The Bangko Sentral ng Pilipinas (BSP) should implement more "confidence-building measures" on the use of P1,000 polymer bank notes, Surigao del Norte 2nd district Rep. Robert Ace Barbers said Tuesday, Jan. 31. A P1,000 polymer bill. (Ellson Quismorio/ MANILA BULLETIN) Barbers made this call even as...
Bank of the Philippine Islands has upsized the issue size of its Peso Fixed-Rate Bonds due 2024 to P20.3 billion over four times the initial target of P5.0 billion to meet strong investor demand. In a disclosure to the Philippine Stock Exchange, the bank said the bonds, called BPI Reinforcing...
The composition of the Philippine Stock Exchange’s 30-stock benchmark, the PSE index (PSEi) will see some changes starting Feb. 6, 2023. In a statement, the bourse said DMCI Holdings, Inc. (DMC) and Union Bank of the Philippines (UBP) will be included in the PSEi, replacing Megaworld Corporation...
The new president and chief executive officer of the Development Bank of the Philippines (DBP), Michael O. de Jesus, on Friday, Jan. 27, vowed to strengthen and expand the state-owned bank’s role in infrastructure financing to sustain the country’s growth momentum. “As I take the helm of DBP,...
The Asian Development Bank (ADB) has approved a loan that aims to help the government expand economic opportunities in agriculture. In a statement on Friday, Jan. 27, the Manila-based multilateral institution said the bank approved a $500 million policy-based loan to the Philippines that seeks to...
SPEAKING OUT Ignacio R. Bunye The proposed merger between Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation (RBC) continued on track with its recent approval in a special BPI stockholders meeting held last week. BPI Chairman Jaime Augusto Zobel de Ayala, Vice Chairman Cezar P....
Philippine Business Bank (PBB) is planning a P500-million stock rights offering after its principal shareholders injected P1.25 billion in fresh capital into the bank to support its increase in authorized capital stock. In a disclosure to the Philippine Stock Exchange, PBB said its Board of...
The SM Group of companies bagged six trophies during the ASEAN Corporate Governance Scorecard (ACGS) Awards which was hosted by the Institute of Corporate Directors Philippines. In statement, the group said SM Investments Corporation, SM Prime Holdings Inc., BDO Unibank Inc., China Banking...
Bank of Commerce (BankCom) reported that its trade finance business grew more than six times in the last three years due to its accelerated support to both SMEs and larger businesses throughout the COVID-19 pandemic. In a disclosure to the Philippine Stock Exchange, the bank said year-end estimates...
The Bank of the Philippine Islands has priced its 1.5-year Peso Fixed-Rate Bonds due 2024 called BPI Reinforcing Inclusive Support for MSMEs Bonds (BPI RISE Bonds), with an aggregate principal amount of P5 billion with option to upsize. In a disclosure to the Philippine Stock Exchange, the bank...
Robinsons Retail Holdings Inc. (RRHI), a member of the Gokongwei conglomerate, is set to acquire an additional 4.4 percent stake in Bank of the Philippine Islands worth almost P20 billion bringing the retail firm's stake to 6.8 percent and the entire Gokongwei group's shareholdings in the...
Union Bank of the Philippines has set the final offer price for its P12 billion stock rights offering at P56.88 per share, above the midpoint of its indicative price range of P54.48 to P58.38 per share. In a disclosure to the Philippine Stock Exchange, the bank said the offer price was determined...
