PASAY CITY,&nbsp;Philippines,&nbsp;May 10, 2023 - SM Investments Corporation (SM Investments), the country's leading conglomerate, reported its consolidated net income grew 33% to&nbsp;PHP17.3 billion&nbsp;in the first quarter from&nbsp;PHP13.0 billion&nbsp;in the same period last year.

Consolidated revenues in the January to March period increased 21% to&nbsp;PHP138.2 billion, from&nbsp;P113.8 billion&nbsp;in the same period last year.

"This year has started well, continuing the strong momentum of 2022. We are well positioned for continued growth and prepared for any macroeconomic uncertainties. Meanwhile the whole group is pushing ahead with regional expansion plans to serve more Filipinos," SM Investments President and Chief Executive Officer&nbsp;Frederic C. DyBuncio&nbsp;said.

Banking accounted for 47% of reported net earnings from core businesses, followed by property at 26%, retail at 17% and portfolio investments at 10%.

BDO Unibank, Inc. reported a net income of&nbsp;PHP16.5 billion, up 41% from the same period last year and bolstered by solid loan and deposit growth, robust fee-income generation and improved asset quality.

China Banking Corporation booked a&nbsp;PHP5.0 billion&nbsp;net income for the first quarter, up 3% from the same period last year, driven by robust asset base expansion, strong net interest income and lower credit provisions.

SM Prime Holdings, Inc. (SM Prime) registered a consolidated net income of&nbsp;PHP9.4 billion, 27% higher than the&nbsp;PHP7.4 billion&nbsp;in the same period last year. Consolidated revenues grew 20% to&nbsp;PHP28.7 billion&nbsp;from&nbsp;PHP23.9 billion.&nbsp;

The Philippine mall business revenues increased 88% to&nbsp;PHP15.4 billion&nbsp;from&nbsp;PHP8.2 billion.

The rental income of local malls increased 72% to&nbsp;PHP13.0 billion&nbsp;with the increase in tenant sales and foot traffic and the full charging of rental fees implemented since the second half of 2022.&nbsp;

Revenues of its residential business group, led by SM Development Corp. (SMDC), was lower by 29% to&nbsp;PHP8.5 billion&nbsp;partly due to canceled sales as an effect of high inflation, rising domestic interest rates and the lapse of the Bayanihan Law. However, cancellations are beginning to moderate in the first quarter of 2023. SMDC's sales take-up rose 15% to&nbsp;PHP35.8 billion.

Revenues of offices, hotels, and convention centers grew 59% to&nbsp;PHP3.2 billion.

SM Retail net income grew 51% to&nbsp;PHP3.9 billion&nbsp;from&nbsp;PHP2.6 billion. Revenues were up 22% to&nbsp;PHP91.2 billion&nbsp;from&nbsp;PHP74.5 billion&nbsp;as consumers' purchasing power remained stable despite higher inflation. &nbsp;

Notably, the department store business was strong as improving employment continued to support spending. Food retailing was likewise strong with constant spending on food essentials. Specialty retail growth was also driven by discretionary spending on fashion, accessories and sports items.

Portfolio investments continued to contribute to revenues and net income, gaining momentum from the turnarounds from last year.

SM Investments expects the portfolio businesses to make a bigger contribution to the Group's revenues and earnings over time.

Total assets of SM Investments stood at&nbsp;PHP1.5 trillion. Gearing ratio remained conservative with 35% net debt to 65% equity.&nbsp;

SM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM's retail operations are the country's largest and most diversified with its food, non-food, and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in&nbsp;the Philippines&nbsp;with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the 6th largest bank.

For information, please visit&nbsp;<a href="http://www.sminvestments.com/" target="_blank" rel="nofollow">www.sminvestments.com</a>

