total benefit payments climbed to P43.44 billion from P39.01 billion a year earlier.
\nDespite the decline in earnings, the sector\u2019s financial position improved, with total assets expanding to P2.65 trillion from P2.48 trillion a year earlier.
\nTotal invested assets likewise increased to P2.37 trillion from P2.19 trillion. \u2014 Aaron Michael C. Sy
\n", "content_text": "THE INSURANCE INDUSTRY posted higher premium income in the first quarter as insurance penetration breached the 2% level for the first time in five years, according to the Insurance Commission.\n\u201cAmid prevailing economic challenges, the insurance industry remains firmly positioned to meet policyholder needs and deliver on its commitments with stability and resilience,\u201d Insurance Commissioner Reynaldo A. Regalado said in a statement.\nThe industry\u2019s combined premium income rose to P140.85 billion in the January-to-March period from P124.48 billion a year earlier, based on preliminary data from the regulator.\nInsurance penetration, or the ratio of insurance premiums to gross domestic product, stood at 2.03% as of end-March, matching the level recorded in the third quarter of 2021.\nInsurance density, which measures average insurance spending per person, also increased to P1,231.61.\nMeanwhile, the industry\u2019s net income slipped by 1.75% in the first quarter due to higher benefit payments. Total benefit payments climbed to P43.44 billion from P39.01 billion a year earlier.\nDespite the decline in earnings, the sector\u2019s financial position improved, with total assets expanding to P2.65 trillion from P2.48 trillion a year earlier. \nTotal invested assets likewise increased to P2.37 trillion from P2.19 trillion. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-18T00:03:30+08:00", "date_modified": "2026-05-17T19:34:43+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2024/08/IC-Insurance-Commission.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "id": "/?p=750176", "url": "/banking-finance/2026/05/18/750176/bsp-bill-yields-rise-for-4th-straight-week-amid-strong-investor-demand/", "title": "BSP bill yields rise for 4th straight week amid strong investor demand", "content_html": "YIELDS on Bangko Sentral ng Pilipinas\u2019 (BSP) short-term securities edged higher for a fourth straight week even as investor demand remained strong.
\nThe 28-day BSP bills drew P90.884 billion in tenders on Friday, well above the P70-billion offer and higher than the previous week\u2019s P81.892 billion in bids for the same volume.
\nThis lifted the bid-to-cover ratio to 1.3 times from 1.17 times a week earlier. The BSP awarded its full P70-billion offer.
\nAccepted rates ranged from 4.6% to 4.715%, slightly narrower than 4.495% to 4.728% a week earlier. The weighted average rate rose to 4.6651% from 4.6483%.
\nThe BSP has not offered 56-day bills since Nov. 3.
\nThe central bank uses its securities and term deposit facility to absorb excess liquidity and guide short-term rates toward its policy rate. BSP bills also help improve price discovery and strengthen monetary policy transmission.
\nThe BSP started weekly issuances in 2020, initially with 28-day bills, later adding 56-day debt in 2023 before scaling back to a single tenor.
