Business

Local banks are likely to benefit in 2016 from the domestic economy’s good growth prospects, and the banks’ healthy capitalization and asset quality, a report of credit watchdog Standard and Poors Ratings Services (S&P) said. These factors underpin its stable outlook on the Philippines’s banking sector, S&P said in a report titled “The The Philippines’s Supportive Economy Underpins a Stable …

By Riza Lozada The Metropolitan Bank and Trust Co. (Metrobank), the country’s biggest lender, reported a 20-percent increase in its core earnings, ending 2015 with a consolidated net income of P18.6 billion. The bank’s total resources stood at P1.8 trillion.

Flag carrier Philippine Airlines acquired six A350-900 aircraft, with option for another six of the aircraft in a major refleeting drive as regional airlines prepare for an expanded market with the start of the Association of Southeast Asian Nations (Asean) Economic Community (AEC).

The board of Boulevard Holdings Inc. (BHI) approved the increase of its unit Friday’s Holdings Inc.’s (FHI) authorized capital stock by P266 million.

Ayala Land Inc. (ALI) reported a net income of P17.6 billion for last year, up by 19 percent on consolidated revenues of P107.2 billion which improved by 13 percent mainly attributable to growth drivers comprised of established and emerging estates.

Conglomerate LT Group Inc. through its subsidiary Tanduay Holdings Inc. bought 131,863,677 shares or approximately 4.5 percent of the total outstanding and issued shares of Victorias Milling Corp.(VMC) worth P660 million.

By Jerry Maglunog Banks are busy expanding their consumer-loan program, targeting the salaried sector with mostly thrift banks going head-to-head in this regard.

The Bank of the Philippine Islands (BPI) generated a net income of P18.23 billion in 2015 from P18.04 billion the year before.

Security Bank Corp. (SBC) has received multiple honors from Corporate Governance Asia for its high ethical business standards.

The Board of Investments (BOI) gathered last week representatives of various government agencies to generate insights and recommendations on the proposal to integrate inclusive business (IB) in government policies.