AMA Bank Seeks Clarification from BSP Following Contradictory Statements on Reopening and Depositor Payments

MANILA - In response to the Bangko Sentral ng Pilipinas’ (BSP) press release titled Statement on AMA Bank Case issued on January 30, 2025, AMA Rural Bank of Mandaluyong, Inc. (AMA Bank) seeks clarification on BSP’s position regarding its pending second Motion for Reconsideration with the Supreme Court and the bank’s reopening.

BSP wins award for coin deposit machine project

BSP's Coin Deposit Machine (bsp.gov.ph)

THE BANGKO Sentral ng Pilipinas (BSP) said on Wednesday it has received an award from the International Association of Currency Affairs (IACA) for its Coin Deposit Machine (CoDM) project.

New Clark City 'very attractive' investment hub

SPECIAL ASSISTANT to the President for Investment and Economic Affairs Secretary Frederick Go said New Clark City, the Bases Conversion and Development Authority's flagship project, is a "very attractive" investment hub for certain sectors.

PH records $103.4B foreign reserves in April

THE PHILIPPINES' gross international reserves (GIR) settled at USD103.4 billion as of the end of April this year, the Bangko Sentral ng Pilipinas (BSP).

Retail sector sees continued price stability in consumer goods

A SUPERMARKET industry leader said it is unlikely that consumers will see a significant change in the prices of most basic commodities this month as long as there are no unforeseen additions to the costs of manufacturers and retailers.

Hot money inflows hit $377-M in Q1

FOREIGN PORTFOLIO investments or hot money registered with the Bangko Sentral ng Pilipinas (BSP) through authorized banks, recorded net inflows of USD377 million in the first quarter of the year.

Over $700M invested in PH digital banking sector

THE PHILIPPINE digital banking sector already received more than USD700 million investments from global and local investors since 2021.

PH hits record-high goods, services exports in 2023 at $104B

DESPITE GLOBAL trade challenges, Philippine exports surpassed the USD100-billion mark in 2023, an all-time high revenue for the country’s outbound trade.

OFW remittances hit all-time high in 2023

PERSONAL REMITTANCES from Filipinos abroad reached an all-time high last year on the back of the increased deployment of overseas workers, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.

FDI net inflows up by 27% in November

THE NET inflow of foreign direct investments (FDIs) went up by 27.8 percent in November last year.

Landbank-DBP merger to be completed first half of 2024

THE COMPLETION of the planned merger between the Land Bank of the Philippines (Landbank) and the Development Bank of the Philippines (DBP) is expected to be completed in the first half of 2024, Department of Finance (DOF) Secretary Benjamin Diokno said.

Be wary of online loan sharks, solon warns

A LEGISLATOR on Sunday warned the public not to patronize online lending applications as they do more damage than help people who need financial assistance.

BSP cuts remittance growth forecast to 2%

PHILIPPINE MONETARY officials further reduced their growth projection for inflows from overseas Filipino workers (OFWs) this year to two percent due to the impact of the global pandemic.