News

PDIC’s foreclosed real estate portfolio hits P19 billion

MANILA, Philippines — State-run Philippine Deposit Insurance Corp. (PDIC) has more than P19 billion worth of real estate properties from banks ordered closed by the Bangko Sentral ng Pilipinas (BSP). The money could be used to beef up PDIC’s buffer to pay out deposit insurance claims. PDIC president Roberto Tan earlier told the Senate Committee on Banks, Financial Institutions, a...

Read more

BSP official: ‘Many’ requests to hike ATM charges already denied

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has already rejected applications by several banks to hike charges for automated teller machine (ATM) transactions by up to 100 percent, an official of the state regulator told the Senate on Monday. Speaking at a Senate hearing presided over by Sen. Grace Poe, BSP managing director Vicente de Villa III said withdrawals from ATMs...

Read more