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Tag: Karl Angelo N. Vidal

PSBank raises P8B from stock rights offer

PHILIPPINE Savings Bank (PSBank) on Thursday said it raised P8 billion from a recently completed stock rights offer, which will be used to support the bank’s growth and strengthen capital adequacy.

Pru Life UK to launch asset management unit within the year

PRU LIFE Insurance Corp. of UK (Pru Life UK) is planning to launch an asset management and trust unit within the year.

RCBC to offer peso green bonds

RIZAL Commercial Banking Corp. (RCBC) is set to offer local currency green bonds under its newly established framework to support local environmental and climate projects.

Peso falls against dollar

THE PESO plunged against the dollar on Thursday from its eight-month highs, as investors cut their short dollar positions amid geopolitical developments in the United Kingdom and the United States.

Philippine GDP growth seen slowing

PHILIPPINE economic growth will likely slow up to this year, according to latest estimates of a macroeconomic surveillance organization for the Association of Southeast Asian Nations (ASEAN) Plus 3 economies and HSBC Private Bank.

Banks paint ‘manageable’ Hanjin risk

FITCH SOLUTIONS on Tuesday added its voice to expectations that debt woes of Hanjin Heavy Industries and Construction Philippines, Inc. (HHIC-Phil) will not likely shake the Philippines’ financial sector, as four of the affected local banks disclosed some details of their exposure to the troubled Korean shipbuilder.

Transactions via Fexco EasyDebit grow to P1 billion

FINANCIAL TECHNOLOGY firm Fexco EasyDebit saw robust growth last year, processing over P1 billion in transactions since its launch in 2017.

Peso rebounds to 8-month high

THE PESO rebounded against the dollar on Tuesday to a fresh eight-month high amid increased risk appetite from investors following the US central bank’s reassurance that it will be patient in hiking interest rates this year.

Gov’t upsizes Treasury bill award as bids for 364-day papers surge

TREASURY BILLS (T-bill) offered yesterday saw strong demand, with the government upsizing its award for the longest tenor even as it partially awarded the 91-day papers and even opening its tap and over the counter (OTC) facilities to accommodate bids.

RCBC creates green finance framework

RIZAL COMMERCIAL Banking Corp. (RCBC) has established a green finance framework to serve as a basis for future fund-raising activities to support domestic environmental and climate projects.

Peso drops on US data

THE PESO declined against the dollar on Monday as investors pocketed profits following the US inflation data that came out before the weekend.

T-bills likely to fetch lower rates

TREASURY BILLS (T-bill) on offer today are expected to fetch lower rates as market participants continue to price in decelerating inflation, as well as the peso’s recent rally.

LANDBANK books higher profit

LAND BANK of the Philippines (LANDBANK) saw its bottom line rise in 2018, supported by the robust growth in its lending business.

Peso to rise further on dovish Fed

THE PESO may strengthen further this week as the dollar will likely remain weak due to recent dovish signals from the US Federal Reserve.

Metrobank expects ‘consistent’ growth

METROPOLITAN Bank & Trust Co. (Metrobank) expects its growth to be “consistent” this year compared with 2018 as it draws strength from the economy’s expansion.

Merger of Philippine Business Bank, ISBI likely to be completed by...

THE MERGER of Philippine Business Bank (PBB) and Insular Savers Bank, Inc. (A Rural Bank) (ISBI) is expected to be completed within six months following the central bank’s approval of the transaction.

Peso rises to new peak

THE PESO strengthened further against the dollar on Thursday to a near eight-month high following the release of the narrower trade deficit data for November.

Peso rebounds to fresh high

THE PESO rebounded against the dollar on Wednesday to a fresh one-month high amid better risk appetite from investors on the back of positive developments in the US-China trade talks.

Gov’t fully awards bonds as demand soars

THE GOVERNMENT fully awarded the 10-year Treasury bonds (T-bond) it placed on the auction block on Tuesday amid overwhelming demand as investors sought to park their funds in longer-dated instruments.

RCBC to raise funds from MTN program drawdown

RIZAL COMMERCIAL Banking Corp. (RCBC) is set to raise fresh capital through a drawdown from its $2-billion medium-term note (MTN) program

Peso slips ahead of data

THE PESO slipped against the dollar on Tuesday as market participants await local trade data to be released today and amid risk-off sentiment in the stock market.