<h1>SM Investments Q1 net income grows 33% to PHP17.3 bn on resilient consumer demand</h1>PASAY CITY,&nbsp;Philippines,&nbsp;May 10, 2023 - SM Investments Corporation (SM Investments), the country's leading conglomerate, reported its consolidated net income grew 33% to&nbsp;PHP17.3 billion&nbsp;in the first quarter from&nbsp;PHP13.0 billion&nbsp;in the same period last year.Consolidated revenues in the January to March period increased 21% to&nbsp;PHP138.2 billion, from&nbsp;P113.8 billion&nbsp;in the same period last year."This year has started well, continuing the strong momentum of 2022. We are well positioned for continued growth and prepared for any macroeconomic uncertainties. Meanwhile the whole group is pushing ahead with regional expansion plans to serve more Filipinos," SM Investments President and Chief Executive Officer&nbsp;Frederic C. DyBuncio&nbsp;said.Banking accounted for 47% of reported net earnings from core businesses, followed by property at 26%, retail at 17% and portfolio investments at 10%.BankingBDO Unibank, Inc. reported a net income of&nbsp;PHP16.5 billion, up 41% from the same period last year and bolstered by solid loan and deposit growth, robust fee-income generation and improved asset quality.China Banking Corporation booked a&nbsp;PHP5.0 billion&nbsp;net income for the first quarter, up 3% from the same period last year, driven by robust asset base expansion, strong net interest income and lower credit provisions.PropertySM Prime Holdings, Inc. (SM Prime) registered a consolidated net income of&nbsp;PHP9.4 billion, 27% higher than the&nbsp;PHP7.4 billion&nbsp;in the same period last year. Consolidated revenues grew 20% to&nbsp;PHP28.7 billion&nbsp;from&nbsp;PHP23.9 billion.&nbsp;The Philippine mall business revenues increased 88% to&nbsp;PHP15.4 billion&nbsp;from&nbsp;PHP8.2 billion.The rental income of local malls increased 72% to&nbsp;PHP13.0 billion&nbsp;with the increase in tenant sales and foot traffic and the full charging of rental fees implemented since the second half of 2022.&nbsp;Revenues of its residential business group, led by SM Development Corp. (SMDC), was lower by 29% to&nbsp;PHP8.5 billion&nbsp;partly due to canceled sales as an effect of high inflation, rising domestic interest rates and the lapse of the Bayanihan Law. However, cancellations are beginning to moderate in the first quarter of 2023. SMDC's sales take-up rose 15% to&nbsp;PHP35.8 billion.Revenues of offices, hotels, and convention centers grew 59% to&nbsp;PHP3.2 billion.RetailSM Retail net income grew 51% to&nbsp;PHP3.9 billion&nbsp;from&nbsp;PHP2.6 billion. Revenues were up 22% to&nbsp;PHP91.2 billion&nbsp;from&nbsp;PHP74.5 billion&nbsp;as consumers' purchasing power remained stable despite higher inflation. &nbsp;Notably, the department store business was strong as improving employment continued to support spending. Food retailing was likewise strong with constant spending on food essentials. Specialty retail growth was also driven by discretionary spending on fashion, accessories and sports items.Portfolio InvestmentsPortfolio investments continued to contribute to revenues and net income, gaining momentum from the turnarounds from last year.SM Investments expects the portfolio businesses to make a bigger contribution to the Group's revenues and earnings over time.Balance SheetTotal assets of SM Investments stood at&nbsp;PHP1.5 trillion. Gearing ratio remained conservative with 35% net debt to 65% equity.&nbsp;About SM Investments CorporationSM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.SM's retail operations are the country's largest and most diversified with its food, non-food, and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in&nbsp;the Philippines&nbsp;with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the 6th largest bank.For information, please visit&nbsp;<a href="http://www.sminvestments.com/" target="_blank" rel="nofollow">www.sminvestments.com</a>

Accounting

Banks / Credit unions

Financial results announcement

SM Investments Q1 net income grows 33% to PHP17.3 bn on resilient consumer demand

MANILA, Philippines — The world has certainly transformed by leaps and bounds, thanks to technology and innovation.

In retrospect, it is being creative and imaginative—building on the old, while embracing the new—that enable institutions to become future-ready.

Amid its transformation to becoming the country’s first "techglomerate," the Aboitiz Group is leveraging its decades-long experience and adapting to new agile processes and technologies.

A big part of its vision of establishing a sustainable enterprise that generates long-term equitable value is its energy arm’s 10-year renewable energy growth strategy.

AboitizPower is harnessing new technological advancements and industry trends that can help expedite the realization of its strategy to strike a 50:50 balance between thermal and renewable portfolios by 2030.

Last January, it held a groundbreaking ceremony for its 17-megawatt (MW) binary geothermal project in Tiwi, Albay. This July, the operation of its 94 MW peak Cayanga-Bugallon solar power project in Pangasinan is expected to be completed.

Meanwhile, the financial close of its 90 MW Libmanan onshore wind project in Camarines Sur will be finished by the end of the year.

At the same time, the power company is transforming its substations in Cebu and Davao to become fully digital, creating a stronger and efficient network security.

AboitizPower is also the first power company in the country to utilize artificial intelligence (AI) to help analyze data from its power plants and, in the process, predict and avoid breakdowns and optimize planned shutdowns.

There are many other initiatives including the use of green transformers to replace old units that use mineral oil, the upcycling of ash and plastic waste into bricks and the adoption of science-based approaches in responding to community disasters and climate change.

The Aboitiz Group has also taken advantage of the advancements in digitalization to significantly improve its banking services and operations via its banking arm UnionBank.

This is evidenced by the Asset Triple A’s recognition of it being this year’s Digital Bank of the Year. This makes UnionBank the first and only Philippine bank to receive the award six years in a row.

One of UnionBank’s biggest projects is the game-changing UB Innovation Campus, the first smart campus for a financial institution in the Asia Pacific region, powered by Huawei Technologies.

The UnionBank Innovation Campus is a first in the Philippine banking industry. UnionBank institutes on Data Science and Artificial Intelligence, Blockchain, as well as its digital bank EON in one roof.

No less than President Ferdinand Marcos, Jr. led its inauguration in September last year.

