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Rizal Commercial Banking Corp. (RCBC) saw its first-half net income fall 22.5 percent after setting aside higher credit impairment provisions to cushion heightened geopolitical uncertainties, even as its core lending business expanded.

In a disclosure on Thursday, the Yuchengco-led bank reported a net income of P4.11 billion for the first six months of 2026, down from P5.3 billion a year earlier.

‘Net profit was impacted by credit impairment provisions in response to heightened geopolitical uncertainties. Despite these headwinds, the bank’s core business sustained its momentum,’ RCBC said.

Despite the earnings decline, gross income rose 11.6 percent to P33.91 billion, driven by an 18.2-percent increase in net interest income.

Strategic loan growth and improved funding efficiency lifted RCBC’s net interest margin to 5.1 percent, while cost discipline reduced its cost-to-income ratio to 53.6 percent.

Its total loan portfolio grew 9 percent to P806 billion, led by the consumer segment, which expanded 22 percent to P402.4 billion.

RCBC attributed the growth to data analytics, strategic partnerships and targeted customer acquisition, while maintaining prudent underwriting and risk selection.

As of end-June, total assets reached P1.41 trillion, while capital stood at P150.84 billion, translating to a capital adequacy ratio of 13.4 percent, well above regulatory requirements.

Deposits increased to P1.06 trillion, providing what RCBC described as a stable funding base.

The bank also raised P20.5 billion from its oversubscribed 6.08 percent Series G ASEAN sustainability bonds in April to finance green and social projects.

‘We are navigating a complex and shifting macroeconomic landscape. However, we have been building up our defenses, strengthening our balance sheet and pursuing measured portfolio growth to protect, scale and elevate the strong franchise that is RCBC,’ said Reginaldo B. Cariaso, RCBC president and CEO.

The Bangko Sentral ng Pilipinas (BSP) on Wednesday stepped up its push to system, launching three payment initiatives that include higher-value InstaPay transfers for businesses and a direct debit facility designed to automate bill payments.

Launched with the Philippine Payments Management Inc., the initiatives include Direct Debit PH, InstaPay Cash-In and InstaPay for Business.

Direct Debit PH allows customers to authorize billers to automatically collect payments from their bank or e-wallet accounts on scheduled due dates, eliminating the need for manual payments.

InstaPay Cash-In lets users request funds from another person through participating banks or e-wallets, with the sender completing the transfer directly from their account.

Meanwhile, InstaPay for Business raises the maximum transfer limit for registered businesses tenfold, to P500,000 from P50,000, allowing companies to make larger digital payments without resorting to other payment channels.

Together, the new services are intended to make digital payments more convenient and efficient for both consumers and businesses, while encouraging wider adoption of electronic transactions, the BSP said.

As of 2024, digital channels accounted for 57.4 percent of retail payments, BSP data showed.

Officials acknowledged the next phase would be more difficult. The central bank’s target to digitalize 60 percent to 70 percent of retail payments by 2028 requires expanding the user base while lowering transaction costs and strengthening antifraud systems.

The push has a clear economic rationale. The Bank for International Settlements has found that every 1-percentage-point increase in digital payment use corresponds with a 0.1-percentage-point rise in gross domestic product per capita and a 0.06-percentage-point drop in informal employment. These are gains linked to better access to credit and other basic financial services.

At a press conference, BSP Deputy Governor Mamerto Tangonan said the fresh efforts of the central bank could make its goal more achievable, citing encouraging results from the pilot phase of the three new initiatives

I’m more confident now that we will hit the 2028 target,’ he said

Sen. Erwin Tulfo on Thursday said they have yet to talk about the request for detained Sens. Rodante Marcoleta and Jinggoy Estrada to participate in Vice President Sara Duterte’s impeachment trial, but stressed that permission should be sought from the Sandiganbayan, which has custody over the two senators.

‘We will definitely discuss that. After all, they are still senators, right?’ Tulfo told reporters in an ambush interview when asked about the matter.

‘But the request should not be made to us. It should be made to the Sandiganbayan. If they are allowed, then why not?’ he added.

His statement came as Marcoleta on Tuesday urged fellow senators through a manifestation filed in the Senate to ‘find ways’ for him and another jailed colleague, Sen. Jinggoy Estrada, to participate in Duterte’s impeachment trial.

