The Bankers Association of the Philippines (BAP), the lead organization of universal and commercial banks in the Philippines, reported that local automated teller machine (ATM) density in the Philippines stood only at half compared to other ASEAN countries. The bankers group estimates that only 21,000 ATMs service 58 million cardholders nationwide, which is equivalent to 20 ATMs per capita of 100,000 cardholders. Meanwhile, countries such as Thailand has 94, Singapore has 49, Malaysia has 45, and Indonesia has 40 ATMs per capita of 100,000 cardholders, respectively. According to the BAP, the moratorium on ...
Read moreThe Bankers Association of the Philippines (BAP), in collaboration with the World Wide Fund (WWF) for Nature, with support from the German Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), Association of Development Banks for the Asia and Pacific (ADFIAP) and United Nations Economic and Social Commission for Asia and Pacific (UNESCAP), encouraged banks to incorporate environmental, social and governance (ESG) and sustainability principles into their corporate strategy, risk management and bank operations framework. At the Second Sustainable Finance Forum, held at the Manila Peninsula Hotel last October 9, 2019, BAP President ...
Read moreThe country’s banks remain strong and in the pink of financial health as lending activities continue to show efficiency, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. WITH THIS MUCH ADDITIONAL LIQUIDITY IN THE FINANCIAL SYSTEM, CONSUMPTION, AS WELL AS BORROWING AND LENDING ACTIVITIES ARE SEEN TO EXPAND FURTHER “The continued strong credit activities demonstrate the effectiveness of Philippine banks in their role as intermediator of funds in the economy,” Diokno said at the European Chamber of Commerce luncheon meeting in Makati City on Tuesday. “Banks remain sufficiently capitalized and past due ratios have ...
Read moreMANILA, Philippines — Philippine banks continue to step up their campaign against cybercrime in support of the efforts of the Bangko Sentral ng Pilipinas (BSP) to strengthen the industry’s resilience to cyberattacks. The Bankers Association of the Philippines (BAP) launched its online campaign Be Aware, Be Cybersafe to help raise public awareness on cybersecurity amid growing concerns of cyberattackers shifting their focus to the Asia-Pacific region. BAP president Cezar Consing said the campaign is the group’s way of raising awareness and partnering with the general public to prevent cybercrimes. “The world is so wired now ...
Read moreTransactions under the automated clearing houses strategically formed to drive up cashless transactions in the country breached the P100 billion level in end-June as the government hopes to raise the share of digital payments to 20 percent by next year. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed transactions under the PESONet (Philippine EFT System and Operations Network) and InstaPay reached P109 billion in end-June. The value of transactions of PESONet that allows fund transfer processed in bulk and cleared at batch intervals from one account to one or several accounts maintained in ...
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