Bank of the Philippine Islands (BPI) of the Ayala Group reported a 20 percent year-on-year growth in net income to ₱62 billion for 2024, driven by higher revenues and partly offset by higher operating expenses and provisions. In a disclosure to the Philippine Stock Exchange (PSE), the bank said...
Aboitiz-led Union Bank of the Philippines (UnionBank) expects its profits to continue growing this year after reporting strong growth in net income for 2024 on the back of record revenues. “Our retail-focused strategy allowed us to book record-high top line revenues. We should see the continued...
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Security Bank Corp. aims for a 10 percent return on equity (ROE) this year while enhancing its digital and physical presence to meet the growing demands of consumers and businesses. In a briefing, Eduardo Olbes, chief financial officer of Security Bank, said that the bank expects fluctuations in...
Lanao del Sur 1st district Rep. Zia Alonto Adiong (Ellson Quismorio/ MANILA BULLETIN) Lanao del Sur 1st district Rep. Zia Alonto Adiong has raised concerns over the questionable use of funds from the Office of the Chief Minister (OCM) of the...
The Asian Development Bank (ADB) has approved a $500 million policy-based loan to support the Philippine government's efforts in enhancing labor market programs and promoting job creation. In a statement on Thursday, Jan. 30, ADB said the program aims to improve the productivity and employability...
The Asian Development Bank (ADB) has approved a $500 million policy-based loan to provide the Philippines with immediate access to financing in the event of disasters triggered by natural hazards or health-related emergencies. In a statement, the Manila-based lender said the funding will support...
The House plenary (Facebook) The House of Representatives overwhelmingly approved on third and final reading during plenary session Tuesday, Jan. 28 a measure enacting a new charter for the Development Bank of the Philippines (DBP)....
Dividends from the Maharlika Investment Corporation (MIC) will not offer relief for the recapitalization of the Land Bank of the Philippines (Landbank) and the Development Bank of the Philippines (DBP), the head of the sovereign wealth fund stated. During a Jan. 28 press conference,...
San Miguel Corporation affiliate Bank of Commerce (BankCom) is raising at least P5 billion from the public offer of its dual-tranche fixed rate bonds due 2027 (Series C Bonds) and fixed rate bonds due 2030 (Series D Bonds). In a disclosure to the Philippine Stock Exchange (PSE), the bank said it...
Economies across the Asia-Pacific region can withstand headwinds from the policies of the Trump 2.0 administration that are deemed detrimental to global free trade and climate financing, according to a top Asian Development Bank (ADB) official. Once the United States imposes tariffs, "China, of...
Ayala Corporation has secured a $100-million (about P5.841 billion) financing deal with the Asian Development Bank (ADB) to accelerate the development of an electric mobility ecosystem in the Philippines. “This funding will be used to procure and install electric vehicle charging stations...
