Philippines

Filipinos scored an all-time high of 52.6 out of a possible 100 points in the latest Citi Financial Quotient Survey.

Credit standards for loans given to businesses remain unchanged but standards to household have eased slightly.

All Citibank credit cardholders get a free bottle of award winning wine everytime they use cards to pay.

Rizal Commercial Banking Corp.'s income grew 35 percent year-on-year in the first semester to P3.01 billion or US$71.95 milllion.

Moody’s expects regulations encouraging consolidations in the smaller sector of the Philippine banking industry to improve the credit standing of big banks.

Total outstanding loans among Philippine banks grew 14.9 percent to P2.95 trillion at the end of the first semester.

Philippine banking sector's exposure to failure due to excessive lending remained low, according to Fitch.

BDO will establish a US$2 billion Euro Medium Term Note program and to retire P10 Billion of Tier 2 debt by November 2012.

The Philippine central bank said a bill will be filed in the country’s Congress to reduce the clearing time for checks to just one day.

BDO Unibank, the Philippines’ largest bank in terms of assets, looks to lower funding costs.

Security Bank has expanded its branch network and has put up Security Bank Savings.

Expansion in various industries pushed Security Bank's loan portfolio up by 29 percent in the first half of 2012.

The Philippines’ oldest and third largest bank by assets reported a 52% jump in net income during the first half.

The Philippine Deposit Insurance Corp. has approved the merger of Philippine National Bank and Allied Banking Corp.

Polaris Financial Technology successfully implemented its state of the art Intellect Core Banking Solution at MAXBANK.

The Philippine Savings Bank reported an earnings increase of 50 percent year-on-year to P1.38 billion in the first half.