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Articles


Banking system sound, boosts domestic economy

With the country’s macroeconomic fundamentals remaining strong, the Philippine banking system had shown sustained growth in the first semester of this year, the Bangko Sentral ng Pilipinas (BSP) said in its enhanced report of the Philippine financial system for the same period. “The Philippine financial system, with the banking system at its core, continues to provide financial intermediation to further boost the domestic economy,” the report said. This growth, according to the report, is in addition to the proactive implementation of financial sector reforms, strong macroeconomic fundamentals and positive investor sentiment. It said while the …


PSE buys 23.8% BAP stake in PDS for P476.45 million

The Philippine Stock Exchange (PSE) has signed a new Share Purchase Agreement for the acquisition of the PDS Holdings Corporation stake of the Bankers Association of the Philippines (BAP), BAP Credit Bureau, certain member banks and other banks. In a disclosure to the Philippine Stock Exchange, the PSE said they have agreed on the sale of 1.48 million PDS shares equivalent to 23.8 percent of the total issued and outstanding stock of the firm that owns the fixed income bourse. However, the purchase shall be subject to the approval of government agencies, particularly the Securities …