Bank of Commerce (BankCom), an affiliate of San Miguel Corporation (SMC), successfully debuted at the Philippine Stock Exchange (PSE) with its share price closing at P12.22 each, 1.83 percent higher than its initial public offering price of P12.00. The bank raised P3.36 billion from its IPO which...
The Philippine Stock Exchange has approved Union Bank of the Philippines’ planned stock rights offering worth up to P40 billion. In a disclosure, the bank said the PSE has approved UBP’s application to list up to 800 million additional common shares to cover its stock rights offering to al...
China Banking Corporation and its investment banking arm China Bank Capital bagged top honors at the recent 2022 PDS Awards of the Philippine Dealing System Holdings Corp. and Subsidiaries (PDS) Group. China Bank won the Cesar E.A. Virata Award (Bank Category), the highest distinction that the PDS...
BDO Unibank and its rural banking arm BDO Network Bank (BDONB) are beefing up their respective capital through a stock dividend and the issuance of new primary shares, respectively. In a disclosure to the Philippine Stock Exchange, BDO said it is declaring a 20 percent stock dividend as well as...
Senatorial candidate Gilbert “Gibo” Teodoro on Monday said the government should ease the requirements and processes for micro, small and medium enterprises (MSMEs) that seek loans in state-owned banks such as the Land Bank of the Philippines (LandBank) and the Development Bank of the...
CIS Bayad Center, Inc., or Bayad, the country’s biggest and widest multi-channel payment platform, and Philippine National Bank, the fifth largest bank in the country, have partnered to make it easier for Filipinos to settle payments electronically. In photo (L-R): Mr. Dennis G. Gatuslao –...
Tonik First Anniversary Tonik, the Philippines' first digital-only neobank, marks its first year of operations in the country today. With its industry-leading deposit rates of up to 6% per annum (p.a.) and unique product offerings, the neobank was able to provide Filipinos a game-changing way to...
The Muntinlupa City government has finally decided to avail of a low-interest loan being offered by Land Bank of the Philippines after the latter reminded that the program will expire next month. During the flag raising ceremony on March 21, Mayor Jaime Fresnedi announced that the city...
Bank of Commerce (BankCom), an affiliate of San Miguel Corp. (SMC), is ramping up investment in technologies to optimize operations and further improve customer experience. In a statement, the BankCom said it has just completed systems upgrade of key services including treasury, trust banking and...
Philippine National Bank reported that its net income surged to P31.7 billion last year, 12 times higher than the bottom line income in the previous year mainly due to a property-for-share swap with a subsidiary. In a disclosure to the Philippine Stock Exchange on Wednesday, March 16, the bank said...
The Asian Development Bank (ADB) has flagged the Social Security System’s (SSS) “limited coverage” of unemployment benefit. Based on ADB’s report released on Wednesdays, March 16, the Manila-based multilateral institution said it is critically important for the SSS to have a well-funded UI...
Reelectionist Senator Sherwiin Gatchalian has recommended to the Department of Agriculture (DA) the opening of bank accounts for the beneficiaries of the fuel subsidy program to expedite the distribution of cash aid to farmers and fisherfolk and to jumpstart their financial inclusion and access to...
