LandBank nets lower income, at P17.1B; ROE surges 10.8%
THE Land Bank of the Philippines saw its net income last year drop by 7 percent to P17.1 billion but still posting an above-average return on equity of 10.80 percent.
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THE Land Bank of the Philippines saw its net income last year drop by 7 percent to P17.1 billion but still posting an above-average return on equity of 10.80 percent.
THE Department of Budget and Management (DBM) said there is now only P3.19 billion left unreleased under the P165.5 billion Republic Act (RA) 11494 (Bayanihan to Recover as One Act) or Bayanihan (solidarity) 2.
THE Bangko Sentral ng Pilipinas (BSP) announced last Thursday that it will release the guidelines for the public purchase of the 5,000-peso Lapulapu Commemorative Banknote and Medal in March.
THIS is the question many associations are now pondering on: whether to organize this year’s events—meetings, training programs, conferences and exhibitions—on a hybrid format or not, as the pandemic shows no let up. The other question, of course, is, “Are associations hybrid-ready?”
BANK lending is not expected to pick up anytime soon as corporates press pause on investment and expansion plans amid uncertainties in governance of the pandemic, a British financial services firm said.
THE Bankers Association of the Philippines (BAP) threw support behind the memorandum of the Bangko Sentral ng Pilipinas (BSP) about the new charging model for automated teller machine (ATM) transactions.
BOARDING officer of the Bureau of Customs (BOC) were assured by Finance Secretary Carlos G. Dominguez III they will be prioritized in the country’s vaccination program.
THE unit of a wholly owned subsidiary of Globe Telecom Inc. announced the taxes it paid via its platform soared by 286 percent in 2020.
THE Federal Reserve is at risk of getting schooled in a classic adage: Be careful what you wish for.
THE Union Bank of the Philippines (UnionBank) announced on Wednesday that it acquired majority ownership in a Batangas-based thrift bank through its wholly owned subsidiaries.
SINGAPORE-headquartered insurance technology firm Axinan Pte. Ltd. announced last February 9 an official partnership with Philippines-based insurance broker Philpacific Insurance Brokers Inc. (Philinsure).
THE holiday boost may have provided some relief to the banking sector, which recorded a decline in bad loans by the end of 2020.
THE Supreme Court has affirmed the notices of disallowances issued by the Commission on Audit (COA) covering birthday gifts and other benefits granted by the Philippine Health Insurance Corp. (PhilHealth) Board of Directors to its personnel in 2007 to 2008 amounting to P204.07 million.
AS of this writing, the Corporate Recovery and Tax Incentives (Create) bill is still waiting to be signed by President Duterte after it has already been approved by both houses of Congress. When approved, among its important feature is the reduction of the corporate tax to 20 percent to 25 percent effective July 2020.
Pork prices—which are expected to continue rising in the coming months—will push inflation above the government target band of 2.0 percent to 4.0 percent for most of this year, according to a research by a German financial services firm.
THE economic risk trend for banks operating in the Philippines remains “negative,” an international credit watcher said, bucking the trend of a perceived more stable economic environment in Asia Pacific in 2021.
THE Bureau of the Treasury raised P24 billion after auctioning off Treasury Bills (T-bills) on Monday as rates continue to follow a downtrend path.
The Department of Environment and Natural Resources (DENR) plans to tap the Green Financing Program (GFP) of the Development Bank of the Philippines (DBP) to fill up the financing gap in the establishment of some 300 sanitary landfills across the country.
BDO Unibank Inc. said its corporate social responsibility unit teamed up with several agencies to launch a financial education drive for fishermen across the country.
HAVE you ever felt torn when it comes to which expenses should be prioritized? How about deferring preparation for something even though you know it is important? Or have you spent on something that either fulfills a temporary urge or does not provide value at all?
ASIA United Bank Corp. (AUB) aims to accelerate processing of loans and other financial products by becoming an accessing entity in the country’s central credit registry.
THE Department of Finance (DOF) said it borrowed and secured grants for a total of $17.06 billion, roughly P819.38 billion, from foreign lenders in 2020 in a bid to plug the record-high P1.38-trillion fiscal deficit that the Philippine government incurred as the economy was crippled by “poor governance” against the Covid-19 pandemic.
THE Manila City Prosecutor’s Office has junked the criminal complaint by TouchPay brand-owner Manila Express Payment Systems (Meps) Inc. for alleged utility-model infringement and unfair competition filed against officers of two online payment and processing firms.
FINANCIAL technology (fintech) player Telcoin Pte. Ltd. recently launched a digital remittance window—which leverages on its blockchain-supported platform—between Canada and the Philippines.
AMID widespread joblessness due to the economic recession, another lawmaker has filed a bill tripling the amount of unemployment insurance that laid-off workers can claim from the Social Security System (SSS).
OFFICIALS of the Bureau of Internal Revenue met with Russia’s Federal Tax Service (FTS) to explore a possible bilateral cooperation agreement to help the Philippines set up tax data capture system.
FOLLOWING a Central Bank mandate, Aboitiz-led Union Bank of the Philippines announced on Tuesday that it has established its Sustainable Finance Framework (SFF).
ON January 10, 2018, I wrote here about “Community as a Strategy,” citing that members’ sense of community is an essential driver for an association’s success.
SECURITY Bank Corp. rolled out its mobile banking services allowing customers to do transactions without having to visit a physical branch.
THE Vice Chairman of the Senate Committee on Banks, Financial Institutions and Currencies asked monetary authorities to investigate financial intermediaries defying the debt moratorium order issued by the Bangko Sentral ng Pilipinas (BSP).
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