Philippine National Bank reported that its net income surged to P31.7 billion last year, 12 times higher than the bottom line income in the previous year mainly due to a property-for-share swap with a subsidiary. In a disclosure to the Philippine Stock Exchange on Wednesday, March 16, the bank said...
The Asian Development Bank (ADB) has flagged the Social Security System’s (SSS) “limited coverage” of unemployment benefit. Based on ADB’s report released on Wednesdays, March 16, the Manila-based multilateral institution said it is critically important for the SSS to have a well-funded UI...
Reelectionist Senator Sherwiin Gatchalian has recommended to the Department of Agriculture (DA) the opening of bank accounts for the beneficiaries of the fuel subsidy program to expedite the distribution of cash aid to farmers and fisherfolk and to jumpstart their financial inclusion and access to...
The Philippine Stock Exchange (PSE) has approved the listing application of Bank of Commerce (BankCom) which is planning to raise up to P4 billion from a planned initial public offering (IPO). The bank is planning to offer up to 280.6 million common shares at an offer price of up to P12.5 per...
President Duterte has issued a reminder that the Philippines should keep its word about having a joint exploration with China at the Recto Bank in the West Philippine Sea, saying not doing so may cause problems that no one wants. President Rodrigo Duterte (RTVM Screenshot) Duterte made the...
From left: Divino Lorenzo F. Villanueva III, Director, GIV Capital Holdings Corporation; Jeffrey D. Ligsay, AVP - Trust Banking Group, Development Bank of the Philippines (DBP); Ma. Felicia S. Magtibay, SAVP - Trust Banking Group, DBP; Francis Nicolas M. Chua, FVP - Corporate Finance Group DBP;...
Security Bank Corporation’s net income income dipped to P6.9 billion in 2021 from P7.4 billion in the prior year because the passage of the CREATE law triggered a one-time P1.2 billion charge for deferred tax assets. In a disclosure to the Philippine Stock Exchange, the bank said its profit...
Security Bank Corporation’s Trust and Asset Management Group (TAMG) expects the Philippine Stock Exchange index (PSEi) to hit the 8,000-mark by the end of the year as the economy rebounds in 2022. In a webinar, the group shared its 2022 outlook for the Philippines equities market and how the...
Philippine Savings Bank (PSBank), a subsidiary of Metropolitan Bank and Trust Company, posted a 39 percent growth in net income to P1.5 billion last year. In a disclosure to the Philippine Stock Exchange, the bank said its “strong income performance was on the back of the increase in fee income...
Presidential candidate Ferdinand “Bongbong” Marcos, Jr. has vowed to pursue the construction of the proposed bridge that would link Iloilo, Guimaras and Negros Occidental should he win the presidency in the May 2022 elections. Marcos made the promise during the UniTeam’s political rally at...
China Banking Corporation posted a 25 percent increase in net income to P15.1 billion last year on the back of sustained core business growth and effective cost management. In a disclosure to the Philippine Stock Exchange, the bank said its earnings translated to an improved return on equity and...
Security Bank Corporation’s investment arm, SB Capital Investment Corporation has received three deal accolades from Hong-Kong based financial magazine The Asset as well as several awards from other institutions. SB Capital was received the “Best Local Currency Green Bond Award” for serving...
