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BPI plans LTNCTD offer

2017-10-19 bworldonline
THE Bank of the Philippine Islands (BPI) will soon offer long-term notes to fund expansion plans and diversify its portfolio, after securing regulatory approval for the issuance. (11-0)

PNB, Security Bank eye debt notes offering to raise funds

Two big banks—Philippine National Bank and Security Bank Corp.—are set to tap the local financial market with an offering of high-yielding deposit notes. (11-0)

SyCip passing leaves companies scrambling for board replacement

2017-10-09 philstar
MANILA, Philippines — The death of Washington SyCip, hailed as one of the old guards of the country’s economy, has left a number of companies scrambling to fill up the vacuum in their boards. (9-1)

BSP eases rules on banks’ bond issues

2017-10-07 philstar
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has hit the ground running to speed up the development of the domestic debt market as part of additional game-changing financial sector reforms in the medium term. (15-0)

BDO pads dominance, assets hit P2.32 T in H1

2017-10-02 philstar
MANILA, Philippines — BDO Unibank Inc. maintained its dominance in the banking industry in terms of total assets, capital, deposits, and loans in the first half of the year, data from the Bangko Sentral ng Pilipinas (BSP) showed. (15-1)

Market may attempt anew to hit the 8,000 level

2017-08-14 philstar
MANILA, Philippines -  The stock market may again attempt to breach the 8,000 level this week although most analysts said it may still be difficult to sustain the 8,000 level given that second quarter and first half corporate earnings were lower than expectations.

PNB profit drops 38% in H1

2017-08-14 philstar
MANILA, Philippines -  The absence of one-off gains from the sale of foreclosed assets and lower earnings from trading and investment securities pulled down the net income of Philippine National Bank (PNB) by 38.3 percent in the first half.

LT Group posts lower H1 income

2017-08-11 philstar
MANILA, Philippines - LT Group Inc. (LTG), the holding company of taipan Lucio Tan, reported a net income of P4.53 billion in the first half, slightly lower than the same period last year.

LTG nets P4.53B

Tycoon Lucio Tan-led conglomerate LT Group Inc. chalked up P4.53 billion in first semester net profit, flat from the level last year as higher earnings from tobacco and real estate units were offset by slower liquor businesses.

‘Rare’ Art Deco wooden school in Binondo demolished

With its fast-changing landscape now dominated by skyscrapers and residential buildings, the district of Binondo in Manila has again lost an important heritage structure with the demolition of the Art Deco Philippine Su Kuang Institute building on Masangkay St.

Bank assets hit record P14.2 T

2017-08-05 philstar
MANILA, Philippines - Total resources of Philippine banks continued to book a double-digit growth to hit a record level of P14.2 trillion in end-May as the industry continued to withstand shocks amid the volatile global financial market.

PNB thrift unit earns 27% more

2017-08-04 philstar
MANILA, Philippines - The consumer banking arm of listed Philippine National Bank (PNB) recorded a 27 percent increase in net income, driven by the sustained expansion of core business, consumer loans and deposits.

MGen tapping BPI, PNB for P100-B loan to fund Quezon power project

2017-07-24 philstar
MANILA, Philippines - Meralco PowerGen Corp. (MGen) has tapped Bank of the Philippines Islands (BPI) and Philippine National Bank (PNB) to finance the 2x600-megawatt (MW) coal-fired power plant in Atimonan, Quezon.

Bank assets hit record P14.2 T

2017-07-19 philstar
MANILA, Philippines - Total resources of Philippine banks continued to book a double-digit growth to hit a record level of P14.2 trillion in end-May as the industry continued to withstand shocks amid the volatile global financial market.

Lucio Tan takes delivery of new aircraft

2017-07-16 philstar
MANILA, Philippines -  Taipan Lucio Tan, the Philippines’ third richest man, turns 84 today but there’s no stopping him from bringing his multibillion dollar empire – comprising of cigarettes to skyscrapers to airlines – to greater heights.

BDO, Metrobank, BPI dominate industry in Q1

2017-07-10 philstar
MANILA, Philippines - Family-owned BDO Unibank Inc., Metropolitan Bank & Trust Co. and Bank of the Philippine Islands continued to dominate the banking industry in terms of assets, capital, deposits and loans in the first quarter of the year.

Favila resigns from GT Capital board

2017-07-05 philstar
MANILA, Philippines -  Newly appointed Monetary Board member Peter Favila tendered his resignation as independent director of GT Capital Holdings Inc. effective immediately.

3 Monetary Board members confirmed

Finance Secretary Carlos G. Dominguez III yesterday confirmed the appointment of Antonio Abacan Jr. to the Monetary Board of the Bangko Sentral ng Pilipinas as well as the return of Peter Favila and retention of Felipe Medalla to the policymaking body.

LT Group opens up to more partnerships

2017-06-26 philstar
MANILA, Philippines - Taipan Lucio Tan, the country’s fourth richest man, who in recent years has opened his vast empire to partners including erstwhile competitors, will continue to do so as part of a strategy to grow the business.

Phl bank resources hit record P14.1T in April

2017-06-19 philstar
MANILA, Philippines - Assets of Philippine banks continued to book double-digit growth to hit a record level of P14.14 trillion in end April as the industry continued to withstand shocks amid the volatile global financial market.

End-March bank deposits hit record P10.621 trillion

The total deposit liabilities of the banking system further rose to a record P10.621 trillion at the end of the first quarter, the latest data of state-run Philippine Deposit Insurance Corp. (PDIC) showed.

Bohol execs start serving suspension

TAGBILARAN CITY—Five officials of Bohol province started serving their suspension on Monday, leaving their posts to heed an Ombudsman order penalizing them for the questionable purchase of heavy equipment by the former governor of the province in 2006 and 2009.

PNB 1st Philippines labor compliant bank

2017-05-22 philstar
MANILA, Philippines - The Department of Labor and Employment (DOLE) has certified the Philippine National Bank (PNB) as an institution that is compliant with the department’s program and policies.

China Bank woos RCBC for merger talks

2017-05-20 philstar
Multiple industry sources said China Bank has initiated merger talks with the Yuchengco-owned RCBC – the bank used as a conduit for the $81-million fund hacked from Bangladesh Bank to Philippine casinos last year –  but nothing has been finalized yet. File

LTG nets P2.25B

Tycoon Lucio Tan-led LT Group Inc. (LTG) chalked up a first quarter net profit of P2.25 billion, a flat performance compared to the previous year, due to lower earnings from its banking and beer businesses.