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BPI Family Bank to pioneer auto loan securitization

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Screengrab from http://www.bpiloans.com/

Leading thrift bank BPI Family Bank plans to pioneer auto loan securitization in the country by unloading part of its auto loan portfolio into a special purpose trust (SPT) which will in turn sell P5 billion in retail bonds backed by these receivables.

Posted: August 20th, 2014 in Latest Business Stories | Read More »

Asia United Bank’s net profit grows by 7.6% to P879.5M in first half of 2014

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Screengrab from http://www.aub.com.ph/home

The Rebisco group’s banking arm Asia United Bank grew its six-month net profit by 7.6 percent year-on-year to P879.5 million on a double-digit growth in core lending and a recovery in treasury earnings, bucking the downturn seen by most of its banking peers.

Posted: August 18th, 2014 in Latest Business Stories | Read More »

Lucio Co to hike stake in PBCom

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Lucio Co. FILE PHOTO

Retailer lucio Co is set to hike his interest in Philippine Bank of Communications to nearly 50 percent, from around 38 percent, with a deal to buy out the stake held by British fund Ashmore through ISM Communications Corp.

Posted: August 18th, 2014 in Headlines,Latest Business Stories | Read More »

Filinvest Development nets P2.9 B

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SCREENGRAB from www.filinvestgroup.com

Filinvest Development Corp. posted a 9-percent year-on-year drop in first-semester net profit to P2.9 billion due to lower earnings of its banking subsidiary.

Posted: August 13th, 2014 in Latest Business Stories | Read More »

Security Bank nets P3.61 B in first half of 2014

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Security Bank Corp.  FILE PHOTO

Security Bank Corp. grew its first semester net profit by 115 percent year-on-year to P3.61 billion, defying the industry-wide downturn in treasury earnings.

Posted: August 12th, 2014 in Latest Business Stories | Read More »

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