The Lucio Tan Group’s Philippine National Bank (PNB) posted a 12.6 percent decline in net profits to P9.7 billion for the first six months of 2023 from P11.1 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said it saw sustained growth in net...
Security Bank Corporation reported a 21 percent drop in net income to P4.9 billion in the first half of 2023 from the P6.2 billion earned in the same period last year due to higher expenses and provisioning. In a disclosure to the Philippine Stock Exchange, the bank said it saw growth in core...
The Philippine government must act now to protect and make use of the Reed Bank, a part of the West Philippine Sea that is being claimed by China, as energy prices might eventually shoot up due to the country's depleting resources, retired senior associate justice Antonio Carpio said Thursday,...
Philippine Saving Bank (PSBank), the consumer and retail banking arm of the Metrobank Group, has maintained the highest Issuer Credit Rating of PRS Aaa (corp.), with a Stable Outlook, from Philippine Rating Services Corporation (PhilRatings). A company rated PRS Aaa (corp.) has a very strong...
The local stock market fell after the government reported slower economic growth for the second quarter of 2023. The main index lost 80.79 points or 1.24 percent to close at 6,449.66 as the Mining and Oil counter led all sectors in the retreat. Volume was still weak at 513 million shares...
In line with the 172 nd anniversary celebration of Ayala-led Bank of the Philippine Islands (BPI), the bank’s wealth management arm, BPI Wealth, announced the launch of the first 8.8 BPI Investival 2023. This campaign is dedicated to promoting the culture of investing and empowering...
The International Finance Corporation (IFC), a member of the World Bank, has agreed to invest $250 million in a green bond to be issued by Bank of the Philippine Islands (BPI) of the Ayala Group. In a disclosure to the Philippine Stock Exchange, BPI said this is the biggest deal IFC has done with a...
San Miguel Corporation’s (SMC) affiliate Bank of Commerce (BankCom) booked a 79 percent jump in net profit to P1.59 billion in the first semester of 2023 from the P886.91 million in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said the results were...
The local stock market is seen to open the week with some bargain-hunting following last week’s steep drop although investors will also be taking cues from the release of the Philippines’ second quarter economic growth data as well as the US July inflation numbers. “Given the steep decline...
Philippine upstream company PXP Energy Corporation is now coming to terms with the idea that the resumption of exploration at the Recto Bank prospect will rely on the political decision of the national government (NG), primarily considering the diplomatic alliances of the administration with global...
Baguio City will witness a momentous event that blends history and sportsmanship. The inaugural Victory Day Ride spearheaded by the Philippine Veterans Bank (PVB) on September 3 will take cycling enthusiasts and history afficionados on a journey to honor the sacrifices of World War II veterans and...
Typically, to receive their payroll, employees have to visit a bank branch, fill up application forms, create the account, and come back for the ATM card after several days. All of this is very inconvenient which can translate to dissatisfaction with their company so early in their employment....
