The Securities and Exchange Commission (SEC) has approved the planned P3.5 billion initial public offering (IPO) of Bank of Commerce and the P60-billion fixed-rate bonds of its parent company San Miguel Corporation (SMC). The Commission En Banc resolved to render effective the registration...
Security Bank Corporation donated its 2021 holiday fund allocation to support disaster relief and home rebuilding efforts in the aftermath of Typhoon Odette in line with its advocacy of community-building. The bank said it partnered with non-government organization (NGO) International Care...
65270 As demand for digital financial solutions skyrocketed in the pandemic, local open finance platform UBX quintupled its revenues last year and expects to sustain its growth momentum in 2022. In 2021 alone, UBX hauled in P20 billion in annual gross transaction value serving over 200,000 business...
64897 Tonik Financial Pte Ltd (“Tonik”), the parent company of Tonik Digital Bank in the Philippines, announced today that it closed a US$131M round of Series B equity funding. The round was led by Mizuho Bank, which is one of the largest Japanese banking groups and a Top 10 bank by assets in...
In the times when the spirit of pagbabayanihan is more needed than ever, many Filipinos are always looking for ways on how they can help their communities. RBank gives back by helping build the brighter future of many college students. With Robinsons Bank, giving back and helping create better...
The Asian Development Bank (ADB) will provide support to Filipino families affected by Typhoon Odette in Visayas and Mindanao. In a statement, the Manila-based multilateral institution said on Wednesday, Feb. 9, that it has approved a $2-million grant to support the emergency response to the...
Just in time for Chinese New Year If there's one thing we all prioritize and value, it's the extra service we get as clients. And these customers were in a for a treat as East West Bank hosted a special event for their Priority clients. To welcome the Chinese New Year, these clients were invited to...
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved the upgrade of the commercial banking license of Philippine Bank of Communications (PBCOM) to that of a universal bank. In a disclosure to the Philippine Stock Exchange, PBCOM asid the license upgrade provides additional...
Open banking transforms the customer experience in ways that have never been before. Financial inclusion is rising. In 2017, 23 percent of Filipino adults had bank accounts. Fast forward to 2021, it jumped to 53 percent. The ideal is that people, regardless of net worth,...
The Bank of the Philippine Islands posted an 11.5 percent growth in net income to P23.88 billion last year, driven by lower provisions and record-high fee income. In a disclosure to the Philippine Stock Exchange, the bank said profits jumped to P6.4 billion in the fourth quarter of 2021, 51.2...
Union Bank of the Philippines reported a 9 percent improvement in net income to P12.6 billion in 2021, translating to above-industry return on equity of 12.0 percent. In a disclosure to the Philippine Stock Exchange, the bank said its net revenues were at an all-time high of P45.1 billion, up 7...
Bank of the Philippine Islands (BPI) has raised P27 billion, exceeding its initial target size of P5 billion for its latest bond offer by more than 5 times, due to strong demand from investors. In a disclosure to the Philippine Stock Exchange, the firm said the bonds have been issued as part of...
