Jose Teodoro (TG) Limcaoco, president & chief executive officer of Bank of the Philippine Islands (BPI), outlines his award-winning approach to leadership as he spearheads the bank's digital innovations, revamped brand structure, and "agency banking" thrust – all part of a five-year expansion strategy that aims to make the bank more financially inclusive and add 50 million customers by 2026.
The Philippines used to be the target of jokes about valuation discounts, but now the market is having the last laugh as investors fight for a piece of its potential.
Speaking at his first international media briefing of the year, Philippines central bank chief Benjamin E. Diokno shared the country’s latest economic indicators and the sectors he expects will drive FDI in 2022.
At a recent media conference, incoming Bangko Sentral ng Pilipinas (BSP) governor, Felipe Medalla, stressed the bank’s focus on stabilising inflation, and does not rule out more aggressive policy tightening.
Investors are on a rollercoaster ride as the spread of the COVID-19 widens globally. Looking to the future, the Philippines government is seeking to support and stimulate the nation’s economy.
The international hunt for yield has helped the Philippines sell its largest-ever offshore bond, but despite a ratings upgrade by S&P, it must balance fiscal easing with a balanced currency.
Domestic demand will be the key economic driver for growth in the Philippines 2020, on the back of increased government spending, relatively benign inflation and supportive monetary policies. However, the full effects of the coronavirus outbreak are yet to be calculated.
The Philippines is on track to meet its key 2019 targets. With one of the highest GDP’s in Asia, inflation falling to a new low, and international reserves on the rise, this should be enough to attract investors.
