Hot shot banker reconnects with baby sister
PNB’s president and chief executive officer Jose Arnulfo “Wick” Veloso greeted his baby sister on her birthday. On his Instagram account, the bankero shared a lengthy and sweet message for his sister and “golden girl” Dobi. He expressed gratitude and shared sweet words dedicated to her, along with all his favorite qualities of her sister. […]
Gains from UITFs boost bottomline of BDO holding arm
Fair value gain from investments in unit trust investment funds (UITFs) boosted the net income of the holding company of BDO Unibank Inc. led by bankero Nestor Tan last year.
Global dirty money watchdog keeps Philippines in list of countries under increased monitoring
Paris-based Financial Action Task Force (FATF) has retained the Philippines in the list of countries under heightened monitoring as the economic managers continued to fail to address strategic deficiencies to counter the proliferation of money laundering and terrorist financing.
‘We are sufficiently liquid and do not need liquidity boosts from the Bangko Sentral,” bank executives say
That even the less financially endowed lenders would not touch the rediscounting window of the Bangko Sentral ng Pilipinas only shows the financial system has sufficient money in circulation to feed a growing economy without driving inflation higher.
Already ordered to undergo rehabilitation, Eternal Plans commits to pay plan holder claims as they fall due
Although Eternal Plans Inc. committed to honor all its obligations to plan holders despite the ongoing rehabilitation, the dispensing of benefits is done on a case-to-case basis and makes for a messy and chaotic process.
Breaching the $95-a-barrel of oil threshold this year means more sacrifices for Filipinos
Already prohibitive oil product prices at the pumps are seen climbing even higher and local output growth measured as the gross domestic product (GDP) should moderate in the Philippines should the price of imported crude average beyond $95 per barrel this year.
BDO to convert leasing, finance arm into a holding company as sale fails
BDO Unibank Inc. headed by bankero Nestor Tan is keeping its leasing and finance arm after its supposed sale to new investors that included 8990 Holdings director Luis Yu Jr. and Pacifica Holdings Inc. independent director Vittorio Lim did not materialize.
Banks still ignore the central bank’s liquidity-enhancing window
The various banks, especially the less financially endowed, have remained indifferent to the availability of funds under the rediscounting window of the Bangko Sentral ng Pilipinas (BSP).