Marcoleta and Estrada, who both belong to the minority bloc, are currently detained and separately facing nonbailable charges of plunder being heard at the Sandiganbayan.

Tulfo maintained that Marcoleta and Estrada remain senators while their cases are pending.

‘If the trial is still ongoing, then as they say, one is innocent until proven guilty,’ he said.

Tulfo, however, emphasized that he did not want to pre-empt whatever the Sandiganbayan will decide and said that it is ultimately up to the anti-graft court to decide whether the two senators may attend the impeachment proceedings.

Asked about the possibility of the Senate impeachment court being the one to request the two senator’s attendance to the trial, Tulfo said they will talk about it in caucus possibly by Wednesday next week.

Tulfo added that both the majority and the minority senators should have a consensus on the matter.

Previously, Estrada made a motion to be allowed to participate in the impeachment trial but the Sandiganbayan’s Fifth Division, which hears his plunder case, denied his request

A fan-made recreation of Hamilton inside Minecraft has drawn more than 1.4 million views on YouTube, and among its lead cast is a Filipina animation student.

Tech INQ spoke with Elijah ‘EdHed’ Densmore who starred as Alexander Hamilton and ‘Fleurontoxica’ or Poi as Elizabeth Schuyler.

Poi, an incoming fourth-year animation student at De La Salle-College of Saint Benilde, requested to be identified only by their nickname to protect their privacy.

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Landing the roles

The Hamilton recreation in Minecraft, or better known as ‘Schamilton’ was a concept by YouTuber, schpood.

In a QandA on his discord server, he revealed that casting began in late October 2025.

Densmore and Poi submitted their audition pieces, with Densmore performing a piece of ‘Wait for It’ and Poi originally auditioning for Angelica Schuyler.

Poi was working on their thesis at the time and wanted to have the character with the least parts.

‘I thought that maybe there were more talented people out there that had seen the audition,’ they explained. ‘I was like, let’s take the person that I like the most, that I can sing the best.’

Densmore auditioned at the last minute after a friend showed it to him. After he submitted his piece, he was immediately asked to try performing a part of ‘My Shot’ instead.

Because of their vocal talents, they were chosen as the musical’s leads.

Densmore worked as an editor and is currently beginning his own YouTube channel. During the process, he would drive to his dad’s to borrow his studio microphone.

‘I borrowed my dad’s studio mic, and I was like, it would be good to drive and get the extra quality. It was like an hour away,’ he recalled.

Rehearsals in Minecraft

The rehearsal process was described as having similarities with live productions. Schamilton had blocking, lighting directions, as well as vocal directions.

Uniquely however, there were directions on when to nod one’s head or click to perform actions so the character’s hands can move.

‘We worked with directors and producers who were very specific with instructions, like yeah, you should nod your head during this part,’ Poi said.

‘Sometimes they would just say to do whatever feels natural,’ Densmore added. ‘They would tell us if something feels wrong or if it feels too over the top.’

And just like preparing for a performance, the cast and crew bonded over rehearsals, backstage banters, or simply playing Minecraft together.

‘I have done some real life shows,’ began Densmore. ‘I found it hilarious how we had everybody getting together, setting time in their schedules to meet in the game, and mess around on stage. When they’re not really called for a particular scene, they would be backstage talking and hanging out’

‘They even made a little parkour area where you would jump around in the game and pass the time. It formed a lot of real bonds and friendships,’ he continued.

For Poi, living in the Philippines meant they started rehearsals at 3 a.m. Densmore remembered how they would just whisper throughout the meetups.

‘Yeah, I was always whispering. But I actually did give my parents a proper heads up because they usually would get super mad because it is 3 a.m.,’ Poi fondly recalled.

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The live experience

The Minecraft production was shot and streamed live.

No cuts, edits, or pauses were made, and the experience was to replicate how it would be in an actual production.

The recordings were sent by the cast and mixed by Schpood’s tech team. Then, as the audio was prerecorded to avoid latency issues, the cast performed live using the prerecorded vocals.

The production was produced entirely in vanilla Minecraft, which meant that it consisted of zero mods.

Densmore, Poi, and even the fans have especially praised the lighting.

In the video itself, it can be seen how lighting was adjusted with the cast of the ensemble breaking and placing items during set changes.

In a stream and in his QandA, Schpood answered how this was done.

