State-run Land Bank of the Philippines is selling its subsidiary, UCPB Savings Bank, Inc., to focus on its core sectors. In a statement, Landbank said the state-owned lender wants to enhance its services to key development sectors once the privatization of UCPB Savings is completed. Lynette...
CSC Holdings Ltd., a Hong Kong-listed financial services firm, has announced its acquisition of a 26.8 percent stake in Citystate Savings Bank for approximately P736 million. In a disclosure to the Hong Kong Stock Exchange, CSC said it signed a sales and purchase agreement (SPA) on Friday,...
Philippine Savings Bank (PSBank) posted an 18 percent growth in net income to P2.56 billion in the first half of 2024 from the P2.17 billion earned in the same period last year, resulting in an annualized return on equity of 12.5 percent. In a disclosure to the Philippine Stock Exchange...
China Bank Savings (CBS), a subsidiary of China Banking Corporation, reported an 18 percent improvement in net income to a record P1 billion in the first half of 2024 from the P849 million earned in the same period last year. In a statement, the bank said this is a faster pace compared to 2023’s...
The Department of Energy (DOE) is stepping up efforts on the accelerated compliance of government agencies and entities on the mandated 10 percent savings on energy usage that they must achieve, as prescribed under Administrative Order (AO) 15 that was issued by President Marcos early this year. To...
In the first quarter of 2024, Pag-IBIG Fund members collectively saved a record P28.75 billion, setting the highest amount ever saved in the agency's history during a first quarter, according to top officials. This represents a 36 percent increase—roughly P7.66 billion more than the P21.09...
Philippine Savings Bank (PSB) posted a 23 percent growth in net income to P1.20 billion in the first quarter of 2024 from the P976.88 million earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said its core revenues, comprising of net interest...
China Bank Savings (CBS) has moved up two notches in the Bangko Sentral ng Pilipinas’ 2023 ranking of thrift banks in the country in terms of total assets and is now the second largest in the industry. From fourth place in 2022, CBS said in a statement that it is now the second largest...
State-run Social Security System (SSS) is encouraging overseas Filipino workers (OFWs) in Singapore to avail of the Voluntary Provident Fund Program or the Worker’s Investment and Savings Program (WISP) Plus. During the First SSS Kapihan sa Singapore, SSS President and Chief Executive Officer...
Philippine Savings Bank (PSBank), the thrift banking arm of the Ty family, reported a 23 percent improvement in net income to a record-high P4.53 billion last year from P3.68 billion in 2022 due to higher revenues. In a disclosure to the Philippine Stock Exchange (PSE), the bank said this...
Philippine Savings Bank, the thrift banking arm of the Metrobank Group, reported an 18 percent hike in net income to P3.37 billion for the first nine months of 2023, resulting in an 11.7 percent growth in return on equity. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its...
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...
