Tycoon Henry Sy-led China Bank has unveiled a new unit investment trust fund (UITF) that will invest in a portfolio of select equities, targeting investors with higher risk appetite and a longer investment horizon.
The country’s major banks remain well capitalized and prepared for unexpected hits that may come from economic problems overseas, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.
Philippine Business Bank, the newly listed thrift banking arm of Afredo Yao’s Zest-O Group, said its board had set the bank’s dividend pay-out policy at 20 percent to 30 percent of its annual net income, a filing to the Philippine Stock Exchange showed.
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.
Banks in general have not relaxed their credit requirements as far as extending real estate loans to individual borrowers is concerned, BDO Capital and Investment Corp. president Eduardo Francisco said.
The Court of Appeals has lifted the five month-long freeze order on the bank accounts of businessman Roberto Ongpin and several of his co-accused in the allegedly behest loans extended to him by the Development Bank of the Philippines.
Gotianun-led East West Bank grew its first quarter net profit by 60 percent to P735 million from a year ago on higher interest margins alongside a surge in fee-based and trading income.
Business leaders concerned about operations of small and medium enterprises criticized the Commission on Election’s (Comelec) “money ban.”
With the continued rise of liquidity in the economy, which had pushed the Philippine Stock Exchange Index above 7,000 points, the Bangko Sentral ng Pilipinas is considering imposing stricter underwriting standards and higher capital requirements to cover risky assets held by banks.
Moody’s Investors Service has affirmed the long-term deposit ratings of the country’s three largest banks—Banco de Oro (BDO), Bank of the Philippine Islands (BPI) and Metropolitan Bank & Trust Co. (Metrobank)—citing their substantial liquidity and likelihood of sustaining profitability.
After hitting record low levels in 2012, commercial lending rates have started to climb since the start of the year on the back of growing demand for credit that comes with an expanding economy.
The Bangko Sentral ng Pilipinas has tightened its watch on the loan exposures of conglomerate-owned banks to sister companies in the property sector on concerns that this could threaten the stability of the banking industry.