“The track record of UnionBank in creating opportunities through innovation and digital solutions in the banking sector is uncontested," President Marcos, Jr. said.

Indeed, UnionBank’s vision has always been to be the pioneer in digital banking by making banking services more accessible, especially for rural communities.

As proof of this, UnionBank is linked to major e-wallets and e-commerce wallets in the country, making it quicker for end users to top up or deposit to their daily e-wallets in any amount.

This is also being explored throughout other non-banking industries, such as insurtech, digital lending and alternative financing.

UnionBank is also spearheading changes in the banking landscape through co-creation and transformation of financial services and creating new experiences by leveraging both innovative and disruptive technology to meet rapidly changing customer demands and expectations.

These enable the Bank to tap new markets and create new business models by building on the Bank’s early adoption of emerging technologies, such as Application Programming Interface (API), Blockchain and Metaverse.

In all, UnionBank registered 2.214 million new digital customers as of Nov. 30, 2022, bringing the Bank’s total digital customers to about 5.839 million as of Q4 2022.

Of the 5.839 million, 28.36%&nbsp;or more than 1.6 million customers opened their account in a purely digital manner via the UB Online App.

Aboitiz Data Innovation (ADI) is advancing an over-a-century-old company’s technological transformation journey by operationalizing data science and AI across the Aboitiz Group’s business units.

Aboitiz Data Innovation Head of Solutions Architecture Josh Bosiños (center) with ADI data scientists.

Aside from banking and power, the Aboitiz Group's pivot towards innovation is backed and accelerated by its Data Science and Artificial Intelligence (DSAI) arm, Aboitiz Data Innovation (ADI).

ADI continues to operationalize solutions anchored on DSAI to improve all aspects of the Group’s operations.

For instance, the Data Science and AI team developed and deployed an AI-powered model to help measure a Suspicious Transaction Reporting (STR) alert’s risk of becoming an invalid alert (false positive) and therefore allows the Anti-Money Laundering (AML) operations team of UnionBank to prioritize their manual investigations.

The solution resulted in up to 40% decrease in the number of alerts which eventually led to a reduction in man-hours for manual investigation, while concurrently achieving very high confidence in detecting valid alerts.

ADI is likewise working closely with AboitizPower with the goal of reducing emissions from thermal plants, improving reliability across the grid, and developing insights into electricity markets.

Indeed, the Aboitiz Group has fully embraced innovation and it is evident across its different business units.

<h1>The Aboitiz Group’s innovation journey</h1>MANILA, Philippines — The world has certainly transformed by leaps and bounds, thanks to technology and innovation.In retrospect, it is being creative and imaginative—building on the old, while embracing the new—that enable institutions to become future-ready.Amid its transformation to becoming the country’s first "techglomerate," the Aboitiz Group is leveraging its decades-long experience and adapting to new agile processes and technologies.A big part of its vision of establishing a sustainable enterprise that generates long-term equitable value is its energy arm’s 10-year renewable energy growth strategy.AboitizPower is harnessing new technological advancements and industry trends that can help expedite the realization of its strategy to strike a 50:50 balance between thermal and renewable portfolios by 2030.Last January, it held a groundbreaking ceremony for its 17-megawatt (MW) binary geothermal project in Tiwi, Albay. This July, the operation of its 94 MW peak Cayanga-Bugallon solar power project in Pangasinan is expected to be completed.Meanwhile, the financial close of its 90 MW Libmanan onshore wind project in Camarines Sur will be finished by the end of the year.At the same time, the power company is transforming its substations in Cebu and Davao to become fully digital, creating a stronger and efficient network security.AboitizPower is also the first power company in the country to utilize artificial intelligence (AI) to help analyze data from its power plants and, in the process, predict and avoid breakdowns and optimize planned shutdowns.There are many other initiatives including the use of green transformers to replace old units that use mineral oil, the upcycling of ash and plastic waste into bricks and the adoption of science-based approaches in responding to community disasters and climate change.The Aboitiz Group has also taken advantage of the advancements in digitalization to significantly improve its banking services and operations via its banking arm UnionBank.This is evidenced by the Asset Triple A’s recognition of it being this year’s Digital Bank of the Year. This makes UnionBank the first and only Philippine bank to receive the award six years in a row.One of UnionBank’s biggest projects is the game-changing UB Innovation Campus, the first smart campus for a financial institution in the Asia Pacific region, powered by Huawei Technologies.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/UB-building.jpg" alt="Image"/>The UnionBank Innovation Campus is a first in the Philippine banking industry. UnionBank institutes on Data Science and Artificial Intelligence, Blockchain, as well as its digital bank EON in one roof.No less than President Ferdinand Marcos, Jr. led its inauguration in September last year.“The track record of UnionBank in creating opportunities through innovation and digital solutions in the banking sector is uncontested," President Marcos, Jr. said.Indeed, UnionBank’s vision has always been to be the pioneer in digital banking by making banking services more accessible, especially for rural communities.As proof of this, UnionBank is linked to major e-wallets and e-commerce wallets in the country, making it quicker for end users to top up or deposit to their daily e-wallets in any amount.This is also being explored throughout other non-banking industries, such as insurtech, digital lending and alternative financing.UnionBank is also spearheading changes in the banking landscape through co-creation and transformation of financial services and creating new experiences by leveraging both innovative and disruptive technology to meet rapidly changing customer demands and expectations.These enable the Bank to tap new markets and create new business models by building on the Bank’s early adoption of emerging technologies, such as Application Programming Interface (API), Blockchain and Metaverse.In all, UnionBank registered 2.214 million new digital customers as of Nov. 30, 2022, bringing the Bank’s total digital customers to about 5.839 million as of Q4 2022.Of the 5.839 million, 28.36%&nbsp;or more than 1.6 million customers opened their account in a purely digital manner via the UB Online App.Aboitiz Data Innovation (ADI) is advancing an over-a-century-old company’s technological transformation journey by operationalizing data science and AI across the Aboitiz Group’s business units.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/architect.jpg" alt="Image"/>Aboitiz Data Innovation Head of Solutions Architecture Josh Bosiños (center) with ADI data scientists.Aside from banking and power, the Aboitiz Group's pivot towards innovation is backed and accelerated by its Data Science and Artificial Intelligence (DSAI) arm, Aboitiz Data Innovation (ADI).ADI continues to operationalize solutions anchored on DSAI to improve all aspects of the Group’s operations.For instance, the Data Science and AI team developed and deployed an AI-powered model to help measure a Suspicious Transaction Reporting (STR) alert’s risk of becoming an invalid alert (false positive) and therefore allows the Anti-Money Laundering (AML) operations team of UnionBank to prioritize their manual investigations.The solution resulted in up to 40% decrease in the number of alerts which eventually led to a reduction in man-hours for manual investigation, while concurrently achieving very high confidence in detecting valid alerts.ADI is likewise working closely with AboitizPower with the goal of reducing emissions from thermal plants, improving reliability across the grid, and developing insights into electricity markets.Indeed, the Aboitiz Group has fully embraced innovation and it is evident across its different business units.

