‘BANKING AND FINANCE’ Archives
BSP readies disaster-recovery plan
THE Bangko Sentral ng Pilipinas is nearly done fine tuning an expanded set of guidelines under which banks must work out their systems to recover quickly from any disaster. According to BSP Director Gail U. Fule, the expanded guidelines are now being bounced off among the various banks in the country for their comments. Feedback from the [...]
RCBC income up by 18%
NET profits of Yuchengco-led Rizal Commercial Banking Corp. (RCBC) rose by nearly 18% in the nine months ending September, with net interest and non-interest earnings climbing during the period. In a statement released on Friday, the bank said: “RCBC’s net income for the reached P4.8 billion, 17.65% higher than the P4.08 billion [...]
Land Bank of the Phils opens new branch in Buluan, Maguindanao
By SHAHANA JOY E. DUERME Contributor KORONADAL City -- The Land Bank of the Philippines (LBP) formally opened its new branch in the Buluan, Maguindanao. Gilda E. Pico, president and CEO of Land Bank said the new branch will serve the neighboring communities, adding that the bank aims to provide good service as well as to contribute growth [...]
Maybank enhances product offering in the Philippines Launches Maybank Credit Card
Maybank enhances product offering in the Philippines Launches Maybank Credit Card To complement its present line of financial products and strengthen its presence in the Philippine retail market, Maybank Philippines, Incorporated (MPI) unveiled its Maybank Credit Card product at the Marriott Hotel on October 11, 2012 (10.11.12). The credit [...]
Security Bank gets award for Corporate Governance
SECURITY Bank Corporation (PSE:SECB) was recognized as one of the Top-scoring Publicly-Listed Companies (PLCs) by the Institute of Corporate Directors’ (ICD) with the Silver Award during the ICD’s 9th Annual Dinner held recently. The Corporate Governance Scorecard is exercised yearly by the ICD in continuing its advocacy to promote good [...]
Landbank loans to priority sectors up 10% in Q1
STATE-RUN Land Bank of the Philippines (Landbank) said loans to its priority sectors grew by nearly a tenth in the first quarter as it continued to reach out to more clients in the countryside, its top official said. (more...)
Depositors to file estafa case vs Export Bank execs
SEVERAL depositors of the closed Export and Industry Bank (EIB) are planning to file charges of syndicated estafa against bank officials. (more...)
Maybank Philippines announces new President
MAYBANK has announced the appointment of Mr. Herminio M. Famatigan Jr., as incoming President and CEO of Maybank Philippines, Inc. (MPI) with effect from March 15, 2012. The appointment is subject to the confirmation by the Monetary Board of the Bangko Sentral ng Pilipinas (BSP). Mr. Famatigan graduated from the University of the [...]
BPI Posts Net Income of P12.8 Billion in 2011
The Bank of the Philippine Islands (BPI) posted an unaudited net income of P12.8 billion for full year 2011, a 13.4% increase over the P11.3 billion reported in 2010. This result translated to a Return on Equity of 15.2% and a Return on Assets of 1.6%. Total revenues grew by 7% as net interest income improved by 10% due to the expansion of P48 [...]
One Network Bank income up by 38%
By CARMELITO Q. FRANCISCO, Correspondent DAVAO City -- One Network Bank Inc. increased its net income 38% annually to P428 million in 2011, driven by loans to key market segments like public school teachers, a statement on Monday read. The press statement quoted the Mindanao-based rural bank’s president and chief executive officer, Alex V. [...]