Banking & Finance

By Jerry Maglunog The Monetary Board (MB) has further opened new opportunities for banks as it lifted restrictions on them in opening up new branches or expanding to a higher banking level.

Listed Security Bank Corp. posted a record-high profit of P7.7 billion last year, which was 7 percent higher than a year ago and translating to 15.2 percent return on equity (ROE) of shareholders.

Payments by the national government of its maturing foreign debt along with the Bangko Sentral ng Pilipinas’ (BSP) foreign-exchange (forex) operations resulted in the drop of foreign reserves in January. 

Real estate is becoming the favored destination of any company that are headed for diversification. Leading conglomerate San Miguel Corp., which has been diversifying from the food and beverage business since the early 2000s, said the margins in real-estate venture are one of the highest among all businesses. “Name any corporation that is expanding, definitely the additional equity will go …

Washington—The International Monetary Fund (IMF) has announced the implementation of its long-due quota reforms, which was approved by the US Congress last year, that will give more voting rights to emerging economies like India and China in the functioning of the organization.

By Jerry Maglunog Banco de Oro Unibank (BDO) President and Chief Executive Officer Nestor Tan is expected to assume the presidency of the Bankers Association of the Philippines (BAP) by March 21 during a meeting of the biggest group in the local banking industry.

By Jerry Maglunog Banks have zeroed in on yuan buying to boost their foreign- exchange earnings in time for the scheduled inclusion of the currency in the basket of reserves of members of the International Monetary Fund called special drawing rights (SDR).

Security Bank Corp. (SBC) said it expects to raise P37 billion in new capital from a partnership deal with the Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU) in which the Japanese bank will take a 20 percent stake in the local bank.

By Jerry Maglunog The country’s development can’t be sustained unless all the flagship Public-Private Partnership (PPP) projects of the government are bidded out and built, an official of investment banking house unit of the Metrobank group First Metro Investments Corp. (FMIC) said.

The Beta Epsilon Sigma (BES) Fraternity and the Hiyas ng Silangan (HNS) Sorority, honor societies of the University of the East (UE), celebrate their 50th year since their creation in January 1966. These two elite organizations were founded by Joe-Santos Bisquera and Jeanette Lim-Evangelista, respectively.