‘Basically it’s commands running a replace command. We have hundreds of different copies of the stages with slightly different lighting queues, command would find them, copy them and paste them into the ACTUAL stage,’ he wrote on his Discord server.

‘If you basically zoomed out over the entire map that was built, there’s just duplicates of every stage per song to accommodate for every lighting cue,’ said Poi.

‘It was supposed to be a logistical nightmare, but it became a logistical dream,’ Poi added.

Reacting to the million views

As of writing, the video has reached 1.4 million views on YouTube. To the cast, they were surprised by the overwhelming support.

‘The million views, genuinely, I still can’t process it,’ Poi said. ‘Looking at the views makes me feel like I had no part in this. I sang, that’s it. That’s genuinely still how it feels right now. But I have people in my school messaging me, like, oh my God, is this you?’

‘I’m very grateful that so many people are saying such kind words about it. It was truly a labor of love,’ Densmore added.

There is no confirmation yet for Act 2. But despite the schedules and its own challenges, Densmore and Poi are willing and ready to be Schamilton’s Alexander and Eliza once more.

Asia United Bank (AUB) posted slightly higher first-half earnings as stronger lending and fee income offset a sharp increase in provisions for potential credit losses.

In a disclosure on Thursday, the Ng family-led bank said net income edged up to P6.19 billion in the first six months of 2026 from P6.13 billion a year earlier.

‘Our steady results in the first half of 2026 reflect a strong foundation that enables us to aggressively accelerate our future-ready digital roadmap,’ said AUB president Manuel A. Gomez.

The results translated to a return on equity of 18.3 percent and a return on assets of 3 percent.

Operating income rose 10.1% to P12.32 billion, driven by a 14.9 percent jump in net interest income to P10.11 billion as loans grew 10% to P281 billion; NIM was 5.1 percent.

Fee and trust income climbed 16 percent to P1.2 billion, driven by HelloMoney, credit cards, trust services, AUB PayMate and branch transactions.

Total assets grew 5.6 percent to P427 billion as of June 30, while deposits rose 3.8 percent to P338 billion, with low-cost current and savings accounts comprising 76.12 percent of the total.

Operating expenses increased 11 percent to P4 billion as AUB continued investing in growth, while maintaining a cost-to-income ratio of 32.6 percent.

Loan loss provisions surged 227 percent to P596 million as the bank strengthened reserves amid the current macroeconomic environment. Even so, asset quality remained sound, with a non-performing loan ratio of 0.44 percent and an NPL coverage ratio of 107.2 percent.

Total equity increased 8.7 percent to P70.54 billion. Its common equity tier 1 ratio stood at 18.62 percent, while its capital adequacy ratio reached 19.28 percent, both comfortably above regulatory requirements

Everyone seems gung-ho about the Philippines entering the JPMorgan Government Bond Index on Jan. 29, 2027. Murmurs among bank treasurers, however, raise concern about the steep price that must be paid-not just by the banks but the investing public, or the bondholders, as well.

We’re talking about the country’s commitment to align the local bond computation with international standards, and the push to implement such a new convention by Sept. 15, in order to join the index.

In a nutshell, the proposed amendment in bond pricing removes the price adjustment between the gross principal and net principal. Market players fear that such an adjustment could gnaw on the profitability of banks that hold government securities in their trading books. Their retail investors and trust clients may also take a hit.

But some market players lament that banking regulators have not issued (and may not issue) any circular to require this change in bond convention, which has been in place since the 1990s. They want the shift to emerge as a ‘market initiative.’

However, if the bond recomputation indeed results in significant losses, bankers fear that they would be the ones vulnerable to legal complaints.

One senior banker told Biz Buzz, ‘Somewhere down the road, someone could sue the bank and say, why change the computation at our expense?’

As such, we hear that the open market committee of the Bankers Association of the Philippines (BAP) wants to ask the Bangko Sentral ng Pilipinas for a circular directing them to adopt the new method. The appeal is now up for deliberation by the BAP board.

If it’s mandated, banks want a document, formal directive, to protect themselves from lawsuits.

As the issuer of those government bonds, the source said another alternative is for the Bureau of Treasury to undertake a bond swap. However, this doesn’t seem to be a walk in the park because it could be difficult to explain to the Commission on Audit.

At the end of the day, banks have no choice but to comply.

‘But where’s the circular so we can adjust product manuals and system?’ the source asked.

