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Banking & Finance

FWD chief named top Asian leader

FWD Life Insurance Philippines President and Chief Executive Officer Peter Grimes was lauded as an “Outstanding Leader in Asia” by the Asia Corporate Excellence and Sustainability (ACES) Awards. At the awarding ceremonies held on October 26, 2017 at InterContinental Hotel, Singapore, Peter received the honor alongside five other CEOs from across Asia. He was given the award for demonstrating sound …

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RCBC core profit up 19% to P1.1B

Strong growth in loans and deposits boosted Rizal Commercial Banking Corp’s (RCBC) net income by 19 percent in the third quarter to P1.1 billion from a year ago.

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AUB group profit rises to P2.2B in 9 months

Listed Asia United Bank (AUB) reported a 19.3 percent growth in unaudited consolidated net income for the year up to September to P2.2 billion.

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OFW bank sets January opening

By Riza Lozada The initial operations of the Overseas Filipino Bank (OFB), a bank devoted to overseas Filipino workers (OFW), will proceed as scheduled in January 2018, following the assurance by the Bangko Sentral ng Pilipinas (BSP) that the approvals from the necessary clearing institutions will be secured before the end of the year, the Department of Finance said in …

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Broad oversight work needed for stable banks 

With financial transactions becoming more and more interconnected and complex risks have evolved and magnified and these developments from a financial regulator’s perspective, mandate a transition from stand-alone to system-wide oversight.

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9-month net income of Metrobank up 5%

By Riza Lozada Top lender Metropolitan Bank and Trust Company (Metrobank) reported an unaudited consolidated net income of P13.2 billion in the first nine-months of 2017, up five percent from last year. 

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BDO among Forbes top 50 employers

Universal bank BDO Unibank, the country’s largest bank in terms of assets, was the only Philippine financial institution to be named in the top 50 of Forbes’ Best Employers in the world for 2017.

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MFI guarantees exempt banks from BSP loan cap

The Bangko Sentral ng Pilipinas (BSP) has provided banks with elbowroom in financing priority projects with its directive excluding loans guaranteed by Multilateral Financial Institutions (MFIs) from the loan cap to subsidiaries and affiliates.

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DBP lends P78M to solar power project

State-owned Development Bank of the Philippines (DBP) recently granted a P78-million term loan to UGEP Solar 1 Inc. (UGEP Solar) to finance the construction and installation of two photovoltaic rooftop solar power projects with a combined output of 2.1 megawatt peak (MWp).

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UCPB helps put smile in kids with cleft palate

United Coconut Planters Bank (UCPB ) lent a hand to Operation Smile Philippines Foundation Inc. in providing free surgeries for 150 children with cleft lip and cleft palate in a mission to held at the Metro Davao Medical and Research Center last November 20 to 24.

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