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...
Union Bank of the Philippines’ planned P12 billion stock rights offering will be priced within the range of P54.48 to P58.38 per share although the entitlement ratio is yet to be set. In a disclosure to the Philippine Stock Exchange, the bank said it is planning to offer up to 220.26 million...
Philippine National Bank (PSE: PNB) has nominated Felix Enrico R. Alfiler as the bank’s 15th board member effective December 29, 2022. “Director Alfiler is a seasoned banker and his experience in finance and the economy will bring additional depth to our board,” said PNB Chairman Federico C....
The Civil Aviation Authority of the Philippines (CAAP) alerted all airmen on Friday, Dec. 30, against possible debris hit from a rocket that was launched by China. Rocket debris believed to be from China’s Long March 5B (CZ-5B) booster rocket were found by fishermen near the Mindoro Strait, the...
The Development Bank of the Philippines (DBP) granted a P254-million loan to renewable energy firm Upgrade Energy Philippines, Inc. (UEP) to spur investments in the sector amidst rising demand. UEP, an engineering, procurement and construction contractor, offers renewable energy and energy...
Given suboptimal performance and persisting inequitable access, the Philippine education system needs swift action to address the current education crisis, state think tank Philippine Institute for Development Studies (PIDS) emphasized. A study “Philippine Education: Situationer, Challenges, and...
CBS China Bank Savings, the retail lending arm of China Banking Corporation, is now one of the few Philippine thrift banks that boast of a digital on boarding app. This comes after the bank rolled out CBS GO, its mobile app to boost financial inclusion and speed up the shift to a cash-lite economy....
