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BDO seen keen on bidding for Cocobank

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FILE PHOTO

The SM group-led Banco de Oro Unibank will consider an opportunity to bid for United Coconut Planters Bank when the government proceeds with a plan to privatize the bank.

Posted: April 20th, 2014 in Editor's Pick,Headlines | Read More »

Sterling Bank on acquisition mode

Sterling Bank Asia, one of the largest independent thrift banks in the country, is on the lookout for new acquisitions as a means to fast-track growth and possibly obtain a license to upgrade to commercial banking.

Posted: April 20th, 2014 in Headlines | Read More »

Are you ready to grrrrrumble?

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Question: I have five years left before I retire. I have time deposit placements that I kept on rolling over for the past five years. Unfortunately, the interest on these time deposit placements has been coming down and it seems that I just end up giving the bank cheap money to borrow. Please help me find a better place where I can invest my money for the next few years or up to the time I retire.—posted on PFA’s “ask a friend, ask Efren” service.

Posted: April 17th, 2014 in Columnists,Headlines,Inquirer Columns | Read More »

China Bank prices rights offering at P49.50

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Screengrab from www.chinabank.ph

China Banking Corp., which is part of the SM group, has firmed up an P8-billion stock rights offering, its first capital-raising initiative of this kind in nearly two decades, at a price of P49.50 per share.

Posted: April 15th, 2014 in Latest Business Stories | Read More »

East West Bank eyes P5B in sale of preferred shares

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Screengrab from https://www.eastwestbanker.com/

The Gotianun-led East West Bank plans to raise as much as P5 billion from the sale of preferred shares, bracing for growth opportunities amid stringent capital adequacy requirements under the Basel 3 framework.

Posted: April 14th, 2014 in Latest Business Stories | Read More »

BPI seen off to a good start

PHOTO courtesy of BPI

Bank of the Philippine Islands is off to a good start this 2014 with corporate lending rising in the first quarter by a faster pace than the 22-percent growth targeted that the bank has set for the whole year.

Posted: April 14th, 2014 in Latest Business Stories | Read More »

Biz Buzz: Winning streak

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They say good things come in pairs or threes but the transportation department—which is the one agency now that needs a positive lift as Metro Manila commuters simmer on MRT’s woes—has been defying those averages.

Posted: April 14th, 2014 in Headlines | Read More »

Filinvest profit up by 12% in ’13

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Filinvest Development Corp. (FDC) grew its net profit last year by 12 percent to P6.5 billion as its banking and property businesses posted double-digit rate of rise.

Posted: April 14th, 2014 in Headlines | Read More »

PH banks taking out less loans from BSP

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Loans from the central bank’s rediscounting facility continued to shrink at the end of March of this year because of the cheap cash now circulating in the local financial system.

Posted: April 12th, 2014 in Headlines | Read More »

PNB president retiring

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mier-0411

Philippine National Bank announced Friday the retirement of its president Omar Byron Mier after 12 years of service to the bank.

Posted: April 11th, 2014 in Latest Business Stories | Read More »

Moody’s expects profit pressure on local banks

Profits of local banks may come under more pressure in the coming months as interest rates rise, bringing down the value of government securities that make up much of lenders’ assets.

Posted: April 9th, 2014 in Headlines | Read More »

World Bank urges gov’t to raise taxes

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AFP FILE PHOTO

Raising government revenues further to finance the state’s ambitious infrastructure program will be key to keeping economic growth above the 7-percent threshold for increasing jobs and reducing poverty, the World Bank said.

Posted: April 8th, 2014 in Editor's Pick,Headlines | Read More »

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