Top echelon movement notwithstanding, PNB board to remain intact
The Board of Directors of Lucio Tan’s Philippine National Bank (PNB) led by bankero Wick Veloso is likely to remain intact this year.
EastWest Bank SVP quits anew
East West Banking Corp. headed by bankero Tony Moncupa Jr. lost its senior vice president and special projects officer.
BPI gets high marks from ratings and analytics firms in sustainability
Ayala-led Bank of the Philippines Islands (BPI) led by bankero TG Limcaoco received the highest marks among Philippine banks in terms of sustainability and ethical impact from three of the world’s most respected ratings and analytics firms.
Inflation should prove no higher than 3.6 percent in February
Inflation, or the rate of change in prices, averaging only 3 percent in January, is forecast by regulators to rise no higher than 3.6 percent during the month.
Investments rather than guarantees push state-owned financing firm higher in 2021
The performance of the non-guarantee portion of the Philippine Guarantee Corporation in 2021 helped push its net earnings higher by 182 percent that year.
Amped up money transactions prevent January uptick in inflation even as liquidity levels rise
Domestic liquidity or M3, really just money allowed by the Bangko Sentral ng Pilipinas (BSP) to circulate freely in the financial system, grew at an annual pace of 9.8 percent in January this year.
Less provisioning, sterling assets push PSBank earnings 39% to P1.5B
Ty-led Philippine Savings Bank (PSBank) led by bankero Jose Vicente Alde reported a 39 percent surge in net income to a little over P1.5 billion in 2021 from P1.1 billion in 2020.
Legacy lenders looking at fintech who’s giving them unusual competition
Netbank, a fully-regulated bank offering Banking-as-a-Service solutions or BaaS, is attracting the interest of established lenders in the local landscape due to its ability to offer the service at a much lower rate than its giant competitors.
Security Bank sees PSEi hitting 8,000 by end 2022
Security Bank Corp. of bankero Sanjiv Vohra sees the Philippine Stock Exchange index (PSEi) hitting the 8,000-mark by the end of 2022 as the country continues to recover recover from the impact of the pandemic-induced recession.
Pandemic response over 20 months require new loans worth well over P1 trillion in today’s money
Loans contracted over a 20-month period to address the country’s COVID-19-related woes aggregate $22.364 billion.