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The legacy of a great man

The loss of banking and business magnate Dr. George S.K. Ty is being felt in all the corners of the Philippine business community. Though chiefly...

Metrobank reopens two-year bond offering

METROPOLITAN Bank & Trust Co. (Metrobank) is looking to raise an additional P5 billion through another tranche of fixed-rate bonds, following a fresh offering earlier this month.

UCPB income slips in first nine months

THE United Coconut Planters Bank (UCPB) saw its net income slip as of the third quarter as it reeled from lower trading gains and higher borrowing costs.

From the Front Page: Local economy back on track to lead...

Your weekly recap of BusinessWorld news.

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.

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.

Yields on term deposits go up

YIELDS fetched on term deposits climbed anew this week as the central bank reduced the amounts offered during Wednesday’s auction.

Robinsons Bank to raise P3.5B via LTNCDs

ROBINSONS BANK Corp. is set to raise P3.5 billion through issuance of long-term negotiable certificates of deposit (LTNCD) next year to fund the expected growth of its lending segment.

BSP to require banks to report glitches within two hours

BANKS and other financial firms will soon be required to report cyber attacks and similar technology-related glitches within two hours, following the approval of new rules by the central bank.

BSP looking to bring PERA online as appetite stays low

THE CENTRAL BANK is eyeing to set up an online marketplace for the personal equity and retirement account (PERA), in a bid to attract more investments for the two-year-old savings scheme.

PSBank looking to issue P10-billion medium-term notes

PHILIPPINE Savings Bank (PSBank) plans to issue medium-term notes of up to P10 billion to raise fresh funds to expand its core businesses.

Gross international reserves climb in August

THE COUNTRY’S gross international reserves (GIR) grew in August on the back of net foreign currency deposits of the government and income from the central bank’s external investments, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

Smaller banks ask for more time to build up buffers for...

THE Chamber of Thrift Banks (CTB) urged the Bangko Sentral ng Pilipinas (BSP) to push back the implementation of new liquidity requirements by a year as smaller lenders need more time to build up their capital, a top official said.

DBP books higher net income in first semester

THE Development Bank of the Philippines (DBP) saw its net income rise in the first half of the year supported by its robust lending and deposit businesses.

PNB’s Maclang to retire

PHILIPPINE National Bank (PNB) President Reynaldo A. Maclang will retire from his post mid-November, to be replaced by a bank executive from a global bank.

Banks to outperform Asian lenders as interest margins widen

PHILIPPINE BANKS will continue to outperform their Asian peers given wider interest margins, with a more aggressive rate hike from the Bangko Sentral ng Pilipinas (BSP) to give lenders another boost.

RCBC net income slips in first semester

RIZAL Commercial Banking Corp. (RCBC) posted a P2.2-billion net income as of end-June, fuelled by steady growth in its core businesses but dampened by lower trading gains.

UnionBank to conduct P10-billion SRO next month

UNIONBANK of the Philippines will proceed with its planned stock rights offer next month, as it works to raise fresh capital to support expansion.

BSP simplifies rules for banks’ bond floats

THE CENTRAL BANK has simplified rules for lenders issuing bonds to raise additional capital, its chief said, which is expected to replace long-term note offerings.

Central bank eyes ‘national QR code’ for retail payments

THE BANGKO SENTRAL ng Pilipinas (BSP) will require financial firms to use a standard design for quick response (QR) codes to allow simpler transactions across service providers.

BDO books flat first-half net income

SY-LED BDO Unibank, Inc. reported a P13.1-billion net income as of end-June, slipping from a year ago amid lower non-interest gains and bigger operating costs.

Liquidity growth picks up slightly

By Melissa Luz T. Lopez, Senior Reporter MONEY SUPPLY grew faster in May even as growth in bank lending eased, the Bangko Sentral ng Pilipinas...

RCBC prices P15-billion stock rights offering

RIZAL COMMERCIAL Banking Corp. (RCBC) has set the final terms for its stock rights offer (SRO), through which it looks to raise P15 billion to strengthen its capital ratio and fund its business expansion.

