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Tag: Karl Angelo N. Vidal

Healthcare funding gap must be plugged by more sin taxes —...

THE Department of Finance projects the Universal Healthcare (UHC) Act to have a total funding gap of P426 billion in the first four years of implementation if a fresh tax increase on tobacco and alcoholic beverages is not passed.

BDO completes sale of 15% stake in rural bank unit ONB

BDO Unibank, Inc. said it completed the sale of a minority stake in its rural banking unit to a Singapore investment firm.

Peso closes at over seven-week low after RRR cuts

THE peso plunged further against the dollar on Friday to its seven-week low, as market participants responded to the 200-basis-point reduction in the reserve requirement ratio (RRR) for big banks.

PHL raises $363.3M from ‘panda’ bond sale

THE PHILIPPINES raised 2.5 billion renminbi ($363.3 million) from its second sale of so-called “panda” bonds that saw strong demand from investors, the Treasury bureau and the Bank of China, sole underwriter for the exercise, announced in separate statements.

Robinsons Bank to raise P10B via bonds

ROBINSONS BANK Corp. is set to raise P10 billion in peso-denominated corporate bonds to support its lending growth, eyeing to issue the first tranche within three months.

Peso weakens ahead of RRR cut

THE PESO declined against the dollar to hit a fresh one-month low as market players awaited the central bank’s decision to trim lenders’ reserve requirement ratio (RRR).

PHL returns to ‘panda’ bond mart

THE PHILIPPINES returned to China’s bond market on Wednesday after more than a year, offering 2.5 billion renminbi ($363.3 million) in three-year papers amid perceived strong investor demand.

Seven-year bonds fully awarded on strong demand after rate cut

THE GOVERNMENT fully awarded the reissued seven-year Treasury bonds (T-bond) it offered yesterday amid overwhelming demand as the market continued to react to the rate cut implemented by the central bank last week.

RCBC to issue P5 billion in sustainability bonds

RIZAL COMMERCIAL Banking Corp. (RCBC) is set to issue at least P5 billion in two-year peso-denominated sustainability bonds, the first of its kind in the country, with the proceeds to fund environmental and social projects.

Peso rebounds vs dollar

THE PESO recovered against the dollar yesterday following the upbeat statement of US President Donald J. Trump on its trade negotiations with China that slightly boosted the risk appetite of investors.

‘Panda’ offer next after successful euro bond sale — Treasury official

DAYS after the government raised €750 million ($842.33 million) in eight-year euro-denominated bonds, the Bureau of the Treasury (BTr) said the planned yuan-denominated “panda” bonds could be issued within the week, even as the government monitors market conditions abroad.

Gov’t makes full award of T-bills as yields decline on BSP...

THE GOVERNMENT borrowed P15 billion as planned at its Treasury bills (T-bill) auction yesterday, with yields declining across all tenors following the policy rate cut of the Bangko Sentral ng Pilipinas (BSP).

PSBank net income rises

PHILIPPINE SAVINGS Bank (PSBank) saw its net income climb in the first quarter, driven by interest income growth as well as expense management.

Peso at one-month low on US-China trade war

THE PESO plunged to a one-month low against the dollar on Tuesday due to China’s retaliation against the United States’ imposition of increased tariffs on Chinese goods.

LANDBANK ‘still intent on buying’ PDSHC majority

LAND BANK of the Philippines (LANDBANK) is still keen on acquiring majority stake in Philippine Dealing System Holdings Corp. (PDSHC), operator of the country’s fixed-income bourse, and is updating its proposal.

Robinsons Bank targets to double net earnings

ROBINSONS BANK Corp. eyes to double its net profit this year on the back of growth in its earnings from interest and fees.

Peso likely to strengthen

THE PESO is seen to strengthen against the dollar this week following the continuation of trade negotiations between the United States and China amid increased tariffs on Chinese goods.

Yields on T-bills, bonds likely to drop this week

RATES OF government securities on offer this week will likely decline on the back of the recent policy rate cut from the local central bank as well as anticipation of a possible reduction in banks’ reserve requirement ratio (RRR).

Sun Life, Philam Life top insurer rankings

SUN LIFE OF Canada (Philippines), Inc. and Philippine American Life & General Insurance Co. (Philam Life) stood out among life insurers in terms of key insurance statistics in 2018, the Insurance Commission (IC) reported.

Peso weakens on GDP

THE PESO declined further against the dollar on Thursday due to slower-than-expected economic growth data and amid the market’s anticipation of the central bank’s policy decision.

Treasurer signals euro bond sale within the month

THE COUNTRY’s planned benchmark-sized euro-denominated notes will likely be offered “very very soon,” the head of the Bureau of the Treasury told reporters in Malacañan Palace on Wednesday, saying the government is still watching market developments for the right time to sell the debt papers.

RCBC books higher net income in 1st quarter on core business...

