The assessment report released on February 12, 2026 highlighted the country’s strong macroeconomic fundamentals, sound regulatory framework, and resilient financial system.

“Moody’s assessment affirms that the Philippines is on the right track. We will continue to uphold fiscal discipline, accelerate strategic investments, and fast track reforms toward sustainable growth,” Secretary Go said in a news release dated Feb. 17.

According to Moody’s assessment, the Philippines’ Baa2 rating is supported by strong access to domestic and international funding markets, a stable banking system, and ample foreign currency reserves to cushion the impact of global market volatility.

Moreover, Moody’s is confident that the Philippines will maintain resilient economic growth compared to its regional and rating peers.

Growth momentum will be fueled by strong household consumption, overseas workers’ remittances, accelerated public investment, and ongoing structural reforms.

Moody’s also noted that the government’s fiscal consolidation remains on track, gradually reducing fiscal deficit from an estimated 5.6% of GDP in 2025 to 4.3% by 2028, supported by reforms to improve revenue collection and spending efficiency.

Despite external challenges, the government’s policy and fiscal management remain relatively strong.

To protect the country’s credit standing, Moody’s recommends sustaining reforms that have strengthened the economy, noting that a steady flow of public and private investments could also help growth exceed expectations.

Under the leadership of Secretary Go, the Department of Finance (DOF) will continue to advance fiscal reforms and strategic policy measures to achieve a credit rating upgrade for the Philippines.

The bank’s strategy of connecting Filipinos locally and overseas through digital channels delivered robust multi-year results, posting five-year compound annual growth rates of 111.26 percent for DiskarTech, 50.88 percent for RCBC Pulz, and 28.42 percent for ATM Go.

RCBC Pulz, the country’s first digital banking application that allows Filipinos worldwide to open an account using a single international mobile number and one valid government-issued ID, recorded a 59 percent increase in transaction volume and a 48 percent rise in gross transaction value in 2025. Transactions coursed through InstaPay likewise expanded by 59 percent during the year.

DiskarTech, RCBC’s mass-market digital banking platform, continued to scale rapidly. Combined transaction volume from its Basic Deposit Account and Regular Savings Account (RSA) rose by 22 percent. Growth was largely driven by RSAs, which posted a 45,097 percent surge in transaction volume, a 10,362 percent increase in gross transaction value, and an 18,042 percent rise in customer deposits.

The expansion was supported by the rollout of MySSS Mastercard-powered debit card accounts. Comparing daily average user onboarding before the card’s launch from January to September 2025 with the period following its introduction from October to December, DiskarTech account openings jumped by 963 percent.

ATM Go, RCBC’s bank-agnostic, last-mile and community-based automated teller machine network, maintained full nationwide coverage across all Philippine provinces and cities. The platform recorded a 21 percent increase in transaction volume and a 23 percent rise in gross transaction value, reinforcing the bank’s efforts to extend formal banking access to rural and underserved communities.

RCBC also posted strong growth in digital lending. Gross transaction value climbed by 87 percent, while transaction volume increased by 39 percent. Digital loans now account for 65 percent of the bank’s total unsecured loans portfolio, achieved just one and a half years after launch.

“This performance reflects disciplined execution and our focus on using digital channels to deliver practical solutions at scale,” said Lito Villanueva, RCBC executive vice president and chief innovation and inclusion officer. “Our priority remains expanding access, improving efficiency, and ensuring that digital banking creates measurable value for customers, communities, and the broader financial system.”

As the fifth-largest privately owned bank in the Philippines by assets, RCBC continued to strengthen its cross-border banking capabilities, particularly for overseas Filipino workers and migrants requiring efficient international payment and account services.

In 2025, RCBC Pulz partnered with US-based payments solutions provider Meridian to introduce the country’s first US virtual account offered by a private universal bank. The service caters to freelancers, remote workers, outsourced professionals, and digital nomads, allowing them to receive earnings and convert funds into Philippine pesos or any of eight supported foreign currencies directly within the Pulz app.

DiskarTech further advanced its role in inclusive finance after becoming the first digital banking platform studied by Mastercard in relation to sustainable finance developments in Asia. Following the study, RCBC expanded access for Social Security System members through the rollout of the MySSS Mastercard-powered debit card.

The MySSS card has the potential to serve more than 42 million SSS members, enabling retail transactions across the Mastercard network while providing access to MySSS digital services and DiskarTech banking features through a single card and application.

