By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
MANILA, Philippines – Pawning and money transfer giant Palawan Group of Companies said its remittance business remained resilient in the first half despite the recent slowdown in remittances from overseas Filipino workers (OFWs).
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances coursed through banks rose 2 percent year on year to $2.71 billion in May, the slowest growth in four years. In value terms, remittances were also at their lowest level in a year, since the $2.66 billion recorded in May 2025.
READ: PH remittance growth stayed at 4-year low in May
Even so, Lilian Castro-Selda, vice chair and chief financial officer of the Palawan Group, said the company’s remittance business has seen no major disruption.
