Aboitiz-led Union Bank of the Philippines (UnionBank) and the ATRAM Group have entered into an investment agreement to merge their respective trust subsidiaries. In a disclosure to the Philippine Stock Exchange (PSE), UnionBank announced that it will hold a 27.5 percent ownership stake in ATR...
The Philippines must pursue long-term reforms to thrive amid intensified uncertainty wrought by geopolitics and external developments, including Donald J. Trump's impending return to the White House seen solidifying the United States' trade protectionism, according to a World Bank economist. On the...
Big banks’ outstanding loans grew by 11 percent year-on-year in September, an improvement from the 10.4 percent reported in August, according to the Bangko Sentral ng Pilipinas (BSP). Bank lending in peso terms amounted to P12.402 trillion in September, net of reverse repurchase (RRP) placements...
Manila-based Asian Development Bank (ADB) has approved nearly P100 billion ($1.7 billion) to fund a 37.5-kilometer climate-resilient expressway in the Philippines that aims to boost regional connectivity and economic competitiveness. The ADB will support the Laguna Lakeshore Road Network Project...
The Department of Energy (DOE) along with the Landbank of the Philippines have inked a deal that allows the efficient use of funds that would support host communities, specifically those under the Energy Regulations 1-94 (ER 1-94) Program. The ER 1-94 was made to ensure communities get a reasonable...
Education Secretary Juan Edgardo "Sonny" M. Angara is eyeing to tap additional concessional financing through cheap loans and grants extended by the Philippines' development partners as well as tycoons' deep pockets, to fund more classroom construction while addressing learning loss among Filipino...
Lucio Co-led Philippine Bank of Communications (PBCom) has raised P7.69 billion from its oversubscribed maiden issuance of Peso Fixed Rate Bonds. The bank said in a disclosure to the Philippine Stock Exchange that the bonds have been listed on the Philippine Dealing & Exchange Corp....
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, reported a 19 percent improvement in net income to P4 billion in the first nine months of the year. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its solid financial performance was driven by...
Philippine Business Bank (PBB), a local lender controlled by beverages tycoon Alfredo Yao, reported that its net income leaped 57.1 percent to P1.8 billion in the first nine months of 2024 from the P1.15 billion it earned in the same period last year. In a disclosure to the Philippine Stock...
A World Bank-funded project aimed at preparing Metro Manila for the so-called "The Big One" earthquake -- foreseen to shake the region in the near future -- is progressing despite the lack of budget from the national government. In a Nov. 3 implementation status and results report, the...
With an average of $3.5-billion (about P204 billion) asset losses inflicted by a string of strong typhoons and earthquakes to the Philippine economy each year, the World Bank enjoins tapping disaster-risk finance, especially private-sector insurance, to boost preparedness. In an Oct. 31 report...
Philippine-assembled electronics—the country's top merchandise export—may be hurt by bigger Chinese production, the World Bank said. In an Oct. 31 report, the Washington-based multilateral lender cited that the Philippines' semiconductor exports shrank 13.8 percent year-on-year in...
