Banco Filipino asks Court of Appeals to issue TRO
It seems that Banco Filipino hasn’t given up on its fight yet because it has asked Court of Appeals to issue a temporary restraining order (TRO) on the closure order issued by the Bangko Sentral ng Pilipinas (BSP) last week. Banco Filipino vice chairman Perfecto Yasay said they have filed a petition for certiorari with [...]
March 21, 2011
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Roy · 
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Tags: Banco Filipino, banking, Banks, BSP, Central Bank, insolvency, Monetary Board, money, PDIC, Peso, Philippine, receivership · Posted in: banking, economy, finance, Government, Law, money, Philippine banks, Philippine business news, Philippines
Banco Filipino went on bank holiday, blames BSP
The Banco Filipino Savings and Mortgage Bank went on a bank holiday yesterday, which brought concerns to its depositors who were not aware of what was happening with their bank. The thrift bank has been encountering heavy withdrawals lately as many of its clients were worried about its financial health. Banco Filipino currently has about [...]
March 15, 2011
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Tags: Banco Filipino, bank holiday, bank run, Banks, BSP, Central Bank, finance, Monetary Board, overdraft, Philippine Bank · Posted in: banking, Consumers, economy, finance, Philippine business news, Philippines
Yuan-denominated products offered in BPI
Major banks in the Philippines are now offering yuan-denominated savings accounts. The latest to join the ranks of local banks who offer these products is the Bank of the Philippine Islands. The yuan or Renmibi products of BPI would be opened in the first week of the new Chinese New Year of the Metal Tiger. [...]
February 14, 2010
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Tags: Banks, Chinese currency, Foreign exchange, money, Philippines, Renminbi, yuan · Posted in: banking, Corporations, Customer Service, economy, finance, Foreign exchange, International relations, money, Philippine banks, Philippine business news, Philippines, Products
BancNet members reached 59 in 2009
The number of members in BancNet has reached 59 at the end of 2009. Last year, BancNet welcomed into its roster 10 new members, these are: Philippine National Bank (PNB), Equicom Savings Bank, Maybank Philippines, China Bank Savings, Wealth Bank, Entrepreneur Bank, Optimum Development Bank, Rural Bank of Dulag, Gubat St. Anthonry Cooperative and News [...]
February 2, 2010
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Tags: ATMs, BancNet, banking, Banks, cashless shopping, money, network, Philippines · Posted in: Announcement, banking, communications, Consumers, e-commerce, economy, finance, innovation, money, Philippine banks, Products
Republic Act 9505 or the PERA Act of 2008
A new law that hopes to encourage Filipinos to invest more of their savings in high yield products has been signed recently. The PERA Law or Personal Equity and Retirement Account will be implemented by the Bangko Sentral ng Pilipinas (BSP) next year. BSP Governor Amando M. Tetangco Jr., one of the signatories of the [...]
October 22, 2009
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Tags: Banks, Business, Filipino, finance, investments, money, OFWs, PERA Law of 2008, Philippines, RA 9505, Republic Act 9505, shares of stocks · Posted in: Announcement, banking, finance, Government, investments, money, Philippine business news, Philippines
Globe puts up first mobile microfinance bank
Globe Telecommunications, Inc., together with sister company Ayala Corp., is all set to put up the Philippine’s first mobile microfinance banking unit. That is because the Banko Sentral ng Pilipinas approved the Globe and Ayala’s entry into the banking industry. The new bank, will be called “BPI Globe Banko, A Savings Bank” will be using [...]
October 12, 2009
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Tags: Ayala, Banks, BPI, BPI Globe Banko, BSP, Business, business loans, capitalization, entrepreneur, financing, funds sources, Globe, Loans, microfinancing, mobile financing, NGOs, Philippines, SMEs · Posted in: Announcement, banking, Employment, finance, investments, Loans, money, Philippine banks, Philippine business news, Philippines
BSP okay with “Money Laundering”
Only because of the aftermath of Tropical Storm Ondoy, the Bangko Sentral ng Pilipinas permits banks to do “Money Laundering” operations. Of course, money laundering here does not refer to those wealth which came from questionable sources. When BSP gave a go signal to money laundering, it refers to changing those soiled bills where were [...]
October 9, 2009
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Tags: Bangko Central ng Pilipinas, Banks, BSP, calamity, flash flood, money laundering, new bills, Ondoy, Peso, Philippine, Philippine currency, replacement · Posted in: Announcement, banking, Government, money, Philippine banks, Philippine business news, Philippines