Credit card / Loan

The Aboitiz Group’s innovation journey

Glenn Paul Añover Embodo is among the 'Yolanda' scholars helped by SM Foundation, Inc. of the SM Group, following the devastation of the super typhoon in the country in 2013.

That's why Glenn was elated to share the good news to SM that he's now a Certified Public Accountant. This came after a long wait for the accounting licensure exams that were put on hold during the pandemic and resumed only in 2022. &nbsp;

Glenn's achievement is a story that inspires SM to keep paying it forward and extend the gesture of gratitude to the different communities it serves for all the support the brand has received for over 60 years.&nbsp;

SM Investments Corporation strives to create real, positive community impact not only through the accessibility of goods and services, but in the creation of socio-economic ventures leading to over 140,000 jobs created across the group in 2022.

"As we grow, we work to ensure that we create and share value with our partners and our communities, helping build strong social foundations," SM Investments Corporation President and CEO&nbsp;Frederic C. DyBuncio&nbsp;said.

In 2022, SM's partnership with suppliers, tenants, and brand affiliates grew. Around 68 percent of SM Supermalls tenants were MSMEs, and the group provided over&nbsp;PHP62.72 billion&nbsp;outstanding loans through its banking businesses, BDO Unibank and China Banking Corporation.

The attainment of equal access to education is a commitment shared across SM. This passion continues to bridge innate Filipino potential to quality education for all.

SM's School and Classroom Building Program has laid the building blocks to house future leaders, and inspiring educators, which has turned over 342 school buildings and 1,110 classrooms built and refurbished to date. The Scholarship Program has supported a total of 11,750 scholars to date.&nbsp;

Working closely with the Department of Health (DOH) helped give people access to basic health services, especially in grassroots communities.

The Group's efforts to empower community health have translated to the renovation and refurbishment of 317 health centers and medical facilities with 1,847 medical missions conducted to date. SM believes in the power of these centers to ensure the welfare of communities and to help reduce the impacts of health outbreaks akin to COVID-19.

To date, over 6.3 million patients have been served by SM's medical missions and wellness center initiatives.

This is in addition to over 10.5 million COVID-19 vaccine doses administered across 77 participating mall vaccination sites by the end of 2022.

SM has been a long-time advocate for environmental stewardship and recently launched the Grow Trees Community through its social good arm, SM Foundation, in partnership with the Fast Retailing Foundation.

The program focuses on developing long-term reforestation by involving an ecosystem of community partners to care for all seedlings planted.

SM's tree planting initiatives have resulted in over 2.6 million trees planted and maintained through SM Foundation, Belle Corporation, Hamilo Coast and Carmen Copper Corporation.