RCBC also expanded ATM Go’s footprint through partnerships with government agencies, including the Department of Tourism. The initiative allows entrepreneurs in rural and tourism-focused areas to earn income by facilitating cash withdrawals for domestic and foreign tourists using internationally issued debit cards. This complements the bank’s continued rollout of QR-enabled cardless withdrawals and the expansion of digital access points through money service business partners nationwide.

As the first Philippine bank to offer this capability, RCBC allows customers to open and manage a U.S. virtual account directly within the Pulz app. Funds sent from any U.S. bank reflect instantly in users’ linked RCBC peso accounts, removing the delays, high fees, and complicated processes of traditional cross-border money transfers.

“RCBC has always been about breaking barriers and building bridges, especially for the millions of Filipinos with strong ties abroad,” RCBC President and CEO Reggie Cariaso said. “Through this partnership with Meridian, we are enabling every Filipino — whether a freelancer or an entrepreneur — to connect directly to the U.S. economy. This is financial inclusion made real.”

With an estimated US$36 billion in annual remittances flowing into the Philippines, RCBC’s new offering aims to modernize how Filipinos receive money from the U.S., providing a faster, more transparent, and more cost-efficient alternative to conventional remittance channels.

“Global payments often take hours or even days, with fees taking away from what people actually receive,” said Meridian CEO Will Haering. “By partnering with RCBC, we’re creating a seamless, compliant, and secure bridge that lets Filipinos enjoy the same speed and convenience that U.S.-based users experience locally.”

Unlike typical digital banking products that simply support remittances, the RCBC Pulz U.S. Virtual Account provides direct access to local U.S. payment rails — traditionally reserved for U.S. residents. Users can receive up to US$10,000 per month, enabling more efficient and secure management of cross-border earnings.

“This innovation puts RCBC ahead in the region’s digital banking race,” said RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva. “We’re not just digitizing existing services; we’re redesigning how money moves across borders. This brings us closer to a truly borderless financial ecosystem.”

The initiative also gained support from the government, aligning with the country’s digital transformation agenda.

“This innovation aligns perfectly with the DICT’s mission to build a safe, reliable, and digitally empowered nation anchored on strengthening cybersecurity, ensuring affordable data access, and driving digital innovations that uplift lives,” said Department of Information and Communications Technology Secretary Henry Aguda.

The timing is significant as more Filipino freelancers, gig workers, and professionals now serve U.S.-based clients, and over four million Filipinos live and work in the United States. The demand for flexible, affordable, and secure ways to receive and manage earnings continues to grow.

Starting November 11, Filipinos can create their U.S. virtual account directly through the RCBC Pulz app, allowing them to receive payments in U.S. dollars and convert them to pesos with the same ease as their regular accounts. Families in the Philippines can also receive support more quickly, without the long waits and conversion losses associated with traditional remittance services.

RCBC has earned wide recognition for its digital-first innovations through platforms such as RCBC Pulz, DiskarTech, and ATM Go, which strengthen financial inclusion nationwide.

“We are proud to partner with RCBC as the first bank bringing this transformative payment innovation to life and making U.S. accounts available across the Philippines,” Haering added. “Our shared vision is to eliminate borders in banking so global payments become local.”

“Banking should move at the speed of life,” Villanueva said. “This partnership with Meridian is more than a new product — it’s a promise to every Filipino that wherever you are in the world, your financial future is within reach.”

The Department of Migrant Workers (DMW) led a solemn remembrance for the Filipino heroes who perished during the October 7, 2023, Hamas terror attacks in Israel, a tragedy that claimed over 1,200 innocent lives and saw 254 people taken hostage. Among the fallen were Overseas Filipino Workers (OFWs) who embodied the highest form of courage and devotion—choosing not to abandon their employers even in the face of certain death.

DMW Secretary Hans Leo Cacdac paid tribute to these Filipino migrant workers, whose heroism, he said, transcends borders and defines what it means to serve with compassion. He emphasized that their bravery and selflessness have become enduring symbols of the Filipino spirit—steadfast, caring, and loyal even amid terror.

“The lives of the Israelis and Filipinos lost that day will live on—their bravery and compassion remain forever in our hearts,” Cacdac said, recalling how Filipino workers stood by their employers during the assault, some shielding them from harm until their final moments.

Two years since the tragedy, grief continues to weigh heavily on survivors and families of those who perished. Yet amid sorrow, Cacdac said, there also shines a powerful light of hope and resilience, seen in the new lives and families rebuilt after the tragedy—living testaments to the courage of the Filipino people.

The DMW chief also reaffirmed President Ferdinand R. Marcos Jr.’s directive to uphold a government founded on empathy, compassion, and action, ensuring that every Filipino worker abroad is not only protected but honored. “Our OFWs and their families can withstand any measure of adversity,” he said, adding that the DMW remains committed to turning compassion into concrete outcomes for migrant workers worldwide.

