Union Bank of the Philippines has successfully raised P12 billion from its recently-completed Stock Rights Offering (SRO) to existing shareholders. In a disclosure to the Philippine Stock Exchange, the bank said it has concluded the offering of approximately 210.97 million common shares priced at...
In a latest flex of its muscle in the West Philippine Sea (WPS), two China Coast Guard (CCG) ships and two Chinese maritime militia vessels sailed close to a Philippine Navy (PN) ship near Panganiban (Mischief) Reef to try intercepting its patrol operations, authorities confirmed Saturday, Feb. 4....
Bank of the Philippine Islands reported a 66 percent jump in net income to P39.6 billion last year, from the P23.88 billion in attributable profit earned in 2021, partly boosted by a property sale. In a disclosure to the Philippine Stock Exchange, the bank said this was driven by strong loan...
New York-based Soleil Chartered Bank (SCB) is denying it issued a bank certification to a local firm that was procured by the Philippine Amusement and Gaming Corp. (PAGCOR) to be its third party auditor to handle financial matters of Philippine Offshore Gaming Operators (POGOs). SCB issued the...
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Union Bank of the Philippines (UBP) reported that its net income was almost flat at P12.7 billion last year from P12.6 billion in 2021 despite record net revenues in 2022. In a disclosure to the Philippine Stock Exchange, the bank said its net revenues reached a record high of P52.2 billion, 16...
The World Bank has granted a fresh P32.7-billion loan to the Philippines to boost the country’s resiliency and sustainability of its financial sector as well as strengthen economic recovery from the pandemic. In a statement on Tuesday, Jan. 31, the Washington-based lender said its approved the...
The Bangko Sentral ng Pilipinas (BSP) should implement more "confidence-building measures" on the use of P1,000 polymer bank notes, Surigao del Norte 2nd district Rep. Robert Ace Barbers said Tuesday, Jan. 31. A P1,000 polymer bill. (Ellson Quismorio/ MANILA BULLETIN) Barbers made this call even as...
Bank of the Philippine Islands has upsized the issue size of its Peso Fixed-Rate Bonds due 2024 to P20.3 billion over four times the initial target of P5.0 billion to meet strong investor demand. In a disclosure to the Philippine Stock Exchange, the bank said the bonds, called BPI Reinforcing...
The composition of the Philippine Stock Exchange’s 30-stock benchmark, the PSE index (PSEi) will see some changes starting Feb. 6, 2023. In a statement, the bourse said DMCI Holdings, Inc. (DMC) and Union Bank of the Philippines (UBP) will be included in the PSEi, replacing Megaworld Corporation...
The new president and chief executive officer of the Development Bank of the Philippines (DBP), Michael O. de Jesus, on Friday, Jan. 27, vowed to strengthen and expand the state-owned bank’s role in infrastructure financing to sustain the country’s growth momentum. “As I take the helm of DBP,...
The Asian Development Bank (ADB) has approved a loan that aims to help the government expand economic opportunities in agriculture. In a statement on Friday, Jan. 27, the Manila-based multilateral institution said the bank approved a $500 million policy-based loan to the Philippines that seeks to...
