BankCom starts P5-B bond offering By James A. Loyola Bank of Commerce (BankCom), an affiliate of diversified conglomerate San Miguel Corporation, has started the P5-billion public offer of its peso bond issuance with an oversubscription option. In a disclosure to the Philippine Stock...
Union Bank of the Philippines, a member of the Aboitiz Group, reported a 41 drop in net income to P2 billion for the first quarter of 2024 from the P3.4 billion earned in the same period last year due to costs related to the integration of Citi’s consumer business. UnionBank Chief Financial...
Bank of the Philippine Islands (BPI), the Ayala Group’s financial services arm, is confident of sustaining its record-breaking earnings streak for the rest of 2024, after registering all-time high profits for the full-year 2023 and first quarter of 2024. BPI President and CEO Jose Teodoro K....
The Ayala Group’s financial services arm, the 172-year-old Bank of the Philippine Islands (BPI), reported a 25.8 percent growth in its first quarter net income to a record P15.3 billion this year, equivalent to a return on equity of 15.7 percent and return on asset of 2.02 percent. In a...
The Philippine Stock Exchange (PSE) has approved the planned P10 billion stock rights offering of Aboitiz-led Union Bank of the Philippines which is slated to kick off in May this year. In a disclosure to the PSE, the bank said it is offering about 296.47 million depending on the final offering...
The Department of Finance (DOF) has warned that the government’s slow implementation of digitalization amid the rapid growth of e-commerce could result in significant revenue loss. In a statement, the DOF said that Finance Secretary Ralph G. Recto is now seeking additional funding from the...
The Department of Finance (DOF) has secured a standby fund from the World Bank that the Philippines can readily utilize during emergency or crisis situations. In a statement on Monday, April 22, the DOF announced that the signing of the Rapid Response Option (RRO) agreement with the World Bank...
The Department of Finance (DOF) said that the World Bank Group (WBG) will assemble a team to assist the Philippines in enhancing its digital infrastructure, specifically its tax system. In a statement on Saturday, April 20, the DOF said that WBG President Ajay Banga expressed support for the...
The Philippines has received backing from the World Bank Group (WBG) for the government's digitalization initiative aimed at improving tax administration and other critical sectors, a Cabinet official said. Finance Secretary Ralph G. Recto said that the WBG has shown strong support for...
China Bank Savings (CBS) has moved up two notches in the Bangko Sentral ng Pilipinas’ 2023 ranking of thrift banks in the country in terms of total assets and is now the second largest in the industry. From fourth place in 2022, CBS said in a statement that it is now the second largest...
Businessman Alfredo Yao's Philippine Business Bank (PBB) reported a 39.1 percent jump in net income to P1.82 billion last year from the P1.31 billion earned in 2022 as core income reached P3.1 billion. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its pre-tax...
If you’re looking for a convenient way to shop online and avail of the best deals on banking products, you’re in luck. Starting February 12, 2024, Security Bank and Lazada will offer an exclusive opportunity to access the Bank’s suite of award-winning Credit Card, Deposit, Home Loan, and Auto...
