Banco de Oro Unibank, the country’s biggest bank, expects to breach the P20-billion net profit mark this year, as the hefty trading gains in the first quarter are seen complementing a double-digit rise in interest earnings for the full year.
Banco de Oro Unibank on Monday launched an offering of a new batch of high-yielding deposits worth up to P5 billion as part of efforts to stretch out the maturity profile of its funding sources and support its medium-term growth objectives.
The country’s largest bank Banco de Oro Unibank has gained a foothold in Singapore with the opening of a representative office in Southeast Asia’s financial hub.
State-run Korea Development Bank (KDB) is scheduled to sign Monday a memorandum of understanding with the Development Bank of the Philippines on joint efforts in project financing.
Local banking giant Banco de Oro Unibank has unveiled plans to build a 47-story corporate tower above upscale shopping mall The Podium in the Ortigas central business district, casting a vote of confidence for the Philippine office property market.
Banco de Oro Unibank has completed a P5-billion fund-raising from the issuance of long-term deposit certificates on the back of strong demand from yield-seeking investors.
Banco de Oro—which became the country’s largest bank mainly through the acquisition of other banks—is keen on expanding further over the short term, but this time by putting up more branches of its own.
Without admitting the money was fake, a Banco de Oro branch in Digos City recently replaced a P1,000 bill a depositor had withdrawn from the bank’s automated teller machine, after a cashier at a nearby department store rejected the bill on grounds it was bogus.
Banco de Oro Unibank has completed a landmark $1-billion stock rights offering that will double its core or tier 1 capital, positioning tycoon Henry Sy’s banking arm for further growth amid a regime of more stringent capital adequacy requirements.
The Philippine Stock Exchange has approved a $1-billion stock rights offering planned by Banco de Oro Unibank for next month, an exercise meant to boost the core capital and growth objectives of the country’s largest bank.
Banco de Oro Unibank wants to take over the assets and deposit liabilities of Export and Industry Bank, which was recently placed under state receivership.
The Regional Trial Court (RTC) of Mandaluyong City has junked a trademark infringement and unfair competition complaint filed by European accounting group Stichting BDO against the Philippines’ Banco de Oro Unibank.
