PNB net income up 21% to P5.7 billion from January to September
Earnings of Lucio Tan-led Philippine National Bank (PNB) grew by a fifth for the period of January to September driven by significant gains in its trading business and core revenues.
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Earnings of Lucio Tan-led Philippine National Bank (PNB) grew by a fifth for the period of January to September driven by significant gains in its trading business and core revenues.
China Banking Corp. (China Bank) announced on Monday the launch of its high-yield deposit notes designed to underwrite its strategic initiatives and business growth going forward.
Rizal Commercial Banking Corp. (RCBC) reported lower preliminary net earnings in the first nine months of only P3.50 billion from year-ago profits reaching P3.62 billion. This developed in the wake of the hugely punitive fine of P1 billion imposed on the lender by the Bangko Sentral ng Pilipinas (BSP) for its role in the $81-million Bangladesh Bank cyber heist in March.
Operating expenses increased by 29 percent to P52.8 billion, which reflects the consolidation of One Network Bank and BDO Life Insurance operations. On a comparable basis net of these new businesses, operating expenses would have grown by only 12 percent in line with the Bank’s continued business expansion.”—BDO
Although the Philippines has started the transition toward cashless transactions, awareness of the shift is considered insufficient to compel the move from a cash-dependent modes of payment to a cash-light economy, according to a report launched by electronic payment (e-payment) portal ePay Pilipinas.
Ty family-led Metropolitan Bank & Trust Co. (Metrobank) announced the early close of the offer period of its seven-year long-term negotiable certificates of deposit (LTNCDs) due to oversubscription.
The Bank of the Philippine Islands (BPI) has launched beep-enabled prepaid cards optimized for easy access to transportation services across Metro Manila and targeted at the young, on-the-go market.
THE Philippine National Bank (PNB) posted higher earnings in the first six months, buoyed by gains from its lending and trading operations.
EASTWEST Banking Corp. (EastWest Bank) reported net income of more than half last year’s net earnings on the back of sustained growth on its core businesses composed of loans and deposits.
The Bangko Sentral ng Pilipinas (BSP) has recognized Metrobank subsidiary Philippine Savings Bank (PSBank), among other banks, for excellence in addressing and responding to client concerns.
The driving force behind big business often are the chief financial officers (CFOs) who confront head-on whatever challenge the market environment throws at them, according to local investment holding firm Pure Energy Holdings Corp.
EARLY signs the government under President-elect Rodrigo R. Duterte will engage in an infrastructure buildup program and spend well above the budget this year is driving optimism the local output, measured as the GDP, should grow more or less 7 percent, according to Maybank ATR Kim Eng Securities.
International equity investment platform TPG Growth announced an agreement to secure two-fifths of the stake in One Network Bank (ONB), the rural-bank subsidiary of BDO Unibank Inc.
The largest banking network in the Philippines emerged as the most awarded Philippine bank at the recently concluded 10th Annual Alpha Southeast Asia Best Financial Institution Awards.
The country’s top financial executives are banking on the incoming administration’s support to modernize the Philippine telecommunications infrastructure to fuel economic growth. George S. Chua, Finex president, told the BusinessMirror on the sidelines of the group’s general membership meeting that advanced telecom infrastructure remains a vital part of growth, not only for the country’s economy but for its financial institutions, as well.
China Bank Capital Corp., (CBCC), the investment house of China Banking Corp., announced on Thursday its plan to establish a stock-brokerage house and a special-purpose corporation (SPC).
CityState Savings Bank looks to ramp up its lending operations to the small and medium entrepreneur or SME sector as part of the broad effort to escalate its financial footprint over the next five years.
Union Bank of the Philippines (UnionBank) vowed to ramp up its digital banking presence, as it projects a dwindling number of physical bank branches over the medium term.
The largest agent network of Western Union in the Philippines, Petnet, on Thursday unveiled its new brand name—Pera Hub—less than a year after Aboitiz Equity Ventures acquired majority ownership of the financial services company.
The United Coconut Planters Bank (UCPB) on Tuesday reported a 51-percent jump in first quarter net income to P929 million on the back of robust growth in deposits and consumer loans.
Following the Philippines’s commendable economic performance in 2015, experts believe that foreign direct investments (FDI) will play a key role in the stability and growth of the country’s
economy this year.
FOLLOWING the capital infusion from Japan’s biggest banking group, Security Bank Corp. is optimistic of continued profitability this year, even as it also focuses on investment in the retail market.
THE Bank of the Philippine Islands (BPI), the oldest bank in the Philippines and in Southeast Asia, launched its own index series on Monday to measure the performance of the Philippine financial market.
Having earlier posted an increase in net income last year, BDO Unibank was off to a sluggish start in the first three months this year.
Second of three parts
The revitalization of the Philippine textile industry was one of the major points of discussion at a stakeholders’ conference held in Taguig City by the Philippine Textile Research Institute (PTRI) on January 28.
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