More stories of SM's communities can be found in the third iteration of its Integrated Report for 2022 in line with the group's Annual Stockholder's Meeting (ASM) on&nbsp;April 26, 2023. View the full report at&nbsp;<a href="https://bit.ly/2022-SMIC-IR" target="_blank" rel="nofollow">https://bit.ly/2022-SMIC-IR</a>

<h1>Paying it forward: SM marks another year of positive community impact</h1>Glenn Paul Añover Embodo is among the 'Yolanda' scholars helped by SM Foundation, Inc. of the SM Group, following the devastation of the super typhoon in the country in 2013.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/ASM_Banner_2.jpg" alt="More stories of SM’s communities can be found in the third iteration of its Integrated Report for 2022 in line with the group’s Annual Stockholder’s Meeting (ASM) on April 26, 2023."/>That's why Glenn was elated to share the good news to SM that he's now a Certified Public Accountant. This came after a long wait for the accounting licensure exams that were put on hold during the pandemic and resumed only in 2022. &nbsp;Glenn's achievement is a story that inspires SM to keep paying it forward and extend the gesture of gratitude to the different communities it serves for all the support the brand has received for over 60 years.&nbsp;SM Investments Corporation strives to create real, positive community impact not only through the accessibility of goods and services, but in the creation of socio-economic ventures leading to over 140,000 jobs created across the group in 2022."As we grow, we work to ensure that we create and share value with our partners and our communities, helping build strong social foundations," SM Investments Corporation President and CEO&nbsp;Frederic C. DyBuncio&nbsp;said.In 2022, SM's partnership with suppliers, tenants, and brand affiliates grew. Around 68 percent of SM Supermalls tenants were MSMEs, and the group provided over&nbsp;PHP62.72 billion&nbsp;outstanding loans through its banking businesses, BDO Unibank and China Banking Corporation.Developing our communitiesThe attainment of equal access to education is a commitment shared across SM. This passion continues to bridge innate Filipino potential to quality education for all.SM's School and Classroom Building Program has laid the building blocks to house future leaders, and inspiring educators, which has turned over 342 school buildings and 1,110 classrooms built and refurbished to date. The Scholarship Program has supported a total of 11,750 scholars to date.&nbsp;Working closely with the Department of Health (DOH) helped give people access to basic health services, especially in grassroots communities.The Group's efforts to empower community health have translated to the renovation and refurbishment of 317 health centers and medical facilities with 1,847 medical missions conducted to date. SM believes in the power of these centers to ensure the welfare of communities and to help reduce the impacts of health outbreaks akin to COVID-19.To date, over 6.3 million patients have been served by SM's medical missions and wellness center initiatives.This is in addition to over 10.5 million COVID-19 vaccine doses administered across 77 participating mall vaccination sites by the end of 2022.Forests of the futureSM has been a long-time advocate for environmental stewardship and recently launched the Grow Trees Community through its social good arm, SM Foundation, in partnership with the Fast Retailing Foundation.The program focuses on developing long-term reforestation by involving an ecosystem of community partners to care for all seedlings planted.SM's tree planting initiatives have resulted in over 2.6 million trees planted and maintained through SM Foundation, Belle Corporation, Hamilo Coast and Carmen Copper Corporation.More stories of SM's communities can be found in the third iteration of its Integrated Report for 2022 in line with the group's Annual Stockholder's Meeting (ASM) on&nbsp;April 26, 2023. View the full report at&nbsp;<a href="https://bit.ly/2022-SMIC-IR" target="_blank" rel="nofollow">https://bit.ly/2022-SMIC-IR</a>About SM Investments CorporationSM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.SM's retail operations are the country's largest and most diversified with its food, non-food, and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in&nbsp;the Philippines&nbsp;with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the 6th largest bank.For information, please visit&nbsp;<a href="http://www.sminvestments.com/" target="_blank" rel="nofollow">www.sminvestments.com</a>

Real Estate / Architecture / Construction

Paying it forward: SM marks another year of positive community impact

Open finance leader<a href="http://www.brankas.com/" target="_blank" rel="nofollow">&nbsp;</a><a href="http://www.brankas.com/" target="_blank" rel="nofollow">Brankas</a>&nbsp;has announced a new integration that will allow<a href="https://www.mptdrivehub.com.ph/" target="_blank" rel="nofollow">&nbsp;</a><a href="https://www.mptdrivehub.com.ph/" target="_blank" rel="nofollow">MPT DriveHub</a>&nbsp;app users in&nbsp;the Philippines&nbsp;to reload using their active Philippine bank accounts. MPT DriveHub users can now choose from a wider range of reloading options as they top up their RFID accounts, with which their transaction history can be accessed too. Brankas and MPT Mobility expect the new integration to attract new app users, who will benefit from lower service fees when reloading through the app.

MPT Mobility, the innovations arm of Metro Pacific Tollways Corporation (MPTC), enables Filipinos to travel more easily through its efficient, effective, and modern mobility solutions through one of its arms — MPT DriveHub, an all-in-one travel companion app that offers a variety of mobility solutions to improve motorists' travel experience.