\nAs of mid-February, BSP liquidity operations have withdrawn about P1.2 trillion from the financial system, mainly through reverse repurchase operations, term deposits and BSP securities. \u2014 Katherine K. Chan
\n", "content_text": "YIELDS on Bangko Sentral ng Pilipinas\u2019 (BSP) short-term securities edged higher for a fourth straight week even as investor demand remained strong.\nThe 28-day BSP bills drew P90.884 billion in tenders on Friday, well above the P70-billion offer and higher than the previous week\u2019s P81.892 billion in bids for the same volume.\nThis lifted the bid-to-cover ratio to 1.3 times from 1.17 times a week earlier. The BSP awarded its full P70-billion offer.\nAccepted rates ranged from 4.6% to 4.715%, slightly narrower than 4.495% to 4.728% a week earlier. The weighted average rate rose to 4.6651% from 4.6483%.\nThe BSP has not offered 56-day bills since Nov. 3.\nThe central bank uses its securities and term deposit facility to absorb excess liquidity and guide short-term rates toward its policy rate. BSP bills also help improve price discovery and strengthen monetary policy transmission.\nThe BSP started weekly issuances in 2020, initially with 28-day bills, later adding 56-day debt in 2023 before scaling back to a single tenor.\nAs of mid-February, BSP liquidity operations have withdrawn about P1.2 trillion from the financial system, mainly through reverse repurchase operations, term deposits and BSP securities. \u2014 Katherine K. Chan", "date_published": "2026-05-18T00:02:29+08:00", "date_modified": "2026-05-17T19:34:12+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2024/05/BSP-building.jpg", "tags": [ "Katherine K. Chan", "Banking & Finance" ] }, { "id": "/?p=750175", "url": "/banking-finance/2026/05/18/750175/metrobank-sees-slower-asset-growth-steady-profit-outlook/", "title": "Metrobank sees slower asset growth, steady profit outlook", "content_html": "METROPOLITAN BANK & Trust Co. (Metrobank) expects asset growth to ease to single digits as weaker consumer demand drags expansion, even as higher interest rates support margins.
\n\u201cWe\u2019re seeing GDP (gross domestic product) lower than expected, so asset growth will likely be in single digits rather than double digits,\u201d Fernand Antonio Tansingco, Metrobank financial markets sector head, said at a Philippine Stock Exchange event last week
\nHe said higher rates should help profitability, with the bank expecting at least two more 25-basis-point increases this year that could push policy rates above 5%.
\nMetrobank said it could still meet earnings targets if credit quality holds, noting its loan book remains strong. Net interest margin is expected to rise by just under 5 bps for every 25-bp rate hike.\u00a0\u2014 AMCS
\n", "content_text": "METROPOLITAN BANK & Trust Co. (Metrobank) expects asset growth to ease to single digits as weaker consumer demand drags expansion, even as higher interest rates support margins.\n\u201cWe\u2019re seeing GDP (gross domestic product) lower than expected, so asset growth will likely be in single digits rather than double digits,\u201d Fernand Antonio Tansingco, Metrobank financial markets sector head, said at a Philippine Stock Exchange event last week\nHe said higher rates should help profitability, with the bank expecting at least two more 25-basis-point increases this year that could push policy rates above 5%.\nMetrobank said it could still meet earnings targets if credit quality holds, noting its loan book remains strong. Net interest margin is expected to rise by just under 5 bps for every 25-bp rate hike.\u00a0\u2014 AMCS", "date_published": "2026-05-18T00:01:29+08:00", "date_modified": "2026-05-18T10:22:48+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2024/02/Metrobank.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "id": "/?p=749855", "url": "/banking-finance/2026/05/15/749855/bdo-expects-loan-growth-asset-quality-hit-from-war-driven-inflation-spike/", "title": "BDO expects loan growth, asset quality hit from war-driven inflation spike", "content_html": "BDO UNIBANK, Inc. expects its loan growth to stay strong this year, but the risk that inflation will stay elevated for long due to the Middle East conflict could dent credit demand and asset quality.
\n\u201cSo, in a nutshell, what we\u2019d like to emphasize is that while the environment has been volatile and difficult to predict, our balance sheet continues to show good growth… We hope that we can continue with the loan growth, although we recognize that if inflation persists longer, there is the risk that we may see growth slowing down at some point. That could also translate into potential challenges for asset quality,\u201d BDO Executive Vice-President and Investor Relations and Corporate Planning Head Luis S. Reyes, Jr. said at the virtual PSE STAR: Investor Day event on Thursday.
\n\u201cBut at this stage, we are not seeing that yet.\u201d
\nBDO\u2019s gross loans rose by 16% year on year to P3.77 trillion at end-March from P3.26 trillion amid double-digit growth across all market segments, it said last month.
\nThe bank also hopes to sustain the fast growth in its low-cost current account, savings account (CASA) deposits seen in the first quarter. Total deposits rose by 15% to P4.429 trillion as of March from P3.847 trillion. Of this, P2.906 trillion were CASA deposits, up from P2.704 trillion in the prior year.
