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PHILIPPINE National Bank (PNB) saw its net profit climb in the first half of the year on the back of growth in its total operating income.
THE asset management and trust arm of Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife) said it is bullish on the domestic capital markets on the back of sustained economic growth despite headwinds, which it called “transitory.”
THE peso declined against the dollar on Friday with market participants awaiting jobs data from the US as well as a slew of Philippine economic data next week.
SECURITY BANK Corp. is easing its branch expansion as it rationalizes its existing network amid its digitalization push.
ROBINSONS BANK Corp. saw its net profit climb in the first half of the year, driven by expansion of its loan book.
UNION BANK of the Philippines, Inc. said net profit fell in the second quarter following a decline in its “other” income.
THE government fully awarded the Treasury bills (T-bill) it offered Monday, with rates climbing across the board, with investors expecting another monetary policy tightening from the Philippine and US central banks.
THE PESO strengthened further against the dollar on Monday on the back of equity flows and hawkish statements from the Bangko Sentral ng Pilipinas (BSP).
LAND BANK of the Philippines expects to buy more shares in the fixed-income bourse once the two have signed a share purchase agreement (SPA) in the coming weeks.
GOVERNMENT SECURITIES on offer this week will likely fetch higher rates, with the Bureau of the Treasury (BTr) expected to reject all bids for the 20-year papers, as investors continue to wait for the local central bank to raise interest rates anew.
THE ASSET MANAGEMENT and trust arm of Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife) launched an equity fund that seeks to invest in Asian companies.
IN MAY, S&P Global Ratings upgraded its risk assessment on the Philippine banking industry, uplifting the country’s Banking Industry Country Risk Assessment (BICRA) score to “6” from the previous “7.” S&P uses its BICRA framework to evaluate and compare global banking systems. Scoring is done on a one-to-10 scale, with one being the best score, signifying lowest risks.
THE Government Service Insurance System (GSIS) said net profit rose 69% in 2017 due to the performance of its financial investments.
PHILIPPINE banks kept their lending criteria little changed in the second quarter, although some lenders said they grew stricter in granting business loans due to more stringent regulations, according to the results of a central bank survey.