Finance Secretary Ralph G. Recto said that the national government will expand the authorized capital stock of the Land Bank of the Philippines (Landbank) to P1 trillion. Recto told reporters that the amendments to the charters of the two major state-run banks Landbank and the Development Bank of...
Ayala Corporation, one of the country's leading conglomerates, reported that it sustained its growth momentum with a 26 percent growth in core net income, which excludes one-off items, to P11.8 billion in the first quarter of 2024 from P9.4 billion in the same period last year. In a disclosure to...
Officials of the Department of Transportation (DOTr) met with representatives of the World Bank’s International Finance Corporation (IFC) and discussed the progress of the ongoing partnership projects that include efficient mass transport and reliable maritime connectivity. DOTr Secretary Jaime...
Asia United Bank (AUB) again posted record-setting profits in the first three months of the year as consolidated net income increased by 16 percent to P2.3 billion compared to the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said this translates to a return on...
Bank of Commerce (BankCom), an affiliate of diversified conglomerate San Miguel Corporation, has successfully raised P6.57 billion from its public offer of Peso bonds (Series B Bonds) at the close of the offer period on May 9, 2024. In a disclosure to the Philippine Stock Exchange, the bank said...
Security Bank Corporation has issued $400 million of 5.50 percent Senior Unsecured Fixed Rate Notes due May 14, 2029 as a drawdown of its Board approved $1 billion Medium Term Note Program. In a disclosure the Philippine Stock Exchange, the bank said the transaction was announced on the back of a...
Security Bank Corporation is planning to raise fresh funds through the issuance of US dollar-denominated senior unsecured notes and is probing the debt market to gauge its interest in the securities. In a disclosure to the Philippine Stock Exchange, the bank said it has mandated MUFG and UBS...
Philippine Savings Bank (PSB) posted a 23 percent growth in net income to P1.20 billion in the first quarter of 2024 from the P976.88 million earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said its core revenues, comprising of net interest...
Consumers will still feel the deepest financial pain triggered by surging electricity rates due to simultaneous plant outages in the past two weeks, but the Department of Energy (DOE) is urging the distribution utilities (DUs) to tap palliative interest-bearing loan from the Land Bank of the...
Philippine National Bank (PNB), a subsidiary of LT Group Inc., posted a 10 percent improvement in net income to P5.3 billion in the first three months of 2024 from the P4.8 billion earned in the same period last year. In a disclosure to the Philippine Stock Exchange, the bank said its core income...
Aboitiz-led Union Bank of the Philippines has set the terms and timetable for its P10- billion stock rights offering with the offer price set at a discounted P30.57 per share. In a disclosure to the Philippine Stock Exchange the bank said the offer price was determined based on the volume-weighted...
Metropolitan Bank & Trust Co. (Metrobank) reported a 14.5 percent growth in net earnings to P12.0 billion in the first quarter 2024 for a return on equity (ROE) of 13.7 percent. In a disclosure to the Philippine Stock Exchange, the bank said this was driven by consistent growth of its...
