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SMC to take new investors in banking, power

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SMC president Ramon S. Ang: Confirmation.  AP FILE PHOTO

Conglomerate San Miguel Corp. plans to take in new strategic investors for its banking and power-generation units as it pursues a diversification program that includes forays into infrastructure and heavy industry.

Posted: July 12th, 2013 in Latest Business Stories | Read More »

Bank of Commerce sale to CIMB falls on real estate issues

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In a disclosure to the stock exchange Bursa Malaysia dated June 21, CIMB Group Holdings said the bank would no longer push through with the purchase of a 59.98-percent interest in the Bank of Commerce.  PHOTO FROM CIMB’S FACEBOOK ACCOUNT

The sale of Bank of Commerce by conglomerate San Miguel Corp. (SMC) to Malaysian banking giant CIMB has been officially called off due to unresolved issues on real estate ownership.

Posted: June 24th, 2013 in Latest Business Stories | Read More »

SMC sells BoC stake to CIMB for P12.2B

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Conglomerate San Miguel Corp. has finalized a P12.2-billion deal to sell a controlling stake in Bank of Commerce to Malaysian banking giant CIMB, after resolving property ownership-related snags that had delayed the closing of the deal.

Posted: June 12th, 2013 in Editor's Pick,Headlines | Read More »

Malaysian bid to buy PH bank snagged

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SMC president Ramon S. Ang: Confirmation.  AP FILE PHOTO

Malaysian banking giant CIMB’s bid to acquire Bank of Commerce has hit a snag and seller San Miguel Corp. is willing to walk away from the P12.2-billion deal if this is not resolved soon.

Posted: May 13th, 2013 in Editor's Pick,Headlines | Read More »

Biz Buzz: Cartel breaker

Some big players in the gaming industry are somewhat peeved by the aggressive recruiting tactics of Bloomberry Resorts Corp. of ports tycoon Enrique Razon Jr.

Posted: January 2nd, 2013 in Headlines | Read More »

BSP gives go-ahead to CIMB acquisition

REGULATORS have given the green light for CIMB Bank’s planned takeover of Bank of Commerce in line with the Malaysian giant’s Southeast Asian expansion ambition.

Posted: November 24th, 2012 in Headlines | Read More »

Malaysian group sets expansion plan for PH bank

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Malaysian banking giant CIMB has unveiled an aggressive expansion plan for newly acquired Philippine banking franchise Bank of Commerce, after signing on Tuesday a deal to acquire a 60-percent stake in the bank from the San Miguel group for some P12.2 billion.

Posted: May 9th, 2012 in Editor's Pick,Headlines | Read More »

San Miguel Corp. sells 58% stake Bank of Commerce to CIMB

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ON A BUYING BINGE. San Miguel Corp. says it’s in talks to buy several big acquisitions.

Conglomerate San Miguel Corp. signed on Tuesday a deal to sell a 58 percent stake in banking unit Bank of Commerce to Malaysian banking giant CIMB for about P12 billion.

Posted: May 8th, 2012 in Latest Business Stories | Read More »

SMC sells 60% of Bank of Commerce

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bank-of-commerce

San Miguel Corp. has finalized a deal to sell a controlling stake in medium-sized lender Bank of Commerce to Malaysian banking giant CIMB Group for more than $200 million.

Posted: April 16th, 2012 in Editor's Pick,Headlines | Read More »

Malaysia’s CIMB eyes stake in SMC’s Bank of Commerce

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Conglomerate San Miguel Corp. is in talks with Malaysian banking giant CIMB group to build a local banking partnership through medium-sized commercial bank Bank of Commerce. Banking sources familiar with the discussions said San Miguel would like to bring in Kuala Lumpur-based CIMB as a strategic investor in its banking arm BoC. The San Miguel [...]

Posted: October 6th, 2011 in Headlines | Read More »

Bank against the wall

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Word is going around in business that a foreign bank is acquiring the majority control of a mid-sized local bank which is largely owned by San Miguel Corp. That is Bank of Commerce, or BoC, with assets of P106 billion as of last year and which ranked the 15th-largest bank in the country. In comparison, [...]

Posted: September 26th, 2011 in Inquirer Columns | Read More »

BanCommerce opens five more branches

Bank Of Commerce has opened five more branch channels in the first half of 2011, bringing its total branch network to 122 nationwide. Bank senior vice president Deo Jacinto said the latest addition to the bank network opened in Puerto Princesa, Palawan; Balanga, Bataan; and Rosario, Cavite, that were simultaneously opened last May 6. The [...]

Posted: June 19th, 2011 in Headlines | Read More »

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