"Lower service fees are part of the brand's commitment to improving the user experience within the app and making real-time reloading more accessible and convenient. We listen to our motorists' needs and act on what we can, harnessing our resources and the power of digital technology." said&nbsp;Gines M. Barot, AVP for MPT DriveHub Operations.

Brankas' APIs are used by companies offering e-wallets, online shopping checkout, lending services, insurance, and wealth management.<a href="https://www.brankas.com/direct" target="_blank" rel="nofollow">&nbsp;</a><a href="https://www.brankas.com/direct" target="_blank" rel="nofollow">Brankas Direct</a>&nbsp;enables collections and retail "cash-in" for e-commerce, fund transfers, and recurring subscriptions. In MPT DriveHub, Brankas Direct gives users a seamless RFID reloading experience without needing to leave the mobile app.

"Our mission at Brankas is to provide modern and secure open finance technology that empowers our partners to create world-class solutions. The new bank integrations allow MPT Mobility to serve more motorists in&nbsp;the Philippines&nbsp;through more reloading options. In the spirit of financial inclusion, Brankas is proud to be contributing to the widespread adoption of the MPT DriveHub app," said&nbsp;Todd Schweitzer, Brankas CEO and Co-founder.

In addition to providing digital payment solutions for a tollway company, Brankas' open finance solutions are used in ride-hailing, agriculture, insurance, and healthcare companies to power digital transformation. This diverse range of open finance industry applications was also displayed at the<a href="https://blog.brankas.com/brankas-and-kaya-founders-pave-way-for-financial-inclusion-via-inaugural-open-phinance-challenge-2022" target="_blank" rel="nofollow">&nbsp;</a><a href="https://blog.brankas.com/brankas-and-kaya-founders-pave-way-for-financial-inclusion-via-inaugural-open-phinance-challenge-2022" target="_blank" rel="nofollow">Open PHinance Challenge</a>&nbsp;in 2022, which saw applicants from industries including public utility vehicles (DyipPay), HR (Betterteem), and farming (Cropital). The 8-week accelerator program in&nbsp;the Philippines&nbsp;was launched by Brankas and Kaya Founders.

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas' secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

About the Metro Pacific Tollways Corporation

Metro Pacific Tollways Corporation (MPTC) is in the business of developing and operating toll roads in&nbsp;the Philippines,&nbsp;Indonesia&nbsp;and&nbsp;Vietnam. It is the biggest toll road developer in&nbsp;the Philippines, with a current portfolio of tollways that includes the North Luzon Expressway (NLEX), the&nbsp;Subic-Clark-Tarlac Expressway (SCTEX), the Manila-Cavite Toll Expressway (CAVITEX), Cavite-Laguna Expressway (CALAX), Cebu-Cordova Link Expressway (CCLEX) and the NLEX Connector Road (NLEX Connector).&nbsp;&nbsp;

MPT Mobility houses products and services to satisfy the customers' mobility needs and enhance their experience. It has seven business units under its fold, namely account management company Easytrip Services Corp., centralized customer response organization One Hub, expressway rest stop firm MPT Drive &amp; Dine, outsourced manpower provider Southbend Express Services Inc., out of home advertising unit Spot On, parking solutions company Dibz, and innovation and diversification unit Business Development. MPT Mobility also maintains and operates the tollway group's newest mobile application, MPT DriveHub.

The new mobility app from MPT Mobility is set to change the way Filipinos look at driving. With features like easy real-time RFID reloading and tap and track account management, and emergency roadside assistance, drivers and motorists can look forward to smoother rides.

<a href="mailto:yiyang.teo@brank.as" target="_blank" rel="nofollow">yiyang.teo@brank.as</a>&nbsp;

