Landbank loan portfolio grows by 13%
By Riza T. Olchondra
Land Bank of the Philippines said its loan portfolio grew by 13 percent to P274 billion in the first quarter of 2013 from P243 billion in the same period last year.
Land Bank of the Philippines said its loan portfolio grew by 13 percent to P274 billion in the first quarter of 2013 from P243 billion in the same period last year.
The Bangko Sentral ng Pilipinas (BSP) has established a rating system that will evaluate banks’ compliance with various regulations that were designed to ensure the sustainability of their favorable financial standing.
Switzerland, currently in the process of restituting assets to several former autocratic countries, is working on a new law aimed at simplifying the process of freezing and unblocking such funds, the government said Wednesday.
Bent on pushing more money out of vaults and into the economy, the Bangko Sentral ng Pilipinas has issued a memorandum to banks that will further limit their access to the BSP’s special deposit account (SDA).
Bank of the Philippine Islands is set to roll out this week a new unit investment trust fund (UITF) that will track the main-share Philippine Stock Exchange index, riding on strong investor appetite for equities.
The Rebisco group’s banking arm, Asia United Bank, debuted strongly on the Philippine Stock Exchange on Friday as investors bet on the company’s robust growth prospects.
The Rebisco group’s banking arm, Asia United Bank, debuted strongly on the Philippine Stock Exchange on Friday, bucking the generally sluggish market, as investors bet on growth prospects for the years ahead.
Boss, we have a problem: The government-run Development Bank of the Philippines seems to be going out of kilter, appallingly lagging in profitability behind other banks, including another government bank, the Land Bank of the Philippines.
The chief of the defunct Export and Industry Bank has decried charges against him and other former bank officers by the state-owned Philippine Deposit Insurance Corp. of having allegedly engaged in “unsafe and unsound” banking practice.
Security Bank Corp. grew its first-quarter net profit by 11 percent year on year to P1.2 billion as steady interest earnings were complemented by a triple-digit rise in revenues from non-interest income.
Metropolitan Bank and Trust Co. tripled its profit in the first three months of the year from year-ago level to P11.4 billion. It was the highest quarterly profit recorded by a local bank.
The Bankers Association of the Philippines said Wednesday its members will not comply with the Comelec’s “money ban,” which the group said would be disruptive to business and commercial transactions within the economy.