\n\u201cHistorically, we were seeing CASA growing in the mid-single digits. What we\u2019re seeing now is a slightly better growth trajectory. We\u2019re hoping that this is something we can continue with, given our strategy of opening more branches, complemented by our digital capabilities,\u201d Mr. Reyes said.
\nMeanwhile, the second half of the year could be \u201ca bit more difficult to predict\u201d as forecasts will depend largely on developments in the Middle East and their impact on global oil prices that could stoke Philippine inflation and hit consumer spending.
\n\u201cSo far, the good news is that consumption… will show positive growth, even though it\u2019s at a decelerated trend.\u201d
\nMr. Reyes added the bank has enough provisions for an expected increase in nonperforming loans due to the conflict, as they already saw an uptick in bad debt in the first quarter as its consumer business continued to grow.
\n\u201cWe are focusing more on cross-selling our consumer lending to existing bank clients, which we believe is also what is helping us sustain our asset quality where they are today,\u201d he said. \u201cUsing our data analytics capabilities, we are mining our depositor base, checking how our depositors are actually showing capacity to pay, and therefore could be eligible for additional consumer products.\u201d
\nBDO will also increase its loan loss provisioning if inflation stays red-hot.
\n\u201cGiven how we see things developing, that may move us to continue strengthening this buffer until we feel that it may be sufficient to cover our potential losses going forward. So, it really depends on how we see our clients behaving over the next few months.\u201d
\nLoan loss provisioning stood at P6.1 billion in the first quarter, more than double the P3 billion a year ago.
\nMeanwhile, the bank also wants its loan book to be equally spread among institutional, consumer, and the middle market segments. At present, 25% of their portfolio is made up of consumer loans, Mr. Reyes said.
\n\u201cOur ambition is to have an equal split of the loan book among the three sectors: large corporates, middle market, and consumer. The consumer book has been steadily increasing its share of the pie \u2014 maybe somewhere between 80 to 100 basis points a year. At that pace, it\u2019s going to be a slow growth towards our target share of one third of the total.\u201d
\nThe lender also expects to finish the overhaul of its IT system within two to three years as it looks to improve its digital services, he said.
\nBDO\u2019s net profit grew by 2% to P20.1 billion in the first quarter from P19.7 billion in the same period last year.
\nIts shares dropped by P2 or P1.64 to end at P120 each on Thursday. \u2014 Aaron Michael C. Sy
\n", "content_text": "BDO UNIBANK, Inc. expects its loan growth to stay strong this year, but the risk that inflation will stay elevated for long due to the Middle East conflict could dent credit demand and asset quality.\n\u201cSo, in a nutshell, what we\u2019d like to emphasize is that while the environment has been volatile and difficult to predict, our balance sheet continues to show good growth… We hope that we can continue with the loan growth, although we recognize that if inflation persists longer, there is the risk that we may see growth slowing down at some point. That could also translate into potential challenges for asset quality,\u201d BDO Executive Vice-President and Investor Relations and Corporate Planning Head Luis S. Reyes, Jr. said at the virtual PSE STAR: Investor Day event on Thursday.\n\u201cBut at this stage, we are not seeing that yet.\u201d\nBDO\u2019s gross loans rose by 16% year on year to P3.77 trillion at end-March from P3.26 trillion amid double-digit growth across all market segments, it said last month.\nThe bank also hopes to sustain the fast growth in its low-cost current account, savings account (CASA) deposits seen in the first quarter. Total deposits rose by 15% to P4.429 trillion as of March from P3.847 trillion. Of this, P2.906 trillion were CASA deposits, up from P2.704 trillion in the prior year.\n\u201cHistorically, we were seeing CASA growing in the mid-single digits. What we\u2019re seeing now is a slightly better growth trajectory. We\u2019re hoping that this is something we can continue with, given our strategy of opening more branches, complemented by our digital capabilities,\u201d Mr. Reyes said.