DBS CEO sanguine on 2020 outlook
DBS GROUP Holdings Ltd. expects profit will keep growing next year despite mounting headwinds, after Southeast Asia’s biggest bank posted better-than-estimated results in the third quarter.
AUB raises P7B via bonds
ASIA UNITED Bank Corp. (AUB) raised a total of P7 billion from its three-year bond offer, above its original program on the back of strong demand.
Peso plunges on geopolitical concerns
THE PESO plunged on Monday due the escalating tensions in Hong Kong, negative developments in the US-China trade war, as well as the continued decrease in inflows of foreign direct investments (FDI) into the Philippines.
T-bonds may fetch lower rates
THE RATES on reissued 10-year Treasury bonds (T-bond) on offer on Tuesday will likely decline amid easing inflation and as the market waits for updates on the US-China trade war.
Yields on gov’t debt flat
GOVERNMENT BOND yields barely changed last week even with lower inflation and faster-than-expected economic growth in the third quarter.
Peso to strengthen as BSP halts easing cycle
THE PESO is seen to climb this week on the back of local economic data coming up and signals of a pause in monetary easing from the central bank.
BSP orders closure of two rural banks
THE BANGKO SENTRAL ng Pilipinas (BSP) ordered the closure of Batangas-based Maximum Savings Bank., Inc., mandating the Philippine Deposit Insurance Corp. (PDIC) to take over the rural bank.
There’s room for another BSP rate cut in 2020: MUFG
THE Philippine central bank might further cut benchmark interest rates next year as the economy continues to pick up amid global conditions, according to Leong Sook Mei, Association of Southeast Asian Nations head of Global Markets Research at MItsubishi UFJ Financial Corp.
Peso barely moves as market waited for US-China deal
THE peso slightly weakened against the dollar on Friday as markets waited for details of a trade tariff deal between the US and China.
Central bank shuts down another rural bank
THE Philippine central bank has ordered for the closure of AMA Rural Bank of Mandaluyong, Inc. and ordered the Philippine Deposit Insurance Corp. (PDIC) to take over its liquidation.
PSBank Q3 net income jumps 20% on fees
PHILIPPINE Savings Bank (PS Bank) posted a 20% increase in profits to P813 million in the third quarter from a year earlier, boosted by interest and fee-based income, according to a stock exchange filing on Friday.
SSS wants to cover more informal sector workers
THE state-run Social Security System (SSS) wants to include workers in the informal sector in its pension coverage as part of a plan to improve the system.