AGP Executive Report
Last update: 2 hours agoPhilippines Impeachment Paperwork: Senate impeachment court set time slots for subpoenaed banks and the AMLC to hand over VP Sara Duterte’s peso-denominated bank records, with some banks requesting extra days for remaining documents. Bank Earnings Watch: RCBC reported first-half net income down 22.5% to P4.11B as it boosted credit impairment provisions amid geopolitical uncertainty, even as lending and net interest income rose. Central Bank Move: Bangladesh Bank cut its repo rate by 50 bps to 9.5% and reduced the standing lending facility to 11%, marking the first policy easing in six years. RBI Deposit Rules: India’s RBI said deposit interest rates, including on bulk deposits, must be uniform across branches and customers, with limited flexibility tied to liquidity run-off factors. AI for Banking in India: BHASHINI and PNB signed an MoU to roll out multilingual AI voice/text banking across PNB’s digital channels. EU AI Infrastructure Push: The European Commission opened applications for up to seven AI “gigafactories” backed by €10bn public funding, aiming to cut Europe’s dependence on external AI compute. Market Signals: Qatar’s QSE ended the week down 1.11%, while Philippine banks expect stable lending standards in Q3, per the BSP survey.
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