\nMeanwhile, the second half of the year could be \u201ca bit more difficult to predict\u201d as forecasts will depend largely on developments in the Middle East and their impact on global oil prices that could stoke Philippine inflation and hit consumer spending.\n\u201cSo far, the good news is that consumption… will show positive growth, even though it\u2019s at a decelerated trend.\u201d\nMr. Reyes added the bank has enough provisions for an expected increase in nonperforming loans due to the conflict, as they already saw an uptick in bad debt in the first quarter as its consumer business continued to grow.\n\u201cWe are focusing more on cross-selling our consumer lending to existing bank clients, which we believe is also what is helping us sustain our asset quality where they are today,\u201d he said. \u201cUsing our data analytics capabilities, we are mining our depositor base, checking how our depositors are actually showing capacity to pay, and therefore could be eligible for additional consumer products.\u201d\nBDO will also increase its loan loss provisioning if inflation stays red-hot.\n\u201cGiven how we see things developing, that may move us to continue strengthening this buffer until we feel that it may be sufficient to cover our potential losses going forward. So, it really depends on how we see our clients behaving over the next few months.\u201d\nLoan loss provisioning stood at P6.1 billion in the first quarter, more than double the P3 billion a year ago.\nMeanwhile, the bank also wants its loan book to be equally spread among institutional, consumer, and the middle market segments. At present, 25% of their portfolio is made up of consumer loans, Mr. Reyes said.\n\u201cOur ambition is to have an equal split of the loan book among the three sectors: large corporates, middle market, and consumer. The consumer book has been steadily increasing its share of the pie \u2014 maybe somewhere between 80 to 100 basis points a year. At that pace, it\u2019s going to be a slow growth towards our target share of one third of the total.\u201d\nThe lender also expects to finish the overhaul of its IT system within two to three years as it looks to improve its digital services, he said.\nBDO\u2019s net profit grew by 2% to P20.1 billion in the first quarter from P19.7 billion in the same period last year.\nIts shares dropped by P2 or P1.64 to end at P120 each on Thursday. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-15T00:08:03+08:00", "date_modified": "2026-05-14T19:56:29+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/12/bdo-atm-machinejpg-e1686221268589.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=749854", "url": "/banking-finance/2026/05/15/749854/security-bank-profit-slips-to-p2-7-biliion-in-q1/", "title": "Security Bank profit slips to P2.7 biliion in Q1", "content_html": "SECURITY Bank Corp. recorded a 4% decline in its first-quarter net profit as it booked trading and foreign exchange (FX) losses due to market volatility and also set aside more provisions amid the Middle East conflict.
\nThe bank\u2019s attributable net income went down to P2.704 billion in the period from P2.82 billion a year ago, it said in a disclosure to the stock exchange on Thursday.
\nThis translated to a return on average assets of 0.9% and a return of average equity of 7.03%, down from the previous year\u2019s 1.01% and 7.92%, respectively.
\n\u201cWe had a solid start to the year, driven by stronger core earnings and disciplined cost management. We remain focused on sustaining operational discipline, growing responsibly, and making banking simpler, faster, and more responsive for our customers,\u201d Security Bank President and Chief Executive Officer Victor Lee Meng Teck said.
\nNet interest income climbed by 27.61% to P15.16 billion from P11.88 billion a year ago, mainly driven by higher interest earnings on loans as its credit cards, time loan, auto loan and home loan portfolios grew.
\nNet interest margin rose to 5.36% from 4.51% a year ago.
\nMeanwhile, other income declined to P1.9 billion in the quarter from P3.5 billion last year.
\nThis was mainly due to the P712.48-million net trading and securities loss and the P977.55-million net FX loss it booked in the period amid unfavorable market movements during the period influenced by geopolitical developments.
\nService charges, fees, and commissions also dropped to P2.06 billion in the quarter from P2.16 billion in the same period last year.
\nStill, total operating income grew by 10.48% year on year to P17.03 billion.
