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BSP seen to slash SDA rates by 50 basis points

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FILE PHOTO

The Bangko Sentral ng Pilipinas is widely expected to slash rates on special deposit accounts (SDAs) by another 50 basis points during its monetary policy setting meeting on Thursday.

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

First Metro Investment nets P2.3 B in 1st Q

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First Metro image

First Metro Investment Corp., the investment banking arm of the Metrobank group, jacked up its first quarter net profit by 134 percent year-on-year to P2.3 billion, boosted mostly by treasury earnings.

Posted: April 23rd, 2013 in Latest Business Stories | Read More »

BDO forecasts P20-B profit this year; makes P10-B in 1st Q

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Banco de Oro, the country’s largest bank, expects to breach the P20-billion net profit mark this year as hefty trading gains in the first quarter are seen complementing robust interest earnings.

Posted: April 19th, 2013 in Latest Business Stories | Read More »

SMC raises $800 M via overseas bond issue

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San Miguel Corp. has raised $800 million from a 10-year overseas bond sale, setting a new record as the largest US dollar-denominated corporate bond issue carved out of the Philippines.

Posted: April 19th, 2013 in Latest Business Stories | Read More »

New PSBank president named

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Philippine Savings Bank has announced the retirement of long-time president Pascual Garcia III and the appointment of Vicente Cuna Jr., an executive at parent company Metropolitan Bank and Trust Co., as his successor effective Friday.

Posted: April 18th, 2013 in Latest Business Stories | Read More »

Business Bank reports 1st Q profit of P593 M

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A pedestrian walks past an advertisement for a shopping mall under construction in Manila on Jan. 31, 2013. Corporate Philippines is riding on a “sky-high” confidence level this year, topping business sentiment elsewhere in Southeast Asia on the back of good local economic prospects, British bank Standard Chartered said.  AFP PHOTO/TED ALJIBE

The newly listed Philippine Business Bank grew its first quarter net profit by 34.1 percent year-on-year to P593 million on strong contribution from its treasury business.

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

First Pacific raises $400 M in bond offering

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PLDT chairman Manuel V. Pangilinan: Signs of growth.   INQUIRER FILE PHOTO

A unit of Hong Kong-based First Pacific Co. Ltd. led by Manuel V. Pangilinan has raised $400 million through the group’s maiden 10-year international bond offering.

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

Most Filipinos at ease with online banking, survey shows

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AFP FILE PHOTO

Three out of four Filipinos are now comfortable conducting banking transactions online, according to the results of a Citigroup online poll.

Posted: April 3rd, 2013 in Latest Business Stories | Read More »

Filinvest floats $300M in 7-year offshore bonds

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filinvest

The Gotianun-led conglomerate Filivest Development Corp. has debuted in the offshore bond market with a warmly received $300-million bond deal that marked a new low in terms of borrowing cost for a Philippine corporate issuer for this tenor.

Posted: March 22nd, 2013 in Latest Business Stories | Read More »

PSBank eyes P2.6-B net income this year

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Philippine Savings Bank, the thrift bank of the Metrobank group, aims to end this year with another record-high net profit of P2.6 billion on the back of double-digit growth in consumer lending.

Posted: March 20th, 2013 in Latest Business Stories | Read More »

SEC okays bank’s recapitalization

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The Securities and Exchange Commission has approved Philippine Bank of Communications’ bid to beef up and simplify its capital base.

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

Local stock index seen hitting 7,400 this year

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The Philippine Stock Exchange index may hit the 7,300 to 7,400 level this year as the Philippines attains investment-grade credit rating and further liquidity is released from special deposit account (SDA) rate cuts, investment bank First Metro Investment Corp. said Tuesday.

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

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