Also, there’s doubt on whether the market is ready to make the big shift by the Sept. 15 target.

Thus, while joining the JPMorgan bond index is a big wow, many people in the dealing room are not ready to uncork the champagne just yet.

‘There’s still a lot of work to be done,’ our source said. – Doris Dumlao-Abadilla

BlockShoals joins FinTech Alliance

For a company looking to win over both regulators and users, who you keep company with matters.

BlockShoals Technologies Inc., the Securities and Exchange Commission-approved crypto asset intermediary (CAI) operating under the regulator’s Strategic Sandbox, has joined FinTech Alliance PH, the country’s largest digital industry group.

The move gives BlockShoals a seat alongside more than 100 corporate members that account for over 95 percent of the country’s digital retail financial transaction volume.

But beyond networking, the company is clearly sending a message: compliance comes first.

BlockShoals chair Alfredo Panlilio said joining the alliance reflects the company’s goal of becoming the country’s most trusted and reliable CAI.

BlockShoals-the locally regulated entity through which Binance products and services are offered in the Philippines-said the membership aligns with its goal of setting the standard for regulatory compliance, consumer protection and operational excellence in the digital asset space.

Under the arrangement, BlockShoals handles local regulatory and compliance responsibilities, while Binance provides the technology infrastructure.

As policymakers continue refining the rules for digital assets, firms are increasingly seeking credibility as much as customers.

For BlockShoals, joining the country’s leading fintech association may be another step toward earning both. -Emmanuel John B. Abris

Globe gets new brand builder

One of the world’s strongest telco brands is set to get a new brand builder.

Globe Telecom Inc. has appointed Carlo Jimenez as vice president for marketing and head of masterbrand, tapping his more than two decades of experience in shaping brands through the advertising industry.

In his new position, Jimenez ‘will be leading Globe’s masterbrand direction, driving consistent brand equity, and ensuring that Globe and its portfolio of brands continue to play a meaningful, impactful role in the daily lives of Filipinos.’

Before joining Globe, Jimenez spent 22 years at Publicis JimenezBasic, 12 of those as its chief strategy officer.

His career in advertising began in 2002 as a copywriting intern at Basic Advertising.

Over the years, he helped shape campaigns for some of the country’s biggest companies, including United Laboratories, Jollibee Foods Corp., Monde Nissin and Splash. He also worked on regional brands such as Mondelez, Unilever and L’Oréal.

At Globe, Jimenez will now help lead a company that Brand Finance ranked as the world’s 10th strongest telco brand in 2026.

Class suspensions were declared in several areas on Thursday, July 30, due to the heavy rainfall brought by the low-pressure area (LPA) and for security concerns.

Classes in in the following towns in Bulacan are suspended due to the inclement weather caused by the LPA:

San Ildefonso – kindergarten to senior high school, all levels

San Miguel – kindergarten to senior high school, all levels

Meanwhile, the local government of Naujan in Oriental Mindoro also announced the cancellation of classes in the following areas due to an armed encounter in Brgy. Del Pilar that transpired on Wednesday afternoon:

District 7 – all levels (public and private)

District 8 – all levels (public and private)

Naujan Mayor Henry Joel Teves said Wednesday in an advisory that classes will be suspended until the affected areas are declared safe and secured by the authorities.

Refresh this page for updates.

President Marcos inspected on Thursday the P600-million newly rehabilitated and improved Sual fish port of the Philippine Fisheries Development Authority.Marcos likewise spoke with officers and crew of Bureau of Fisheries and Aquatic Resources vessels that are patrolling the West Philippine Sea, two of which were recently water-cannoned by the China Coast Guard.Major project features include a rehabilitated water tank, cold storage and processing facility, market hall, new administrative building, new food stalls, rehabilitated and expanded pier, new commercial building, stair landing and sorting area.

Marcos eyes new fish ports, ice plants to cut costs for fisherfolkThe fish port features a processing facility, four cold storage units, four blast freezers, two chiller rooms, two flake ice-making equipment, and storage.

Secretary Francisco Tiu Laurel said President Marcos plans to improve all ports in the country so that if there is a glut in production or harvest, there are post-harvest facilities to preserve fish catch. These, in turn, will ensure prices are stabilized and prevent losses in fish catch.Sual fishport has existed since the 1990s, and its facilities are already old but expanded and modernized.fishport can process fish for local and international markets, he said

Former couple Heaven Peralejo and Marco Gallo admitted they missed each other as they reunited during the media conference for ‘Our Yesterday’s Escape,’ the final chapter to Viva One’s ‘University Series,’ which was headlined by Jairus Aquino and Nicole Omillo.