\nMeanwhile, Security Bank\u2019s operating expenses went up by 14.36% to P13.4 billion in the first three months from P11.72 billion in the same period last year, driven mainly by a 63.2% increase in loan loss provisions to P3.88 billion from P2.38 billion, which it said is part of its \u201cprudent risk management approach amid evolving operating conditions.\u201d
\nIt said its pre-provision operating profit rose 24% year on year to P7.5 billion.
\nThe bank\u2019s cost-to-income ratio improved to 55.89% from 60.59% a year ago.
\nNet loans stood at P679.44 billion at end-March, up 5% year on year, supported by efforts to rebalance its portfolio towards higher-quality segments, it said.
\n\u201cAsset quality metrics remain manageable, with gross nonperforming loan (NPL) ratio at 3.08% and NPL reserve cover at 81%.\u201d
\nOn the funding side, total deposits were at P937.98 billion, rising by 12% year on year. Current account, savings account deposits grew by 13%, comprising 51% of the total.
\nIts net loans-to-deposit ratio was at 72.44%.
\nSecurity Bank\u2019s assets stood at P1.22 trillion as of March, up from P1.19 trillion at end-2025 and also rising by 10% year on year.
\nMeanwhile, total equity edged down to P153.48 billion from P154.23 billion at end-2025, but was up 7% from the prior year.
\nSecurity Bank\u2019s common equity Tier 1 ratio was at 12.2%, while total capital adequacy ratio stood at 13.09%.
\n\u201cThe bank maintains healthy liquidity, with liquidity coverage ratio at 198% and net stable funding ratio at 145% as of March 31.\u201d
\nSecurity Bank shares rose by 65 centavos or 1% to close at P65.75 each on Thursday. \u2014 A.M.C. Sy
\n", "content_text": "SECURITY Bank Corp. recorded a 4% decline in its first-quarter net profit as it booked trading and foreign exchange (FX) losses due to market volatility and also set aside more provisions amid the Middle East conflict.\nThe bank\u2019s attributable net income went down to P2.704 billion in the period from P2.82 billion a year ago, it said in a disclosure to the stock exchange on Thursday.\nThis translated to a return on average assets of 0.9% and a return of average equity of 7.03%, down from the previous year\u2019s 1.01% and 7.92%, respectively.\n\u201cWe had a solid start to the year, driven by stronger core earnings and disciplined cost management. We remain focused on sustaining operational discipline, growing responsibly, and making banking simpler, faster, and more responsive for our customers,\u201d Security Bank President and Chief Executive Officer Victor Lee Meng Teck said.\nNet interest income climbed by 27.61% to P15.16 billion from P11.88 billion a year ago, mainly driven by higher interest earnings on loans as its credit cards, time loan, auto loan and home loan portfolios grew.\nNet interest margin rose to 5.36% from 4.51% a year ago.\nMeanwhile, other income declined to P1.9 billion in the quarter from P3.5 billion last year.\nThis was mainly due to the P712.48-million net trading and securities loss and the P977.55-million net FX loss it booked in the period amid unfavorable market movements during the period influenced by geopolitical developments.\nService charges, fees, and commissions also dropped to P2.06 billion in the quarter from P2.16 billion in the same period last year.\nStill, total operating income grew by 10.48% year on year to P17.03 billion.\nMeanwhile, Security Bank\u2019s operating expenses went up by 14.36% to P13.4 billion in the first three months from P11.72 billion in the same period last year, driven mainly by a 63.2% increase in loan loss provisions to P3.88 billion from P2.38 billion, which it said is part of its \u201cprudent risk management approach amid evolving operating conditions.\u201d\nIt said its pre-provision operating profit rose 24% year on year to P7.5 billion.\nThe bank\u2019s cost-to-income ratio improved to 55.89% from 60.59% a year ago.\nNet loans stood at P679.44 billion at end-March, up 5% year on year, supported by efforts to rebalance its portfolio towards higher-quality segments, it said.