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More mergers in rural banking sector seen

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Depositors are greeted by an iron grill gate and a notice announcing the closure of Rural Bank of San Fernando in San Fernando town, Cebu province. The Bangko Sentral ng Pilipinas expects more mergers in the rural banking sector as industry players take advantage of regulatory incentives, allowing them to time their moves to gain greater economies of scale.  TONEE DESPOJO/CEBU DAILY NEWS

The Bangko Sentral ng Pilipinas (BSP) expects more mergers in the rural banking sector as industry players take advantage of regulatory incentives, allowing them to time their moves to gain greater economies of scale.

Posted: April 7th, 2014 in Featured Gallery,Latest Business Stories,Photos & Videos | Read More »

Bo’s millionaire maids, rural banks and the innovation question

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Q: We are a group of business friends who own rural banks in northern Luzon. We heard you (the Senior MRx-er) speak at our RBAP-MABS conference two years ago. (RBAP is Rural Bank Association of the Philippines. MABS is a USAID-supported Microenterprise Access to Banking Services program.) We liked reading your column especially when you wrote about how the banking sector has been a largely unrecognized source of life-changing innovations like the ATM, the credit card, etc.

Posted: February 6th, 2014 in Columnists,Inquirer Columns,Inquirer Features | Read More »

BSP: Small banks may now sell financial products

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Rural and thrift banks are now allowed to sell financial products such as insurance plans and credit cards of their sister firms, according to the central bank.

Posted: July 5th, 2013 in Headlines | Read More »

Rural, co-op banks post increase in bad loans

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Bad loans held by rural and cooperative banks rose at the end of 2012 due to natural calamities that affected their borrowers’ ability to pay debts, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.

Posted: June 18th, 2013 in Headlines | Read More »

New law seen to strengthen rural banks

The bill allowing foreigners to invest in rural banks in the country was recently enacted into law.

Posted: May 30th, 2013 in Headlines | Read More »

BSP expected to allow rural, thrift banks to do cross-selling

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The Bangko Sentral ng Pilipinas is issuing a regulation that will allow thrift and rural banks to engage in cross-selling of financial instruments.

Posted: March 21st, 2013 in Headlines | Read More »

PDIC raises automatic claims payment for small clients

A person whose bank deposit amounts to P15,000 or below need no longer go through the process of filing for an insurance claim in the event of a bank closure, according to the Philippine Deposit Insurance Corp.

Posted: November 29th, 2012 in Headlines | Read More »

BSP to subject rural banks to ‘stress tests’

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THE BANGKO Sentral ng Pilipinas said rural banks will soon be subjected to “stress tests,” noting that bank system failures may also be triggered by the closure of small banks.

Posted: November 24th, 2012 in Headlines | Read More »

More big banks keen on buying up weak players

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A string of acquisitions in the banking sector may be in the offing, with several large banks expressing interest to take over undercapitalized rural banks.

Posted: September 9th, 2012 in Headlines | Read More »

Rural banks’ exposure to bad debts on the rise

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The rural banking sector’s exposure to bad debts rose in the third quarter of 2011, breaking into the double-digit territory, the Bangko Sentral ng Pilipinas reported Friday.

Posted: July 7th, 2012 in Headlines | Read More »

Xpress Money eyes tie-ups with rural banks

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Xpress Money targets to serve in at least 1,500 more locations in the Philippines in 2012 through partnerships with rural banks in Luzon, Visayas and Mindanao.

Xpress Money, a global money transfer firm, seeks to expand its presence in the Philippines by entering into partnership deals with rural banks nationwide.

Posted: June 10th, 2012 in Latest Business Stories | Read More »

BSP ups incentives for rural banks’ consolidation

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Commercial and thrift banks are urged to acquire troubled rural banks, with regulators offering various incentives to potential white knights in a bid to end costly failures in the rural banking sector. The Bangko Sentral ng Pilipinas announced Wednesday that the Strengthening Program for Rural Banks (SPRB), under which incentives are granted to encourage acquisition [...]

Posted: May 16th, 2012 in Headlines | Read More »

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