Aside from the aforementioned, other cast members, including Bea Binene, Wilbert Ross, Jerome Ponce, Krissha Viaje, Aubrey Caraan, Lance Carr, Gab Lagman and Hyacinth Callado, gathered to promote the sixth installment of the hit franchise on Wednesday, July 29, at a mall in Quezon City.

During the press conference, Gallo and Peralejo were asked about their reunion after ending their relationship in 2025, as they appeared still comfortable and affectionate toward each other.

‘Na-miss ko lang. Okay lang ba ‘yun? Na miss mo ba ako, Heaven? Madali lang sagot, oo o hindi,’ Gallo said.

Peralejo replied, ‘Ilang years kami magkasama – and yes. Na miss ko si Marco.’

Gallo noted they have already moved past the difficult period following their breakup and are now on good terms.

‘To be quite honest with you, I would not like to put so much pressure on the topic (closeness and sweetness) because, obviously, as exes, we had the phase na medyo nagkainitan kami. Pero ngayon, okay na kami. As in, walang galit, and I’m really just happy being around you, and it’s fun to work with you, so work na lang muna tayo,’ he said.

Peralejo confirmed in July 2025 that she and Gallo had ended their relationship through a mutual decision. At the time, she said they remained good friends and was open to working with him again on future projects.

The pair also looked back on their journey in the ‘University Series,’ where they first became an on-screen pair in ‘The Rain in España,’ based on the novel by Gwy Saludes. They portrayed Kalix and Luna.

Peralejo turned emotional as she reflected on how the franchise grew following the first installment which she and Gallo headlined.

‘Nagsimula kami magsisimula pa lang ‘yung VivaOne. Magmo-mall show kami, walang tao. Ganon ‘yung simula namin. Then makikita natin ngayon lumalaki, so hindi lang ako ready na matapos lang ‘to, ‘yung pinaghirapan namin hindi pa pwede matapos,’ she said.

‘Our Yesterday’s Escape,’ starring Aquino and Omillo, is the sixth installment of the ‘University Series,’ which also includes ‘The Rain in España,’ ‘Safe Skies, Archer,’ ‘Chasing in the Wild,’ ‘Avenues of the Diamond’ and ‘Golden Scenery of Tomorrow.’ The final installment premieres Sept. 5 on Viva One

The Philippine gaming industry is poised for another difficult year as tighter government rules and sluggish consumer spending curb revenue, leaving only a muted recovery in 2027, SandP Global Ratings said.

In a report, SandP projected that the country’s gross gaming revenue (GGR) would shrink 7 percent this year, reversing the 6-percent growth in 2025 and marking the second-steepest decline among seven Asia-Pacific gaming markets covered in its analysis.

The ratings agency said Manila’s tighter oversight of online gambling would dent industry revenue just as elevated inflation continues to squeeze household spending.

It added that earlier regulatory measures that favored online gaming-such as lower remittance rates-may also undermine the economics of large-scale investments in brick-and-mortar casinos by shifting activity away from traditional gaming venues.

‘There has been rapid growth in online gambling gross gaming revenue in the Philippines. However, it recently slowed due to a clampdown on e-wallet linkages,’ the report said.

‘Twenty-fold growth in online gaming between 2022 and 2025 ignited concerns over addiction, prompting sudden restrictions on e-wallet linkages in August 2025,’ it added.

According to the Philippine Amusement and Gaming Corp. (Pagcor), the local gambling industry’s GGR declined 15.87 percent to P87.6 billion in the first three months of the year. Pagcor Chair and CEO Alejandro Tengco attributed the slump to softer discretionary spending as rising oil prices squeezed household budgets.

The online and electronic gaming sector, which includes e-games, e-bingo, bingo and poker, was the hardest-hit segment as its combined revenues dropped 22.43 percent year-on-year. Meanwhile, licensed casinos were the industry’s largest revenue source with P44.52 billion in GGR, while Pagcor-operated casinos generated P3.17 billion.

Despite the weak first-quarter performance, Tengco said he remained optimistic that the industry would rebound once geopolitical tensions ease