Philippines

A strong rally yesterday led by banks pushed the Philippine Stock Exchange Index to a record 4822.08 points, up by  2.3%.

Adding 50 more branches will bring the branch network of Metropolitan Bank and Trust Company (Metrobank) to over 800, the largest in the Philippines.

Another cash-flush Philippine bank reports sterling bottom line results for 2011.

Land Bank of the Philippines said it raised P10.5 billion from the sale of Tier-2 notes.

East West Banking Corporation is getting ambitious to the tune of P6.63 billion.

Rizal Commercial Banking Corporation wants to buy more Philippine banks with nearly P5 billion.

The Philippines’ financial system isn’t as immune to the worsening Eurozone debt crisis as it thinks it is.

CIMB Thai Bank plc would acquire TMB Bank, formally known as The Thai Military Bank.

The Bankers' Association of the Philippines (BAP) believes demand for loans will grow by 15% to 20% this year because of the country’s sound macroeconomic fundamentals.

The total resources of the Philippine banking system rose by almost 10 percent at the end of September. This is indicative of the public’s continued trust in the banking sector, according to the Bangko Sentral ng Pilipinas.

A recently passed bill will allow non-Filipinos to buy and own up to 40% of a rural bank’s authorized capital stock.

The seven-year loan is the telecom's second borrowing this year.

The lender's performance brought the bank’s annualized return on equity to 12.3%.

The lender's loans and investments interest revenue soared to $19.15mn, offsetting a decline of $19.15mn in trading income.

The move will strengthen the lender’s capital base.

The Filipino lender targets to provide Filipinos in the US the cheapest remittance service.