Gov’t partially awards T-bills

THE GOVERNMENT partially awarded the Treasury bills (T-bill) it auctioned off yesterday, rejecting some bids for the shortest tenor, as investors expect domestic inflation to decelerate further this year.

PSBank starts P8-billion rights offer

PHILIPPINE Savings Bank (PSBank) started its P8-billion stock rights offering (SRO) yesterday, with proceeds to be used to support the lender’s growth.

PBB to acquire Insular Savers Bank

PHILIPPINE Business Bank (PBB) is set to acquire Insular Savers Bank, Inc. (A Rural Bank) (ISBI) for some P575 million to boost its retail finance business.

Treasury bills, bonds likely to fetch lower rates on inflation

GOVERNMENT SECURITIES on offer this week are expected to fetch lower rates as investor demand returns following the holiday season.

Peso may strengthen vs dollar

THE PESO is expected to strengthen this week as the dollar declined against the other currencies due to weaker-than-expected economic data as well as declining government bond yields.

PSBank sees better loan growth in 2019

PHILIPPINE Savings Bank (PSBank) sees better loan growth for this year as decelerating inflation coupled with other economic conditions translate to softer loan rates.

BSP’s Espenilla goes on medical leave again

BANGKO Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. will be on leave for more than two weeks to seek medical treatment overseas.

Retail bonds seen as fallback if treasury auctions falter — ANZ

THE Bureau of the Treasury (BTr) will likely tap the retail bond market should there be any shortfall in demand in the coming government security auctions, ANZ Research said.

Peso rebounds as Dec. inflation recedes

THE peso rebounded against the dollar on Friday following the release of weaker-than-expected December inflation data.

RCBC’s Rizal MicroBank sees loans growing by 27-30% this year as...

THE THRIFT banking subsidiary of Rizal Commercial Banking Corp. (RCBC) expects to sustain its lending growth this year as it plans to improve the efficiency of its channels.

Peso drops on slowdown fears

THE PESO declined against the dollar yesterday amid risk aversion as investors priced in a possible global economic slowdown.

Digital payments use to increase this year

THE USAGE of emerging digital payments solutions is expected to pick up further in 2019, displacing legacy payment options such as cash and credit cards, an analytics software firm predicted.

Appetite for long-term bonds seen picking up

THE BUREAU of the Treasury (BTr) expects market appetite for long-term bonds to pick up this year driven by expectations that inflation will decelerate further.

China Bank looking to build branches in ‘rapidly urbanizing’ provinces this...

CHINA BANKING Corp. (China Bank) is eyeing to penetrate developing parts of the country with as it continues to expand its branch network this year.

Peso climbs on US-China news

THE PESO strengthened against the dollar on Wednesday driven by political and economic developments abroad.

Robinsons Bank looking to tap peso fixed-rate bonds to raise fresh...

ROBINSONS BANK Corp. said it is considering offering fixed-rate peso bonds following the central bank’s relaxed regulations on lenders’ fund raising.

Peso may weaken further versus dollar this year as imports surge

THE PESO is seen to weaken further against the dollar this year as the surge of capital goods to support the infrastructure push of the government is expected to widen the trade deficit.

Cashalo on track to reaching 1M customers by end-June as it...

MOBILE LENDING platform Cashalo is on track to hitting a million customers by the first half of 2019 as it plans to tie up with more retail stores.

Peso surges against dollar ahead of year’s close

THE PESO climbed against the dollar on Thursday as banks continued to build their peso holdings ahead of another long holiday break.

China Bank to open 23 new branches

CHINA BANKING Corp. (China Bank) is looking at opening 23 new branches in 2019 using licenses obtained from a bank it earlier acquired.

Security Bank sees growth in lending as rates stabilize

SECURITY BANK Corp. expects its lending business to continue growing as the central bank is seen to take a pause in its interest rate hike cycle amid normalizing inflation.

Robinsons Bank expects 32% rise in assets

ROBINSONS BANK Corp. is expecting its assets to grow by almost a third in 2019, propelled by its lending activities.

Peso to climb on pent-up flows

THE PESO is seen to strengthen this week amid temporary tightness in liquidity as well as pent-up inflows following the long weekend.

GSIS extends condonation program for housing loans

THE Government Service Insurance System (GSIS) said it extended for a year its housing loan condonation program to help members stave off foreclosure on their properties.