Veterans Bank relaunches Mindanao branches as it targets new market

DAVAO CITY — Philippine Veterans Bank (PVB) has started relaunching its branches in key Mindanao cities as it aims to expand its market base, beginning with soldiers, military retirees and local government employees.

UnionBank to conduct P10-B SRO in July

UNIONBANK of the Philippines, Inc. is set to conduct its P10-billion stock rights offering (SRO) in July, which will raise additional capital for the...

How ING paints the town orange

Q and A with Cees Ovelgonne, IBSS Manila country manager Since Dutch financial giant ING Bank, N.V. first established presence in the Philippines 28 years...

PHL to stay out of any settlement on bank heist case

THE COUNTRY’S Finance chief said the Philippine government will not be involved in the out-of-court settlement proposed by Bangladesh for the $81-million bank heist...

BSP OKs entry of new credit card issuers

By Melissa Luz T. Lopez, Senior Reporter THE BANGKO SENTRAL ng Pilipinas (BSP) will allow new credit card issuers to enter the Philippine market, as...

China Bank income rises in Q1

CHINA BANKING Corp. (China Bank) saw its net profit rise slightly in the first quarter of the year amid growth in its core businesses. In...

BPI lists SRO shares

BANK OF THE Philippine Islands (BPI) has listed 599.7 million new common shares at the local bourse following the completion of a P50-billion stock...

PNB aims to grow 2018 profit by 13%-14%

Philippine National Bank (PNB) intends to grow its net income by 13-14% this year as it plans to ramp up the growth of its...

PNB gets SGX approval for term note program

PHILIPPINE National Bank (PNB) has secured approval from the Singapore Stock Exchange (SGX) for the listing of its $1-billion medium-term note (MTN) issuance. The Tan-led...

Disruption Down the Road: What Banks Are Facing And What...

By Jonee C. Bilasano So much chatter has been going around regarding the state of the banking industry. Some say it is about to undergo...

Yields on term deposits end mixed

By Melissa Luz T. Lopez, Senior Reporter YIELDS on term deposits saw mixed movements on Wednesday ahead of a break from trading, matching the reduced...

FCDU loans up in 2017

FOREIGN CURRENCY loans granted by Philippine banks went up in 2017, latest central bank data showed, with bigger credit lines extended to logistics and...

Bank of Makati net profit surges

BANK of Makati, Inc. (BMI) doubled its net profit in 2017 on the back of its motorcycle loan business. In a statement obtained by BusinessWorld,...

PNB net income grows 14% in 2017

Philippine National Bank (PNB) saw its net income rise in 2017 on the back of the growth in its core operating income. In a disclosure...

Bank of Makati to open 40 branch-lite offices

BANK of Makati, Inc. (BMI) wants to open branch-lite offices this year to tap the unbanked and underserved Filipinos in rural areas. During the launch...

Thrift banks’ NPLs climb in 2017

SOURED DEBTS held by thrift lenders grew by a tenth in 2017 to match the increase in total loans granted from a year ago,...

Batangas rural bank ordered shut

A RURAL BANK in Batangas has been ordered shut by the Bangko Sentral ng Pilipinas (BSP), becoming the second lender to be closed down...

BSP sets minimum liquidity ratio for small lenders

By Melissa Luz T. Lopez, Senior Reporter THE CENTRAL BANK will impose liquidity standards on small banks by 2019, parallel to a measure imposed on...

China Bank net profit up 15%

CHINA BANKING Corp. (China Bank) saw its net income grow in 2017 on the back of sustained growth in its core and fee-based businesses. In...

UnionBank posts lower income in 2017

UNIONBANK of the Philippines (UnionBank) booked a lower net income in 2017 despite positive recurring income across all its business segments. In a disclosure to...

China Bank Securities sees 75% revenue growth this year

CHINA BANK Securities Corp., the stock brokerage arm of China Bank Capital Corp. (CBCC), is looking at a 75% growth in its revenues this...

Liquidity, lending growth decelerate in November

By Melissa Luz T. Lopez, Senior Reporter MORE MONEY circulated in the economy as of November on the back of sustained bank lending, although growth...