\n\u201cAsset quality metrics remain manageable, with gross nonperforming loan (NPL) ratio at 3.08% and NPL reserve cover at 81%.\u201d\nOn the funding side, total deposits were at P937.98 billion, rising by 12% year on year. Current account, savings account deposits grew by 13%, comprising 51% of the total.\nIts net loans-to-deposit ratio was at 72.44%.\nSecurity Bank\u2019s assets stood at P1.22 trillion as of March, up from P1.19 trillion at end-2025 and also rising by 10% year on year.\nMeanwhile, total equity edged down to P153.48 billion from P154.23 billion at end-2025, but was up 7% from the prior year.\nSecurity Bank\u2019s common equity Tier 1 ratio was at 12.2%, while total capital adequacy ratio stood at 13.09%.\n\u201cThe bank maintains healthy liquidity, with liquidity coverage ratio at 198% and net stable funding ratio at 145% as of March 31.\u201d\nSecurity Bank shares rose by 65 centavos or 1% to close at P65.75 each on Thursday. \u2014 A.M.C. Sy", "date_published": "2026-05-15T00:07:02+08:00", "date_modified": "2026-05-14T19:56:03+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/10/Security-Bank.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=749748", "url": "/banking-finance/2026/05/15/749748/political-noise-drags-peso-to-new-all-time-low/", "title": "Political noise drags peso to new all-time low", "content_html": "THE PESO dropped to a new all-time low against the greenback on Thursday as political concerns at home and rising US Federal Reserve rate hike odds weighed on sentiment.
\nThe currency sank by 26 centavos to close at P61.64 per dollar from P61.38 on Wednesday, according to Bankers Association of the Philippines data posted on its website.
\nThis beat the previous record close of P61.567 on April 30.
\nYear to date, the peso has depreciated by 4.62% or P2.85 from its end-2025 finish of P58.79.
\nThe currency opened Thursday\u2019s session slightly stronger at P61.35 a dollar, which was also its intraday best. Meanwhile, its worst showing was at P61.66 against the greenback.
\nDollars traded dropped to $1.58 billion from $1.8 billion in the previous session.
\n\u201cThe peso is no longer reacting to just a strong dollar and high US rates. Today\u2019s move suggests markets are also pricing in a higher political and uncertainty premium, especially as the peso underperformed regional peers,\u201d the first trader said in a Viber message.
\nThe Philippine Senate president said on Thursday that the lawmaker wanted by the International Criminal Court, Ronald dela Rosa, was no longer in the Senate building, Reuters reported.
\nMr. dela Rosa, the former national police chief and top enforcer of ex-President Rodrigo Duterte\u2019s bloody \u201cwar on drugs,\u201d had been under Senate protection and is wanted for crimes against humanity, the same charges Mr. Duterte is accused of.
\nMeanwhile, the House of Representatives earlier this week impeached Vice-President Sara Duterte-Carpio. The Senate is expected to convene as an impeachment court on May 18.
\n\u201cThe dollar-peso ended higher on peso weakness amid rising political tensions, alongside reinforced hawkish Fed bets after hotter-than-expected US producer price inflation data overnight,\u201d a second trader said by phone.
\n\u201cThe peso reached record lows after the stronger than expected US producer inflation report\u00a0 amplified views that the Federal Reserve might not be able to deliver rate cuts this year despite Kevin Warsh\u2019s confirmation as the next US central bank chairman, replacing Jerome Powell,\u201d a third trader said in an e-mail.
\nChristopher Wong, FX strategist at OCBC Group Research, said in a note that the peso continued to be pressured by weakening economic fundamentals due to elevated oil prices, citing the weaker than expected first quarter economic growth and faster than expected April inflation figures.
\nHe added this \u201cleaves the Bangko Sentral ng Pilipinas (BSP) facing an uncomfortable inflation-growth trade-off.\u201d
\n\u201cPolitical noise may also be adding a layer of caution at a time when oil, rates and risk-off dynamics are already unfavorable,\u201d Mr. Wong said.
