The Department of Finance (DOF) said that the World Bank has committed to develop financial instruments tailored to address the Philippines' vulnerabilities to natural calamities. According to the DOF, these instruments will be designed to strengthen the country's emergency response capabilities,...
Metropolitan Bank & Trust Company (Metrobank) is planning to raise $500 million from the issuance of "Reg S" US dollar-denominated Senior Unsecured Notes. In a disclosure to the Philippine Stock Exchange (PSE), the bank said it has been rated "Baa2" with a "stable" outlook by Moody’s...
Philippine Savings Bank (PSBank), the thrift banking arm of the Ty family, reported a 23 percent improvement in net income to a record-high P4.53 billion last year from P3.68 billion in 2022 due to higher revenues. In a disclosure to the Philippine Stock Exchange (PSE), the bank said this...
Philippine National Bank (PNB), the lender controlled by taipan Lucio Tan, reported a 55 percent jump in consolidated net income to P18 billion in 2023 on the back of robust net interest income and lower provisions. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its net...
The Department of Finance (DOF) onboarded a new talent from the Sy-led China Banking Corp. to lead the unit responsible for analyzing emerging economic issues and developments. Domini S. Velasquez, the former chief economist of Chinabank, is set to join the DOF this week to head the Office of the...
The Ayala Group’s financial services arm Bank of the Philippine Islands (BPI) is looking to raise $300 million by September this year to refinance maturing bonds of the same amount. BPI Chief Finance Officer Eric M. Luchangco “We're looking at various options, but we will we will refinance that...
Metropolitan Bank & Trust Co. (Metrobank), the banking arm of the Ty Group, reported a 28.9 percent growth in net income to a record P42.2 billion as total consolidated assets expanded by 9.2 percent to P3.1 trillion in 2023. “Our solid performance in 2023 was strongly driven by our asset...
The Department of Finance (DOF) is exploring changes to the charters of the Land Bank of the Philippines and the Development Bank of the Philippines (DBP) to pave the way for their potential public listing. Finance Secretary Ralph G. Recto, speaking at a reception hosted by the Philippine Stock...
After the shelving the planned merger, the Department of Finance (DOF) is now considering the public listing of Land Bank of the Philippines and the Development Bank of the Philippines (DBP). On Wednesday, Feb. 14, Finance Secretary Ralph G. Recto told Manila Bulletin that informal discussions have...
The local stock market recovered the previous day’s loss as investor sentiment got a boost from the higher foreign direct investments data for November. The main index added 20.10 points or 0.30 percent to close at 6,872.92 as Industrials led the advance. Volume improved a bit to 557 million...
The local stock market will be looking for cues from fresh corporate earnings reports and the US inflation data this week, even as some profit-taking is expected after the recent rally fueled by the low inflation rate and expectations of rate cuts later this year. “The local market continues to...
(File photo) Around 400 checks intended for the payout of the second batch of overseas Filipino workers (OFWs) who lost their jobs in various construction companies in Saudi Arabia nearly a decade ago will finally be distributed “within the next month.” Department of Migrant Workers (DMW)...
