Finance Secretary Ralph G. Recto hailed government securities-eligible dealers (GSEDs) for their pivotal role in raising funds for public projects and driving financial inclusion among Filipinos.
Speaking at the Bureau of the Treasury’s 127th Anniversary and GSED Awarding Ceremony on Nov. 12, Recto highlighted the PHP 586.84 billion raised in 2024 from the 30th Retail Treasury Bond (RTB) offering, the largest amount secured in the program’s history.
“This was the highest amount ever obtained of all our RTBs, fulfilling over a fifth of our financing requirement for the year in a cost-effective manner. For this historic feat, I commend our GSEDs, especially the top 10 of them, for relentlessly reaching out to our investing public, especially our retail sector and ordinary Filipinos,” he said.
The top-performing GSED in 2024 was Metropolitan Bank and Trust Company (Metrobank), followed by Banco de Oro Universal Bank (BDO), Bank of the Philippine Islands (BPI), and others, including government banks like Land Bank of the Philippines and Development Bank of the Philippines.
The GSEDs also supported global fundraising efforts, helping the government secure USD 4.5 billion through international bond issuances.
Recto underscored the government’s commitment to modernizing the capital market, announcing the December launch of GBonds, an innovative partnership with GCash. The digital platform will allow Filipinos to invest in government securities conveniently via their smartphones.
“For we envision a future where investing in government bonds is no longer a luxury but a new normal for Filipinos—with just a few swipes away and as easy as ordering their favorite food delivery. This empowers our people to effortlessly secure their future, all from the comfort of their homes,” he said.
Recto called on digital platforms like GCash and Philippine Digital Asset Exchange (PDAX), as well as regulators, to expedite the rollout of GBonds, emphasizing their potential to bring the government closer to its financial inclusion goals.
Underpinning these initiatives is the recent enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. Recto said the law is designed to attract investments that create jobs, increase incomes, and combat poverty.
“And rest assured, we will use every peso invested by our people in government bonds for public projects and programs that ensure prosperity for their lives and the future of their children,” he assured.
To sustain momentum, the Bureau of the Treasury unveiled its Enhanced Primary Dealer System, which tasks GSEDs with enhancing their market-making roles in both primary and secondary markets.
National Treasurer Sharon P. Almanza, SEC Commissioner Bryant Fernandez, and BSP Assistant Governor Lyn Javier were among the key officials who attended the event.
Recto encouraged GSEDs to stay resilient and innovative as drivers of economic growth. “Together, let us transform our capital market as a means for every business and every Filipino to be shareholders in the country’s inclusive growth,” he concluded.