\nFor Friday, the second trader said the peso could test the P61.75 mark, which is the lowest level it has touched so far, adding that trading could be driven by the outcome of the meeting between US President Donald J. Trump and China President Xi Jinping and scheduled US data releases, including initial jobless claims and retail sales data.
\nThe third trader said the peso could move between P61.50 and P61.75 against the dollar on Friday due to a likely weaker US retail sales report overnight.
\nThe first trader said the peso could test the P62 level in the near term if volatility persists and if risk sentiment deteriorates further, but added that the BSP still has enough credibility and reserves to prevent disorderly swings. \u2014 Aaron Michael C. Sy
\n", "content_text": "THE PESO dropped to a new all-time low against the greenback on Thursday as political concerns at home and rising US Federal Reserve rate hike odds weighed on sentiment.\nThe currency sank by 26 centavos to close at P61.64 per dollar from P61.38 on Wednesday, according to Bankers Association of the Philippines data posted on its website.\nThis beat the previous record close of P61.567 on April 30.\nYear to date, the peso has depreciated by 4.62% or P2.85 from its end-2025 finish of P58.79.\nThe currency opened Thursday\u2019s session slightly stronger at P61.35 a dollar, which was also its intraday best. Meanwhile, its worst showing was at P61.66 against the greenback.\nDollars traded dropped to $1.58 billion from $1.8 billion in the previous session.\n\u201cThe peso is no longer reacting to just a strong dollar and high US rates. Today\u2019s move suggests markets are also pricing in a higher political and uncertainty premium, especially as the peso underperformed regional peers,\u201d the first trader said in a Viber message.\nThe Philippine Senate president said on Thursday that the lawmaker wanted by the International Criminal Court, Ronald dela Rosa, was no longer in the Senate building, Reuters reported.\nMr. dela Rosa, the former national police chief and top enforcer of ex-President Rodrigo Duterte\u2019s bloody \u201cwar on drugs,\u201d had been under Senate protection and is wanted for crimes against humanity, the same charges Mr. Duterte is accused of.\nMeanwhile, the House of Representatives earlier this week impeached Vice-President Sara Duterte-Carpio. The Senate is expected to convene as an impeachment court on May 18.\n\u201cThe dollar-peso ended higher on peso weakness amid rising political tensions, alongside reinforced hawkish Fed bets after hotter-than-expected US producer price inflation data overnight,\u201d a second trader said by phone.\n\u201cThe peso reached record lows after the stronger than expected US producer inflation report\u00a0 amplified views that the Federal Reserve might not be able to deliver rate cuts this year despite Kevin Warsh\u2019s confirmation as the next US central bank chairman, replacing Jerome Powell,\u201d a third trader said in an e-mail. \nChristopher Wong, FX strategist at OCBC Group Research, said in a note that the peso continued to be pressured by weakening economic fundamentals due to elevated oil prices, citing the weaker than expected first quarter economic growth and faster than expected April inflation figures.\nHe added this \u201cleaves the Bangko Sentral ng Pilipinas (BSP) facing an uncomfortable inflation-growth trade-off.\u201d\n\u201cPolitical noise may also be adding a layer of caution at a time when oil, rates and risk-off dynamics are already unfavorable,\u201d Mr. Wong said.\nFor Friday, the second trader said the peso could test the P61.75 mark, which is the lowest level it has touched so far, adding that trading could be driven by the outcome of the meeting between US President Donald J. Trump and China President Xi Jinping and scheduled US data releases, including initial jobless claims and retail sales data.\nThe third trader said the peso could move between P61.50 and P61.75 against the dollar on Friday due to a likely weaker US retail sales report overnight.\nThe first trader said the peso could test the P62 level in the near term if volatility persists and if risk sentiment deteriorates further, but added that the BSP still has enough credibility and reserves to prevent disorderly swings. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-15T00:06:47+08:00", "date_modified": "2026-05-14T19:55:39+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/03/Peso-currency-philstar-1.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks", "One News", "大象传媒" ] } ] }