Union Bank of the Philippines has appointed its Senior Executive Vice President Henry Rhoel R. Aguda as President and Chief Executive Officer of subsidiary UnionDigital Bank Inc. In a disclosure to the Philippine Stock Exchange, the bank said its Board of Directors has approved the secondment of...
A New York-based commercial bank has expressed willingness to cooperate with a Senate panel investigating the Philippine Amusement Gaming Corp.’s (PAGCOR) alleged anomalous contract with a third party auditor for Philippine Offshore Gaming Operators (POGOs). In a letter to Janice Godornes,...
The Securities and Exchange Commission has agreed to reduce the penalty it imposed against Bank of the Philippine Islands to P30 million from the original P134.62 million. In a disclosure to the Philippine Stock Exchange, BPI said it has received a letter from the SEC informing the bank that the...
The Bangko Sentral ng Pilipinas (BSP) has confirmed that the third party auditor contracted by the Philippine Amusement and Gaming Corp. (PAGCOR) for Philippine Offshore Gaming Operators (POGOs) submitted spurious documents, Sen. Sherwin Gatchalian said on Friday, February 10. Gatchalian said this...
Bank of the Philippine Islands said it will “abide by the final decision of the Securities and Exchange Commission” which imposed penalties amounting to P134.62 million in relation to the bank’s executive stock option plan. In a disclosure to the Philippine Stock Exchange, BPI said the SEC...
Union Bank of the Philippines has successfully raised P12 billion from its recently-completed Stock Rights Offering (SRO) to existing shareholders. In a disclosure to the Philippine Stock Exchange, the bank said it has concluded the offering of approximately 210.97 million common shares priced at...
In a latest flex of its muscle in the West Philippine Sea (WPS), two China Coast Guard (CCG) ships and two Chinese maritime militia vessels sailed close to a Philippine Navy (PN) ship near Panganiban (Mischief) Reef to try intercepting its patrol operations, authorities confirmed Saturday, Feb. 4....
Bank of the Philippine Islands reported a 66 percent jump in net income to P39.6 billion last year, from the P23.88 billion in attributable profit earned in 2021, partly boosted by a property sale. In a disclosure to the Philippine Stock Exchange, the bank said this was driven by strong loan...
New York-based Soleil Chartered Bank (SCB) is denying it issued a bank certification to a local firm that was procured by the Philippine Amusement and Gaming Corp. (PAGCOR) to be its third party auditor to handle financial matters of Philippine Offshore Gaming Operators (POGOs). SCB issued the...
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Union Bank of the Philippines (UBP) reported that its net income was almost flat at P12.7 billion last year from P12.6 billion in 2021 despite record net revenues in 2022. In a disclosure to the Philippine Stock Exchange, the bank said its net revenues reached a record high of P52.2 billion, 16...
The World Bank has granted a fresh P32.7-billion loan to the Philippines to boost the country’s resiliency and sustainability of its financial sector as well as strengthen economic recovery from the pandemic. In a statement on Tuesday, Jan. 31, the Washington-based lender said its approved the...
