Tag: Karl Angelo N. Vidal

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

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.

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 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.

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).

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.

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.

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.

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.

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.

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).

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

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.

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

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.

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 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.

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.

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.

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

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.

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.

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.

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.

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

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.

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.

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

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

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

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.

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

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).

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

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.

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

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.

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

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.

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.

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.

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.