BPI Family Savings Bank (BFSB), the consumer and retail banking arm of the Bank of the Philippine Islands (BPI), was assigned the highest issuer rating of PRS Aaa (corp.) with a stable outlook. Philippine Rating Services Corporation (PhilRatings) said a company rated “PRS Aaa” has a very strong...
State-run Social Security System (SSS) has tapped the Bank of the Philippine Islands (BPI) as a new payment channel for members to pay their contributions through the pension fund’s mobile app conveniently. In a statement, Aurora C. Ignacio, SSS president and chief executive, said individual...
Slows down branch expansion BPI Direct BanKo (BanKo), the savings bank subsidiary of Bank of the Philippine Islands (BPI) specializing in micro enterprises financing for as low as P25,000 up to P150,000 collateral-free, is targeting the grant of P7 billion micro loans this year to help micro...
Cebu Air, Inc. (CEB) today ( March 5) signed a P16 billion ten-year term loan facility with a syndicate of domestic banks. The airline's lenders include the Development Bank of the Philippines (DBP) and Land Bank of the Philippines (LBP), along with Asia United Bank Corporation (AUB), Bank of the...
SPEAKING OUT Ignacio R. Bunye In a recent award ceremony, the Securities and Exchange Commission (SEC) and the Institute of Corporate Directors (ICD) lauded four Ayala companies for leading the way in terms of corporate governance in the country. Ayala Land, Inc. (ALI) and Globe Telecom made it to...
Bank of the Philippine Islands posted a 25.7 percent drop in net income to P21.4 billion last year from the P28.8 billion earned in 2019 due to higher provisions for loan losses. In a disclosure to the Philippine Stock Exchange, the bank said its fourth quarter 2020 net income was P4.2 billion, a...
Bank of the Philippine Islands (BPI) is merging with BPI Family Savings Bank (BFSB), its wholly owned thrift bank subsidiary, with BPI as the surviving entity. In a disclosure to the Philippine Stock Exchange, BPI said the merger, which it hopes to complete this year, will prime the Bank to seize...
AURELIO “Gigi” R. MONTINOLA III, Chair of Far Eastern University (FEU), is the President of the Management Association of the Philippines (MAP) for 2021. Mr. Montinola is the 72nd President of the MAP since its inception in 1950. AURELIO...
Ayala Corporation, the country’s oldest conglomerate, announced that it will be appointing its Chief Finance Officer Jose Teodoro “TG” K. Limcaoco as the new President of Bank of the Philippine Islands next year. Jose Teodoro “TG” K. Limcaoco In a statement, the firm said Ayala...
With less than two months left for the year, the Philippines’ 2020 total rice imports so far stood at nearly 2 million metric tons (MT), coming from the usual countries like Vietnam and some unusual ones like China. As of November 13, 2020, 1.92 million MT of rice already entered the country,...
Ayala Corporation reported a 75 percent fall in net income to P11.4 billion in the first nine months of the year but noted that its performance in the third quarter is much improved compared to the second quarter of 2020. In a disclosure to the Philippine Stock Exchange, the conglomerate said...
All eyes will be on the outcome of the US elections this week while third quarter earnings and lingering concern over COVID-19 will provide cues at the local front. Traders work beneath an electronic ticker at the trading floor of the Philippine Stock Exchange in Bonifacio Global City...
