China Banking Corporation posted a 35 percent growth in consolidated net income to P11.2 billion for the January to September 2021 period on the back of sustained core business growth and effective cost management. In a disclosure to the Philippine Stock Exchange, the bank said it was able to ride...
The Philippines and Indonesia have formed a new partnership establishing an Energy Transition Mechanism (ETM), the first of its kind in Asia and the Pacific, the Asian Development Bank (ADB) said. At the COP26 in Glasgow, ADB President Masatsugu Asakawa, Indonesian Finance Minister Sri Mulyani...
The Asian Development Bank (ADB) has secured additional pledges to fund low-carbon and climate-resilient infrastructure projects for the Association of Southeast Asian Nations (ASEAN). In a statement, the Manila-based multilateral institution said late Tuesday, Nov. 2, that four partners have...
Opposition Rep. Ferdinand Gaite (Bayan Muna Partylist) on Tuesday, Nov. 2 called on the Duterte administration to repeal the automatic debt servicing law that the late former President Ferdinand E. Marcos has decreed. Rep. Ferdinand Gaite-Bayan Muna Gaite said government should realize that...
Union Bank of the Philippines (UnionBank) reported a 26 percent improvement in net income to P10.7 billion for the first nine months of the year on account of a 9 percent increase in revenues. In a disclosure to the Philippine Stock Exchange, the bank said its net interest income increased 3...
The Bangko Sentral ng Pilipinas (BSP) has directed all banks and their subsidiaries to submit quarterly reports of their remaining London Inter-Bank Offered Rate or LIBOR-related exposures until end-2023. BSP Deputy Governor Chuchi G. Fonacier, who signed the memo (Memorandum No. M-2021-058) on...
The Asian Development Bank (ADB) has reaffirmed its support for a rapid economic recovery, infrastructure development, and regional cooperation. At the 14th Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP–EAGA) Leaders’ Summit on Thursday, Oct. 28, Masatsugu...
Shares other financial steps for a better future for every Filipino “I’ve heard and seen so many athletes who, after their careers, didn’t know where to go after. They went after their ‘wants’ instead of their ‘needs.’ Nakakalungkot. I don’t want it to happen to me and to all the...
The Department of Agriculture (DA) is close to securing the approval for the Fisheries and Coastal Resiliency (FishCoRe), a P10-billion project to be funded by World Bank. The project, which will run for seven years, is the first World Bank project to be implemented with the Bureau of Fisheries and...
The Philippine Red Cross (PRC) on Wednesday, Oct. 27, led the groundbreaking ceremony of the new PRC Blood Bank that will soon rise in Sta. Rosa, Laguna. Photo courtesy of Philippine Red Cross The PRC blood bank will serve the entire city and nearby cities such as Binan and San Pedro, Laguna, with...
The Asian Infrastructure Investment Bank (AIIB) has vowed to align its operations with the goals of the Paris Agreement as the Beijing-led lender raises its annual climate finance commitments. Currently, the China-led AIIB estimated its cumulative climate finance approvals to reach $50 billion by...
Amid the challenges of COVID-19, China Banking Corporation (China Bank) landed in The Asian Banker’s Top 500 Strongest Banks ranking for 2021 as the second strongest bank in the Philippines in terms of balance sheet. China Bank is also in the top 20 percent of the 500 strongest banks in the Asia...