<h1>Brankas and MPT Mobility enable instant toll reloading in the Philippines via bank accounts</h1>Open finance leader<a href="http://www.brankas.com/" target="_blank" rel="nofollow">&nbsp;</a><a href="http://www.brankas.com/" target="_blank" rel="nofollow">Brankas</a>&nbsp;has announced a new integration that will allow<a href="https://www.mptdrivehub.com.ph/" target="_blank" rel="nofollow">&nbsp;</a><a href="https://www.mptdrivehub.com.ph/" target="_blank" rel="nofollow">MPT DriveHub</a>&nbsp;app users in&nbsp;the Philippines&nbsp;to reload using their active Philippine bank accounts. MPT DriveHub users can now choose from a wider range of reloading options as they top up their RFID accounts, with which their transaction history can be accessed too. Brankas and MPT Mobility expect the new integration to attract new app users, who will benefit from lower service fees when reloading through the app.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/Brankas_MPT_Mobility_enable_instant_toll_reloading_Philippines_bank_accounts.jpg" alt="Brankas and MPT Mobility enable instant toll reloading in the Philippines via bank accounts"/>MPT Mobility, the innovations arm of Metro Pacific Tollways Corporation (MPTC), enables Filipinos to travel more easily through its efficient, effective, and modern mobility solutions through one of its arms — MPT DriveHub, an all-in-one travel companion app that offers a variety of mobility solutions to improve motorists' travel experience."Lower service fees are part of the brand's commitment to improving the user experience within the app and making real-time reloading more accessible and convenient. We listen to our motorists' needs and act on what we can, harnessing our resources and the power of digital technology." said&nbsp;Gines M. Barot, AVP for MPT DriveHub Operations.Brankas' APIs are used by companies offering e-wallets, online shopping checkout, lending services, insurance, and wealth management.<a href="https://www.brankas.com/direct" target="_blank" rel="nofollow">&nbsp;</a><a href="https://www.brankas.com/direct" target="_blank" rel="nofollow">Brankas Direct</a>&nbsp;enables collections and retail "cash-in" for e-commerce, fund transfers, and recurring subscriptions. In MPT DriveHub, Brankas Direct gives users a seamless RFID reloading experience without needing to leave the mobile app."Our mission at Brankas is to provide modern and secure open finance technology that empowers our partners to create world-class solutions. The new bank integrations allow MPT Mobility to serve more motorists in&nbsp;the Philippines&nbsp;through more reloading options. In the spirit of financial inclusion, Brankas is proud to be contributing to the widespread adoption of the MPT DriveHub app," said&nbsp;Todd Schweitzer, Brankas CEO and Co-founder.In addition to providing digital payment solutions for a tollway company, Brankas' open finance solutions are used in ride-hailing, agriculture, insurance, and healthcare companies to power digital transformation. This diverse range of open finance industry applications was also displayed at the<a href="https://blog.brankas.com/brankas-and-kaya-founders-pave-way-for-financial-inclusion-via-inaugural-open-phinance-challenge-2022" target="_blank" rel="nofollow">&nbsp;</a><a href="https://blog.brankas.com/brankas-and-kaya-founders-pave-way-for-financial-inclusion-via-inaugural-open-phinance-challenge-2022" target="_blank" rel="nofollow">Open PHinance Challenge</a>&nbsp;in 2022, which saw applicants from industries including public utility vehicles (DyipPay), HR (Betterteem), and farming (Cropital). The 8-week accelerator program in&nbsp;the Philippines&nbsp;was launched by Brankas and Kaya Founders.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/Brankas_API_reloading_MPT_DriveHub.jpg" alt="Brankas API reloading on MPT DriveHub"/>About BrankasBrankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas' secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.About the Metro Pacific Tollways CorporationMetro Pacific Tollways Corporation (MPTC) is in the business of developing and operating toll roads in&nbsp;the Philippines,&nbsp;Indonesia&nbsp;and&nbsp;Vietnam. It is the biggest toll road developer in&nbsp;the Philippines, with a current portfolio of tollways that includes the North Luzon Expressway (NLEX), the&nbsp;Subic-Clark-Tarlac Expressway (SCTEX), the Manila-Cavite Toll Expressway (CAVITEX), Cavite-Laguna Expressway (CALAX), Cebu-Cordova Link Expressway (CCLEX) and the NLEX Connector Road (NLEX Connector).&nbsp;&nbsp;MPT Mobility houses products and services to satisfy the customers' mobility needs and enhance their experience. It has seven business units under its fold, namely account management company Easytrip Services Corp., centralized customer response organization One Hub, expressway rest stop firm MPT Drive &amp; Dine, outsourced manpower provider Southbend Express Services Inc., out of home advertising unit Spot On, parking solutions company Dibz, and innovation and diversification unit Business Development. MPT Mobility also maintains and operates the tollway group's newest mobile application, MPT DriveHub.About MPT DriveHubThe new mobility app from MPT Mobility is set to change the way Filipinos look at driving. With features like easy real-time RFID reloading and tap and track account management, and emergency roadside assistance, drivers and motorists can look forward to smoother rides.CONTACT:&nbsp;Yiyang Teo<a href="mailto:yiyang.teo@brank.as" target="_blank" rel="nofollow">yiyang.teo@brank.as</a>&nbsp;

Mobile app

Brankas and MPT Mobility enable instant toll reloading in the Philippines via bank accounts

Philippine economic growth is expected to moderate this year from 2022’s forecast-beating outturn but will remain on a healthy expansion mode, underpinned by rising domestic demand and a recovery in services particularly tourism, according to a new report released by the Asian Development Bank (ADB) today.

ADB’s flagship economic publication&nbsp;<a href="https://www.adb.org/outlook" target="_blank">Asian Development Outlook (ADO) April 2023</a>&nbsp;forecasts the Philippine economy to grow by 6.0 per cent this year, climbing further by 6.2 per cent in 2024. A recovery in employment and retail trade, sustained expansion in the manufacturing sector, and rising public infrastructure spending will support growth.&nbsp;

However, risks from a sharper-than-expected slowdown in major advanced economies, heightened geopolitical tensions, and inflation stickiness could dampen the outlook for gross domestic product (GDP) growth.&nbsp;

“The Philippines will grow at its potential this year and next and is on track toward its goal to become an upper middle-income country,” said ADB Philippines Country Director Kelly Bird. “Like most other economies, the Philippines will be increasingly challenged by the impacts of climate change and the effects of emerging technologies on the labour market.”&nbsp;

“Key to sustaining a strong growth momentum is keeping public infrastructure spending at levels above 5.0 per cent of GDP, as the government has planned for this year and in the medium term. High-impact infrastructure projects that will help connect communities to markets and public services and provide access to jobs and livelihood will help increase rural incomes and support inclusive growth,” he said.

