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Fitch: Banks to ride PHL’s ‘robust’ growth

THE PHILIPPINES’ “fairly robust” economic growth -- though below official target so far -- can be expected to generate profit and expansion opportunities for banks in the country, Fitch Ratings said on Thursday, adding that liquidity conditions will likely ease further due to central bank steps to loosen monetary policy in step with much of the world.

China Bank looks to raise up to P20B from LTNCDs

CHINA BANKING Corp. (China Bank) will raise up to P20 billion through the issuance of long-term negotiable certificates of deposit (LTNCD) to support asset generation and expansion.

Metrobank raises P11.25B in fresh funds from bonds

METROPOLITAN BANK & Trust Co. (Metrobank) raised P11.25 billion in fresh funds via fixed-rate bonds, marking the fourth tranche of its P100-billion bond program.

DoLE to manage database on foreign workers; over P4B expected from...

THE DATABASE of foreign workers in the Philippines will be managed by the Department of Labor and Employment (DoLE) as the government tax machine tightened its grip on foreign workers, with the online gaming industry alone expected to generate about P4.4 billion in withholding taxes.

Government debt rises 1.7% in May on peso weakness, bond issues

OUTSTANDING government debt rose month-on-month in May driven by fluctuations in foreign exchange rates and an increase in foreign loans after two issues of government bonds, the Bureau of the Treasury (BTr) said.

Peso weakens further

THE PESO weakened further against the dollar on Wednesday as market participants await economic data to be released later this week.

PSBank starts offer of peso bonds

PHILIPPINE SAVINGS BANK (PSBank) is looking to raise P3 billion via two-year bonds to diversify its funding sources and expand its consumer business.

RCBC Bankard looking to issue five million cards over 10 years

THE CREDIT CARD arm of Rizal Commercial Banking Corp. (RCBC) eyes to issue five million cards over the next 10 years, as it sees growth in the non-card debt segment.

GSIS head resigns for ‘personal reasons’

GOVERNMENT Service Insurance System (GSIS) President and General Manager (PGM) Jesus Clint O. Aranas said he resigned Tuesday, for “personal reasons” according to his communications staff.

Peso declines against dollar ahead of key economic data

THE PESO weakened slightly against the dollar on Tuesday amid market uncertainty ahead of key economic data releases here and in the United States.

Peso appreciation to slow in the near term ahead of BSP...

THE PESO is seen to strengthen at a slower pace over the near term as market optimism on cooling US-China trade tensions fades and ahead of further monetary easing by the local central bank, Fitch Solutions said.

BSP estimates 6% GDP growth in 2nd quarter

THE Bangko Sentral ng Pilipinas (BSP) estimates that the economy grew about 6% in the second quarter on the back of government spending and low inflation.

Peso hits new one-year high on US-China truce

THE PESO strengthened further against the dollar to hit a fresh one-year high amid market optimism driven by positive developments in US-China trade relations.

Three-year bonds to fetch lower rates on strong market demand

THE RATE of the three-year Treasury bonds (T-bond) on offer tomorrow will likely decline amid persistent strong demand for short-term securities.

Peso seen to strengthen on US-China trade talks

THE PESO is seen to strengthen further against the dollar this week following positive developments in the trade negotiations between the United States and China and amid expectations of a slowdown in domestic inflation.

PHL insurance industry books higher net income in 1st quarter

THE INSURANCE INDUSTRY posted higher net income in the first quarter propelled by strong growth across all sectors, the Insurance Commission (IC) reported.

Collaboration between insurers, fintechs eyed

MANUFACTURERS Life Insurance Co. (Phils.), Inc. (Manulife Philippines) eyes to boost collaboration between insurance firms and financial technology (fintech) companies to improve customer experience and increase awareness in insurance.

HSBC boosts Philippine private banking business

THE HONGKONG and Shanghai Banking Corp. Ltd. (HSBC) has expanded its private banking presence in the Philippines by deploying more relationship managers to service the growing wealth market.

Peso rises anew

THE PESO climbed against the dollar anew to hit a fresh one-year peak, driven by market optimism on China and the United States striking a trade deal.

Gov’t to borrow less next quarter

THE GOVERNMENT plans to borrow P230 billion from the domestic market next quarter through a mix of short and long-term securities, smaller than the amount offered in April-June and in last year’s third quarter.

PBCom closes sale of car loans to EastWest

PHILIPPINE BANK of Communications (PBCom) has closed the sale of its car loan portfolio to East West Banking Corp. (EastWest Bank) to focus on its core market.

