Peso weakens on consolidation
THE PESO weakened back to the P53-per-dollar level on Monday, normalizing after a large inflow to a local firm last week, with markets also unimpressed by economic data.
T-bills may fetch lower rates ahead of BSP’s policy review
YIELDS on Treasury bills (T-bills) on offer today are seen to go down a tad as the market see indications a break in the central bank’s monetary tightening, although some upward pressure still remains over slower economic growth.
Yields on gov’t debt drop
YIELDS on government securities (GS) went down last week after the release of steady October inflation as well as slower third-quarter economic growth data, which may prompt the central bank to moderate its policy tightening at its meeting this week.
Peso seen weakening vs dollar
THE PESO could weaken and go back to the P53-per-dollar level this week as market players expect strong economic data in the United States, although eyes are also on the local central bank’s rate decision due on Thursday.
Bond traders seek revival of local repo market
BOND TRADERS are looking to revive the local repurchase market at a time of tighter liquidity, as the platform has seen little action in recent months with banks still reluctant to lend cash.
Metrobank raises P10 billion from fixed-rate bonds
METROPOLITAN Bank & Trust Co. (Metrobank) has raised P10 billion in fresh funds via fixed-rate bonds — the first ever bond issuance by a local lender since the regulator liberalized rules on banks’ fundraising activities.
RCBC, EastWest Bank book lower profits in first nine months
RIZAL Commercial Banking Corp. (RCBC) and East West Banking Corp. (EastWest Bank) saw their net incomes decline in the first nine months due to lower trading gains and revenues, respectively.
BSP closes Quezon City bank
THE BANGKO SENTRAL ng Pilipinas (BSP) has shut down a bank based in Quezon City, bringing the number of closed lenders to 12 this year.
Peso snaps winning streak on Fed hike bets
THE PESO ended its five-day uptrend on Friday to log its weakest showing in three days, just as bets of another rate hike in the United States next month became more certain.
China Bank posts lower income at end-Sept. as revenues drop
CHINA BANKING Corp. (China Bank) saw its net income slip as of end-September, bogged down by lower non-interest revenues despite higher loans booked during the period.
Sun Life still country’s top life insurer in 2017
SUN Life of Canada (Philippines) Inc. was the top life insurer in 2017 based on premium income with P32.11 billion, the Insurance Commission (IC) said on Thursday.
PNB net profit surges on loans, one-off gain
PHILIPPINE National Bank (PNB) saw its net income surge as of September, driven by one-off gains from asset sales as well as a bigger loan book.