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Dec 13 2020 BSP likely to keep rates steady — poll
THE CENTRAL BANK is likely to keep its key policy rates at the record low levels on Thursday, as it considers the recent uptick in the country’s inflation rate, according to analysts.
With recovery prospects remaining bleak in the fourth quarter, analysts expect the Bangko Sentral ng Pilipinas (BSP) to resume policy rate cuts as early…
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Dec 13 2020 RCBC Becomes the Latest Addition to the ASEAN Financial Innovation Network
The ASEAN Financial Innovation Network (AFIN) has announced the inclusion of Rizal Commercial Banking Corporation (RCBC) among the four new members of the API Exchange during the Singapore FinTech Festival 2020.
AFIN was established as a non-profit organisation in 2018 by the ASEAN Bankers Association (ABA), International Finance Corporation (IFC), a member of the World Bank Group, and…
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Dec 12 2020 BIR, BOC ramp up digitalization projects
The Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) have put their respective digital transformation programs on the fast lane this year even amid the COVID-19 pandemic to further improve tax administration for the benefit of taxpayers and raise the collection efficiency of these agencies.
In separate reports to Finance Secretary Carlos Dominguez III…
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Dec 12 2020 Huawei paves new economic boom in 2021 with fintech and cloud innovations
As a self-made global leader in technology, Huawei has been championing Asian growth in internet-based technologies such as 5G, the cloud, and artificial intelligence (AI) which have become increasingly vital to business in anticipation of the economic turnaround expected in 2021.
Following the unprecedented events of 2020 which caused a massive slump in economies worldwide, sectors…
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Dec 12 2020 BSP tightens reserve rules for lenders
The central bank has set a limit on the amount of loans to small and large businesses that lenders can count as part of their reserve requirement compliance, Governor Benjamin E. Diokno said on Friday.
In a statement, Mr. Diokno said total loans to micro-, small- and medium-sized enterprises (MSME) and large enterprises counted as alternative…
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Dec 12 2020 ASEAN Financial Innovation Network welcomes RCBC membership in API Exchange
The ASEAN Financial Innovation Network (AFIN) welcomed the inclusion of the country’s most innovative bank, RCBC among the four new members of the API Exchange of the ASEAN Financial Innovation Network (AFIN) during the Singapore FinTech Festival.
AFIN was established as a non-profit organization in 2018 by the ASEAN Bankers Association (ABA), International Finance Corporation (IFC),…
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Dec 12 2020 DigiBankASIA Taps Backbase for Its Prospective Digital Bank UNO
Backbase, a banking software provider, has been selected by DigiBankASIA to offer its full-stack digital engagement banking platform solution for its digital bank UNO.
Together with ecosystem partners Mambu and Amazon Web Services (AWS), Backbase is powering UNO to deliver a full spectrum of digital financial services for its initial launch in the Philippines.
Jouk Pleiter, CEO and Founder…
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Dec 10 2020 Slump to slash bank revenues, RCBC exec says
WITH the economy still slow to recover from the lockdown measures against an infectious virus, a bank executive believes financial intermediaries will continue to face challenges in the coming years, including revenue cuts.
Rizal Commercial Banking Corp. (RCBC) President and CEO Eugene S. Acevedo said that the current economic slump will still affect operations and financial…
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Dec 10 2020 RCBC sees prolonged virus hit
RIZAL COMMERCIAL Banking Corp. (RCBC) sees continued asset quality risks as the challenging environment may persist for both consumers and businesses in 2021.
“Consumer loans will grow slowly compared to the past years. Customers whose incomes have been affected have started to become more conservative and understandably so,” RCBC President and Chief Executive Officer Eugene S.…
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Dec 09 2020 Enacting CREATE into law to help PH economy recover
Trade officials believe that the enactment of the CREATE bill into law will usher the country’s economic recovery next year.
Department of Trade and Industry (DTI) Secretary Ramon Lopez said that as the government will continue to implement its recovery plan next year, signing the CREATE bill into law is vital as this defines the country’s…