RIZAL COMMERCIAL Banking Corp. (RCBC) posted higher net income in the first quarter on the back of sustained core business growth.

PNB raises P13.87 billion from bonds

PHILIPPINE NATIONAL Bank (PNB) has issued P13.87 billion worth of peso-denominated bonds, with the raised funds be used to support its lending business.

Peso plunges vs dollar

THE PESO plunged against the dollar on Wednesday due to lower-than-expected Philippine trade balance data as well as market caution ahead of key data to be released today.

Metrobank net profit up

METROPOLITAN BANK & Trust Co. (Metrobank) saw higher net income in the first quarter driven by consistent lending and margin expansion as well as higher fee-based income.

National government debt rises to record P7.8 trillion at end of...

OUTSTANDING government debt rose to record levels in March following the issuance of retail Treasury bonds during that month and amid a weaker peso, the Bureau of the Treasury (BTr) said.

Peso rises against dollar as inflation slows in April

THE PESO strengthened against the dollar on Tuesday following upbeat inflation data.

DoF: Canadian red tape may delay garbage shipment

THE 69 container vans of garbage scheduled to be shipped back to Canada may not be returned before the May 15 deadline of President Rodrigo R. Duterte, due to bureaucratic red tape on the part of the Canadian government, the Department of Finance (DoF) said on Tuesday.

Gov’t makes full award of T-bills as rates decline on inflation...

THE GOVERNMENT made a full award of the Treasury bills it offered yesterday, with rates declining across all tenors as investors expect inflation to continue its downward trajectory, fuelling bets of monetary policy easing.

Insurance firms’ premium income climbs in 2018

THE INSURANCE INDUSTRY posted higher premium income in 2018 driven by robust growth across all sectors, the Insurance Commission (IC) reported.

Security Bank posts higher Q1 earnings

SECURITY BANK Corp. recorded slightly higher net income in the first quarter on the back of growth across its core businesses.

Peso weakens as Trump fuels trade woes

THE PESO declined against the dollar on Monday as investors flocked to safer currencies following renewed trade tensions between the United States and China.

Yields on T-bills likely to decline

RATES OF Treasury bills (T-bill) on offer today are expected to decline across all tenors, as market participants price in the recent sovereign debt rating upgrade of the Philippines and gear up for the slew of domestic data to be released this week.

Peso likely to strengthen

THE PESO may strengthen this week as investors position ahead of the release of key economic data.

SSS maternity benefit disbursements rise

THE SOCIAL SECURITY System (SSS) recorded higher disbursements in maternity benefits in 2018 and expects this to pick up further this year following the enactment of the Expanded Maternity Leave Law (EMLL).

Central bank sees rate cut impetus from S&P rating upgrade

THE BANGKO SENTRAL ng Pilipinas (BSP) sees room to “move faster” in easing monetary policy following the sovereign debt rating upgrade last April from S&P Global Ratings, the central bank chief said in an ABS-CBN News Channel (ANC) interview, noting that the domestic economy likely grew “slightly higher” than six percent in the first quarter of the year.

China Bank Q1 net profit rises 24% to P1.9 billion

CHINA Banking Corp. (China Bank) said earnings rose in the first quarter driven by the robust expansion of its core businesses.

PBB net profit rises 38% in first quarter

PHILIPPINE Business Bank (PBB) said net profit rose more than 38% in the first three months, following the strong performance of lending and treasury businesses.

Peso closes slightly higher in rangebound trading ahead of US jobs...

THE peso firmed against the dollar on Friday in quiet trading ahead of the release of US jobs data.

LANDBANK looking to roll out agent banking in remote areas

LAND BANK of the Philippines (LANDBANK) is setting its sights on agent banking as it plans to pilot test the model in eight remote areas in the country this year.

AUB Q1 net income jumps

ASIA UNITED Bank Corp. (AUB) saw its net profit surge in the first quarter as its core lending businesses remained robust amid competition.

DBP’s credit rating upgraded to BBB+

THE DEVELOPMENT Bank of the Philippines (DBP) has received a credit rating upgrade from S&P Global Ratings, reflecting the climb in the country’s debt rating.

Peso rises on S&P move

THE PESO strengthened against the dollar on Thursday, returning to the P51 level, as the sovereign credit rating upgrade from S&P Global Ratings boosted investor appetite for the local currency.

RCBC innovation head to push ‘sachet banking’

FORMER financial technology (fintech) firm head and now Rizal Commercial Banking Corp. (RCBC) Chief Innovation and Inclusion Officer Angelito “Lito” M. Villanueva eyes to continue his “sachet banking” push to include more unbanked Filipinos into the formal financial system.

PNB to complete thrift bank integration by mid-2019

PHILIPPINE NATIONAL Bank (PNB) targets to complete the consolidation of its savings lending arm with the parent lender by mid-2019, as it is still working on regulatory approvals.