The ceremony also paid homage to the enduring friendship between the Philippines and Israel, strengthened through shared experiences of loss and solidarity. Cacdac recalled the cooperation between both nations during the height of the crisis, describing it as a partnership built on courage, coordination, and deep humanity.

A poignant part of the event was the presentation of the book “One Day in October: 40 Heroes, 40 Stories,” which chronicles the lives and sacrifices of those who lived through the Hamas attacks. One chapter tells the story of Filipina OFW Camille Toro Minza, who vowed to protect her employers until her last breath. This story mirrors the selfless devotion of many Filipino workers that day.

Beyond their heroism during crises, Cacdac stressed that OFWs are the nation’s modern-day heroes—not only because of their vital economic contributions through remittances, but also because of their immense personal sacrifices and role as cultural ambassadors who uplift the image of the Philippines abroad.

“Despite hardship and separation, our OFWs continue to inspire us. Their courage during the darkest of days, and their resilience every day, remind us what it truly means to be Filipino,” Cacdac said.

The session, co-led by the Philippines, China, and other developing nations, brought together WTO Members, international organizations, and private sector leaders to explore how trade disciplines can support financial inclusion, enhance cross-border payment interoperability, and reduce remittance costs.

Representing the private sector, Lito Villanueva, Founding Chairman of FinTech Alliance PH and Executive Vice President & Chief Innovation and Inclusion Officer of RCBC, presented the Philippine experience in building a robust digital payments ecosystem.

“Technology only matters if it empowers people, and empowerment only endures when built on trust,” Villanueva said.

He cited the Bangko Sentral ng Pilipinas Digital Payments Transformation Roadmap (2020–2023) and Open Finance Framework (2021) as key to achieving the “80 by 80 Vision” — targeting 80% of adults with digital accounts and 80% of retail transactions digitalized by 2028.

Villanueva also highlighted RCBC’s partnerships with the Commission on Filipinos Overseas and the Department of Migrant Workers to promote financial literacy and widen access to affordable remittance channels for overseas Filipinos.

The Philippines’ active role in the ASEAN Regional Payment Connectivity initiative and rollout of the QR PH standard, now being linked with other ASEAN QR systems, was cited as a model for regional payment interoperability that benefits small businesses and consumers.

Minister and Deputy Permanent Representative Gabriel R. Bautista said the WTO’s work can complement national reforms, noting, “Openness, interoperability, and proportionate regulation are the building blocks of financial inclusion. By sharing the Philippine model, we help ensure trade disciplines deliver real outcomes — lowering remittance costs and empowering digital entrepreneurs.”

The Philippine Mission vowed to continue advancing a development-oriented agenda on digital payments and financial inclusion, in line with its ASEAN Chairship priorities in 2026.

“With BPI Remit, we make sending and receiving money between the US and the Philippines faster, more secure, and more rewarding,” said Joel De Vera, BPI Institutional Banking’s Head of Strategy, Products & Support Group, in a news release.

“As we anticipate our 175th anniversary next year, we remain committed to serving Filipino families and helping them feel closer to their loved ones abroad, no matter the distance,” De Vera added.

For remitters abroad

BPI Remit empowers Filipinos in the US to do more for their families with convenience and peace of mind. Senders can transfer funds directly from a US bank account to a BPI account in the Philippines through the BPI mobile app or online. Each transfer includes a fixed fee of just US$1 for amounts below US$250, and free of charge for transfers above US$250. Current transaction limits are US$700 daily and weekly, and US$1,000 monthly.

Funds are transferred within seconds, and users can easily track their transactions via the BPI app or online. SMS notifications are also sent to confirm when a transfer is initiated and completed, ensuring transparency and security.

To further reach out to the Filipino community in the US, BPI recently sponsored the Sofronio Vasquez concert, winner of season 26 of The Voice. Attendees were introduced to BPI Remit and learned how it could help them support their families back home more conveniently.

For families in the Philippines

Families receiving remittances can instantly access funds through their BPI accounts, check balances via the BPI app or online, and enjoy competitive exchange rates that make the most of every dollar sent. The Bank continues to be a trusted bridge connecting overseas Filipinos and their loved ones in the Philippines.

Working with a strong network of remittance partners, BPI ensures that every transfer is seamless and secure, allowing families to focus on what truly matters: staying connected and building a better future together.

To learn more or start sending with BPI Remit, visit bpi.com.ph/remit/US.