State-owned Development Bank of the Philippines (DBP) has expressed renewed interest in providing financing to critical public infrastructure projects as it seeks optimal mobilization of the P8.75-billion in fresh funds from its latest local bond issuance, a top official said. DBP President...
Security Bank Corporation reported a 13.74 percent drop in net income to P9.1 billion last year from the P10.55 billion earned in 2022 mainly due to higher expenses and provisions for credit card losses. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its total revenues...
Metropolitan Bank & Trust Co. (Metrobank), the Ty family’s banking arm, has successfully raised $1 billion from its offering of a dual tranche, five-year and 10-year US dollar-denominated notes. In a disclosure to the Philippine Stock Exchange (PSE), the bank boasted that “this issuance...
GoTyme Bank experienced phenomenal growth in the Philippines. Garnering praises for its exceptional user experience, robust security measures and outstanding customer service, the bank attracted 2.5 million users in just 15 months after its launch in 2022. A refreshing alternative to...
The Department of Finance (DOF) said that the World Bank has committed to develop financial instruments tailored to address the Philippines' vulnerabilities to natural calamities. According to the DOF, these instruments will be designed to strengthen the country's emergency response capabilities,...
Metropolitan Bank & Trust Company (Metrobank) is planning to raise $500 million from the issuance of "Reg S" US dollar-denominated Senior Unsecured Notes. In a disclosure to the Philippine Stock Exchange (PSE), the bank said it has been rated "Baa2" with a "stable" outlook by Moody’s...
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 National Bank (PNB), the lender controlled by taipan Lucio Tan, reported a 55 percent jump in consolidated net income to P18 billion in 2023 on the back of robust net interest income and lower provisions. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its net...
The Department of Finance (DOF) onboarded a new talent from the Sy-led China Banking Corp. to lead the unit responsible for analyzing emerging economic issues and developments. Domini S. Velasquez, the former chief economist of Chinabank, is set to join the DOF this week to head the Office of the...
The Ayala Group’s financial services arm Bank of the Philippine Islands (BPI) is looking to raise $300 million by September this year to refinance maturing bonds of the same amount. BPI Chief Finance Officer Eric M. Luchangco “We're looking at various options, but we will we will refinance that...
Metropolitan Bank & Trust Co. (Metrobank), the banking arm of the Ty Group, reported a 28.9 percent growth in net income to a record P42.2 billion as total consolidated assets expanded by 9.2 percent to P3.1 trillion in 2023. “Our solid performance in 2023 was strongly driven by our asset...
The Department of Finance (DOF) is exploring changes to the charters of the Land Bank of the Philippines and the Development Bank of the Philippines (DBP) to pave the way for their potential public listing. Finance Secretary Ralph G. Recto, speaking at a reception hosted by the Philippine Stock...
