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More mergers in rural banking sector seen

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Depositors are greeted by an iron grill gate and a notice announcing the closure of Rural Bank of San Fernando in San Fernando town, Cebu province. The Bangko Sentral ng Pilipinas expects more mergers in the rural banking sector as industry players take advantage of regulatory incentives, allowing them to time their moves to gain greater economies of scale.  TONEE DESPOJO/CEBU DAILY NEWS

The Bangko Sentral ng Pilipinas (BSP) expects more mergers in the rural banking sector as industry players take advantage of regulatory incentives, allowing them to time their moves to gain greater economies of scale.

Posted: April 7th, 2014 in Featured Gallery,Latest Business Stories,Photos & Videos | Read More »

Incentives for co-op bank mergers revived

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Regulators have approved the revival of a program that aims to weed out weak cooperative banks by encouraging mergers and acquisitions in the industry through financial and other incentives.

Posted: December 31st, 2013 in Headlines | Read More »

China Bank gets BSP nod to merge units

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chinabank

The China Bank group has obtained approval from the Bangko Sentral ng Pilipinas to merge its thrift and rural bank units.

Posted: November 29th, 2013 in Latest Business Stories | Read More »

SEC approves merger of SM Prime, SM Land

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The Securities and Exchange Commission has approved the merger of SM Prime Holdings Inc. (SMPH) and privately held SM Land Inc. The emerging entity will become Southeast Asia’s largest real estate firm.

Posted: October 11th, 2013 in Headlines | Read More »

Bangko Sentral OKs merger of 6 co-op banks

The central bank has approved the merger of six small banks into one stronger bank that would have a branch network in Luzon, Visayas and Mindanao.

Posted: October 10th, 2013 in Headlines | Read More »

Biz Buzz: Imminent union

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The union of the Philippine Stock Exchange and the Philippine Dealing System (PDS) group looks on track to meet the 90-day target to come up with a definitive framework. Sources privy to the discussions said most issues had been resolved, with share valuation as the only remaining hurdle.

Posted: July 24th, 2013 in Editor's Pick,Headlines | Read More »

Merger of PSE, PDEx seen happening in ’13

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pse-logo

The Philippine Stock Exchange is looking at the possibility of merging with the Philippine Dealing and Exchange Corp. within the year, thus creating a unified platform for trading of stocks and bonds.

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

Biz Buzz: Merger precondition

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There seems to be no stopping the move to merge the Philippine Dealing System Holdings Corp. (PDS) with the Philippine Stock Exchange, with the latter as the surviving entity—a move that will create a unified bourse and allow fund managers, bankers and even retail investors to trade both stocks and bonds.

Posted: April 29th, 2013 in Headlines | Read More »

Biz Buzz: Inside info?

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An official of this large publicly listed company sold some shares in his company shortly before a subsidiary reported a major adverse development that resulted in a free fall of the share prices of affiliated companies. As such, regulatory filings suggest that the official was able to lock up gains ahead of the selldown—although it remains to be proven whether he had done so because of some advanced information not available to the investing public.

Posted: March 11th, 2013 in Headlines | Read More »

Biz Buzz: Reunion with Bill Gates

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It was not part of his tight schedule during his trip to Davos but (WEF) newbie P-Noy had a brief encounter with the iconic Bill Gates coming out of a meeting with WEF founder and executive chair Klaus Schwab. Emerging from the meeting with Schwab, it so happened that Gates was the next person in line so the two were able to exchange pleasantries and pose for photos. The chance encounter with Gates—a long-time WEF backer and regular Davos attendee—took about three minutes.

Posted: January 28th, 2013 in Headlines | Read More »

PNB eyes strategic investor after merger with Allied Bank

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pnb-allied

Philippine National Bank, the banking arm of tycoon Lucio Tan, may take in a strategic investor only after completing its merger with Allied Banking Corp. within the next 18 to 24 months.

Posted: January 21st, 2013 in Latest Business Stories | Read More »

PNB-Allied merger to push through by February

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Taipan Lucio Tan has secured the last local and foreign regulatory approvals needed to finally merge by next month his banking arms Philippine National Bank and Allied Banking Corp.

Posted: January 18th, 2013 in Headlines | Read More »

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