Insurers’ REIT investments to qualify as admitted assets

THE Insurance Commission (IC) has issued guidelines on insurers’ investment on real estate investment trusts (REIT), admitting such as assets.

Peso weakens on Fed remarks

THE PESO weakened against the dollar following less dovish remarks from US central bank officials.

Gov’t makes full award of T-bills as rates drop

THE GOVERNMENT fully awarded the Treasury bills (T-bill) on offer yesterday, with rates slipping across all tenors as market participants await the trade meeting between the United States and China later this week.

Hanjin creditor banks eyeing shipyard’s sale, shares in parent to recoup...

THE FIVE local banks exposed to the troubled Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) are exploring a two-pronged approach to recoup their funds, an official from Rizal Commercial Banking Corp. (RCBC) said.

Peso rises further versus dollar as US imposes new sanctions on...

THE PESO rose further to hit a fresh one-year high on Tuesday as the dollar remained weak due to tensions between the United States and Iran.

BPI establishes green finance framework

BANK OF THE Philippine Islands (BPI) has established a green finance framework to serve as a basis for future fund-raising activities for environmental projects.

PSBank launches PaSend

PHILIPPINE SAVINGS Bank (PSBank) launched a fund transfer service that allows clients to withdraw money via automated teller machines (ATM) even without a card, in a bid to service Filipinos without bank accounts.

Peso climbs to new one-year high

THE PESO strengthened further against the dollar to hit a fresh one-year high on market optimism ahead of the trade negotiations between the United States and China.

T-bill rates seen moving sideways at BTr auction

YIELDS ON Treasury bills (T-bill) on offer tomorrow will likely move sideways following the decision of the central bank to keep interest rates steady.

Peso to rise further on US-China

THE PESO will likely strengthen against the dollar this week, as market players await the trade meeting between the United States and China.

‘Hot money’ flows out for 3rd straight month in May

MORE foreign capital went out of the Philippines in May for the third straight month, amid the escalating trade tensions between the United States and China, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

Outlook for PHL banks still stable

THE local banking industry will continue to benefit from robust economic growth of the Philippines, debt watchers Moody’s Investors Service and S&P Global Ratings said.

PNB to raise $750M via fixed-rate notes

PHILIPPINE National Bank is set to raise $750 million via 5.25-year fixed-rate senior notes to support lending growth.

Peso strengthens to one-year peak

THE PESO strengthened further against the dollar on Friday to hit a one-year high after the central bank kept interest rates unchanged.

IC requires adjusters to get APAC, PILA endorsement

THE INSURANCE Commission (IC) is now requiring new insurance adjusters to secure endorsement from two associations related to the industry.

DoF to continue pushing tax, retail reforms in next Congress

THE Department of Finance (DoF) said the government’s legislative priorities in the next Congress include the remaining packages of the tax system overhaul and measures reforming the foreign investment regime and retail industry, as well as amendments to the Public Service Act.

Peso climbs to two-month high as Federal Reserve signals cuts

THE PESO strengthened further against the dollar on Thursday to hit a fresh two-month high, as risk appetite improved following the dovish statement of the US Federal Reserve.

PHL growth forecast cut after weak Q1

THE ASEAN+3 Macroeconomic Research Office (AMRO) has slashed its Philippine growth forecast for this year following the “weak” economic expansion in the first quarter, which was dragged by the delay in the passage of the 2019 national budget.

PHL bond market second-fastest growing in emerging East Asia

THE PHILIPPINES was the second-fastest growing bond market in the first quarter as government and corporate issuances continued to expand due to strong liquidity, the Asian Development Bank (ADB).

East West’s acquisition of PBCom car loan portfolio gets PCC nod

THE Philippine Competition Commission (PCC) has given East West Banking Corp. the green light to acquire the car loan portfolio of Philippine Bank of Communications (PBCom).

Robinsons Bank to raise P5 billion via bonds

ROBINSONS BANK Corp. is set to raise up to P5 billion in two-year fixed-rate bonds in July to support lending growth.

Peso climbs further ahead of Fed

THE PESO strengthened further against the dollar on Wednesday as market players waited for the results of the US central bank’s policy meeting.

RCBC, thrift arm secure BSP’s okay for merger

THE MERGER of Rizal Commercial Banking Corp. (RCBC) and its thrift banking subsidiary, which is intended to reduce operating costs and consolidate the lender’s retail base, has been approved by the central bank.

PNB sets final terms for rights offer

PHILIPPINE NATIONAL Bank (PNB) has set the final terms for its stock rights offer (SRO) where it is looking to raise up to P12 billion to fund asset growth.