China Banking Corporation (China Bank) reported a 37 percent jump in net profits to P4.9 billion in the first quarter of 2022 from P3.6 billion in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said the improved profitability, driven by sustained core business...
The Export Import Bank of Korea-Economic Development and Cooperation Fund (KEXIM-EDCF) has sealed a loan to the Philippines to finance the engineering services for the Panay-Guimaras-Negros Island bridges project. In a statement, the Department of Finance (DOF) said that the Philippines and Korea...
Philippine Bank of Communications (PBCOM) reported a 34.6 percent growth in consolidated net income last year to P1.57 billion, the highest since the entry of the Lucio Co Group in 2014. In a disclosure to the Philippine Stock Exchange, the bank said the increase in net income came on the back of...
Paymaya recently rebranded itself short, simple and sweet as "Maya" in a bid to go beyond payments and become an all-in-one money app for consumers and enterprises - “everything and a bank”. PayMaya rebrands as Maya Maya's rebranding came after Voyager Innovations, mothership of both PayMaya...
State-owned Development Bank of the Philippines (DBP) is set to launch the fourth batch of scholars under its flagship corporate social responsibility (CSR) initiative, the DBP Resources for Inclusive and Sustainable Education (RISE) scholarship program, a top official said. DBP President and Chief...
The Duterte administration has sealed 22 loan agreements with the World Bank Group (WBG) in the past five-years, bulk of which were used to help finance to country’s war chest against the Covid-19 pandemic, the Department of Finance (DOF) reported. In a statement on Monday, April 25, Finance...
Bank of the Philippine Islands reported a 59.6 percent jump in net income to P8.0 billion for the first quarter of 2022 compared to the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said its strong performance was attributable to higher net interest income, lower...
Noting that the Filipino commuters are suffering because of the inefficient public transportation system in Metro Manila, human rights lawyer Chel Diokno on Tuesday, April 19, questioned the government’s slow implementation of the bus rapid transit (BRT) project in Metro Manila that could’ve...
Philippine Saving Bank (PSBank), the consumer and retail bank arm of the Metrobank Group, retained the highest Issuer Credit Rating of PRS Aaa (corp.), with a Stable Outlook, from the Philippine Rating Services Corporation (PhilRatings). A company rated PRS Aaa (corp.) has a very strong capacity to...
China Banking Corporation (China Bank) made it to the Financial Times' 2022 ranking of the top 500 high growth companies in the Asia Pacific region—the only bank among the 15 Philippine companies in the comprehensive list. The Asia-Pacific High-Growth Companies 2022, compiled by British newspaper...
Despite external risks, the Philippines’ recovery is expected to gain traction this year as pandemic restrictions eased, allowing for more economic activities, the Asian Development Bank (ADB) said. In the Asian Development Outlook 2022 report released on Wednesday, April 6, the Manila-based...
Union Bank sets SRO price at P64.81/ share By JAMES A. LOYOLA Union Bank of the Philippines has set the price for its P40-billion stock rights offering at P64.81 per share, close to the bottom of the indicative price range of P64.55 to P73.78 per share. In a disclosure to the Philippine Stock...