Inflation is expected to average 6.2 per cent in 2023 before easing to 4.0 per cent in 2024, according to the report. Local food supply constraints and rising global commodity prices led to high inflation rates in early 2023. Inflation is projected to decelerate in the second half of 2023 and through 2024 as the series of monetary policy tightening take effect and global commodity prices ease.&nbsp;

The country’s unemployment rate improved to 4.8 per cent in January 2023 from 6.4 per cent in the same period a year earlier, even lower than pre-pandemic levels. Some 4.1 million jobs were added over the year, mainly from the services sector as the tourism started to rebound from the COVID-19 pandemic. This bodes well for sustained private consumption, which should get an additional boost from steady remittances from overseas Filipino workers (OFWs).

The current account deficit is forecast to narrow, in part due to strong service exports, particularly from business process outsourcing, recovery in tourism receipts, and higher OFW remittances. Robust domestic demand will continue to drive imports of both consumer and capital goods.

Despite impressive gains in economic growth and poverty reduction, the country faces the challenge of addressing climate change and risks to food security, especially for the bottom two income deciles, as malnutrition and hunger incidence persist, the report says.&nbsp;

The challenge requires a multipronged approach that considers both supply and demand factors. This includes addressing bottlenecks in local food production and agricultural productivity and trade and raising household incomes and incentives for better health and nutritional outcomes. Social protection, including food voucher programs, play a central role in alleviating poverty and hunger, says the report.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

<h1>ADB: Philippine economy to post robust growth in 2023, 2024 despite inflation pressures</h1>Philippine economic growth is expected to moderate this year from 2022’s forecast-beating outturn but will remain on a healthy expansion mode, underpinned by rising domestic demand and a recovery in services particularly tourism, according to a new report released by the Asian Development Bank (ADB) today.ADB’s flagship economic publication&nbsp;<a href="https://www.adb.org/outlook" target="_blank">Asian Development Outlook (ADO) April 2023</a>&nbsp;forecasts the Philippine economy to grow by 6.0 per cent this year, climbing further by 6.2 per cent in 2024. A recovery in employment and retail trade, sustained expansion in the manufacturing sector, and rising public infrastructure spending will support growth.&nbsp;However, risks from a sharper-than-expected slowdown in major advanced economies, heightened geopolitical tensions, and inflation stickiness could dampen the outlook for gross domestic product (GDP) growth.&nbsp;“The Philippines will grow at its potential this year and next and is on track toward its goal to become an upper middle-income country,” said ADB Philippines Country Director Kelly Bird. “Like most other economies, the Philippines will be increasingly challenged by the impacts of climate change and the effects of emerging technologies on the labour market.”&nbsp;“Key to sustaining a strong growth momentum is keeping public infrastructure spending at levels above 5.0 per cent of GDP, as the government has planned for this year and in the medium term. High-impact infrastructure projects that will help connect communities to markets and public services and provide access to jobs and livelihood will help increase rural incomes and support inclusive growth,” he said.Inflation is expected to average 6.2 per cent in 2023 before easing to 4.0 per cent in 2024, according to the report. Local food supply constraints and rising global commodity prices led to high inflation rates in early 2023. Inflation is projected to decelerate in the second half of 2023 and through 2024 as the series of monetary policy tightening take effect and global commodity prices ease.&nbsp;The country’s unemployment rate improved to 4.8 per cent in January 2023 from 6.4 per cent in the same period a year earlier, even lower than pre-pandemic levels. Some 4.1 million jobs were added over the year, mainly from the services sector as the tourism started to rebound from the COVID-19 pandemic. This bodes well for sustained private consumption, which should get an additional boost from steady remittances from overseas Filipino workers (OFWs).The current account deficit is forecast to narrow, in part due to strong service exports, particularly from business process outsourcing, recovery in tourism receipts, and higher OFW remittances. Robust domestic demand will continue to drive imports of both consumer and capital goods.Despite impressive gains in economic growth and poverty reduction, the country faces the challenge of addressing climate change and risks to food security, especially for the bottom two income deciles, as malnutrition and hunger incidence persist, the report says.&nbsp;The challenge requires a multipronged approach that considers both supply and demand factors. This includes addressing bottlenecks in local food production and agricultural productivity and trade and raising household incomes and incentives for better health and nutritional outcomes. Social protection, including food voucher programs, play a central role in alleviating poverty and hunger, says the report.ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.