Gov’t hikes UCPB stake, abandons privatization

The government has abandoned its previous plan to privatize United Coconut Planters Bank (UCPB) and instead jacked up control over the state-run lender so it can assist farmers and help ensure food security amid the COVID-19 pandemic. In a statement on Friday, the Department of Finance (DOF) said the government’s stake in UPCB was hiked […]

ADB hikes Asia-Pacific’s COVID-19 war chest to $20B

MANILA, Philippines – With more governments as well as private firms across Asia-Pacific in need of financial assistance to fight the pandemic’s health and socioeconomic fallout, the Asian Development Bank (ADB) has tripled its regional COVID-19 response facility to...

Chinabank hikes ATM withdrawal limit to P50,000

Sy family-led China Bank has jacked up its daily automated teller machine (ATM) withdrawal limit to P50,000 from P20,000 to make it easier for customers to have enough cash at hand during the lockdown of Luzon. Starting April 1, 2020, until the enhanced community...

SM hikes COVID-19 support fund to P170M

SM Investments vice chair Teresita Sy-Coson (second from left) and Henry Sy Jr. (third from left) The SM group has scaled up its coronavirus (COVID-19) assistance program as total donations reached P170 million so far, exceeding its initial budget of P100 million. The...