By Doris C. Dumlao
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.
By Paolo G. Montecillo
The latest sovereign ratings upgrade the Philippines won from Standard & Poor’s (S&P) this week gives the country more than just bragging rights for having earned its highest credit rating ever. Officials said the improved rating, which they claimed represents the international community’s more favorable view of the Philippine economy, should translate into tangible […]
By the staff
Businessman Manuel V. Pangilinan took some time away from what we can only imagine is a busy schedule to keep it real with his Twitter followers Monday night. From 7 to 8 p.m., Pangilinan’s personal account @iamMVP answered queries from his more than 68,0000 followers from serious topics like business and sports (he’s keen on the NBA team Golden State Warriors) to more mundane matters like his favorite food (pork chop, apparently).
State-owned Development Bank of the Philippines (DBP) registered a net income of P5.28 billion last year, 27.85 percent higher than the P4.13 billion recorded in 2012, buoyed by significant increases in deposits, loans to borrowers and investments.
State prosecutors from the Office of the Ombudsman have asked the Sandiganbayan to deny for lack of merit the amended travel request of businessman Roberto Ongpin for a 14-nation swing around the world.