The banks of the Asia-Pacific region have been subject to successive waves of regulatory changes in recent years. Remaining compliant with strengthened anti-money laundering rules, know-your-customer guidelines and a raft of sustainability and transparency initiatives proved to be a resource-consuming process for the region’s lending...
This is an important period of transition for the Philippine insurance sector, as stakeholders attempt to meet a range of new regulatory requirements designed to expand the industry’s depth and reach. There has been strong growth in profitability and gross written premium (GWP) in recent years, generated by a wide range of insurance types and...
One of the oldest stock exchanges in Asia, the Philippine Stock Exchange (PSE) is delivering robust returns. Indeed, the PSE index (PSEi) ended 2017 on an all-time high – up 25.1% year-on-year (y-o-y) – and broke an intra-day record on the year’s last trading day, reaching 8640.04 points. These gains proved difficult to sustain in 2018, with...
Tax reform has been front and centre of President Rodrigo Duterte’s policy agenda since the combative former mayor of Davao City was elected to the Philippines’ highest office in 2016. Indeed, enhanced revenue mobilisation from a more efficient and effective tax system is seen by the Duterte administration as a key component of plans to...
In 2018 the Philippines posted a record trade deficit of $41.4bn, the largest gap in the nation’s history. This was a major increase on previous years, compared to $27.4bn in 2017 and $26.7bn in 2016. However, the results from the first few months of 2019 suggest that the deficit is beginning to narrow. In April 2019 the balance of trade in...
With strong capitalisation and credit growth on the back of robust GDP figures and falling inflation, the Philippine banking sector now faces a year in which consolidation of gains and expansion into new demographics are clearly on the agenda. The country continues to be well served by a variety of lenders, with universal and commercial banks...
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