Philippines
Philippine GE Money now a Banco De Oro subsidiary
Banco De Oro has completed the purchase of 98.81 percent of the issued and outstanding common stock of GE Money Bank. At the same time, the Bank finalized the acquisition of the entire preferred capital stock of GE Money Bank in the Philippines.
Philippine GE Money now a Banco De Oro subsidiary
Banco De Oro has completed the purchase of 98.81 percent of the issued and outstanding common stock of GE Money Bank. At the same time, the Bank finalized the acquisition of the entire preferred capital stock of GE Money Bank in the Philippines.
Veterans Bank furthers expansion with Dagupan branch
The Philippine Veterans Bank recently inaugurated its newly relocated branch in Dagupan City, now located at Burgos St., Dagupan City.
Capital markets, interests push UnionBank income up 83%
UnionBank credits its treasury business and interest earnings for the 83 percent surge in its first half income. The bank registered a profit of US$45.5 million from US$24.82 million in the same period last year.
Metrobank trims costs 6.7% to post 11% profit increase
Metrobank President Arthur Ty says his bank will continue to cut costs to boost the bottom line, and it's working.
RCBC expansion hinged on acquiring mid-sized banks
Rizal Commercial Banking Corporation hopes to have 400 branches the soonest possible time by acquiring medium-sized banks.
UnionBank's 5-month net income up by 44%
The net income of the UnionBank of the Philippines rose to US$28.97 million during the January-May period, or a 44 percent growth from US$20 million a year ago.
Metrobank is most financially reputable: Asia 200 survey
Metrobank ranked first in “Financial Reputation” in the Philippines by readers of The Wall Street Journal Asia, according to Asia 200. The report was based on the survey of over 2,000 executives in Asia and the Pacific.
Metrobank’s local ATMs now over a thousand
Metrobank added 25 new automated teller machines in key areas to increase its network to over a thousand ATMs nationwide.
Metrobank gets award for remittance service
Metrobank was presented with the STP or Straight-Through Processing Award 2008 by Commerzbank AG.
Philippines GIR for end-May at US$39 billion
The Philippines' gross international reserves as of end-May stood at US$39.319 billion, higher by US$3 million from the previous month’s level.
GE Money sold to BDO
Banco De Oro Unibank, Inc. and GE Capital have agreed to transfer GE Money Bank in the Philippines to BDO.
BDO Leasing still Philippines’ industry leader
BDO Leasing’s total revenues in 2008 climbed 10.18 percent to US$28.9 million to maintain its leadership in the Philippine financing industry.
Philippine banks in better shape than others in region: Moody's
The credit stress due to economic recession in the Philippine banking system is low relative to other Asian countries, according to Moody's.
Metrobank named Asia’s most trustworthy
Metrobank topped Bank Category of the Reader’s Digest Trusted Brands award based on an Asia-wide survey by Nielsen Research.
After failed insurance bid, BDO still wants cash
Fresh from raising US$61 million through a note issue, the Philippines’ largest bank says it wants to raise a further US$165 million through a rights issue for "future acquisitions," despite failing to bag Philamlife earlier this year.
Metrobank implements importers’ automated system
Metrobank implemented its electronic-to-mobile payment system for processing of duties and taxes of its client importers. It involves the use of both cash and non-cash payments for either advanced or final settlement of duties and taxes. Non-cash payments include tax credit certificates, tax exemption certificates and advanced payments covered by letters of credit.
Metrobank implements importers’ automated system
Metrobank implemented its electronic-to-mobile payment system for processing of duties and taxes of its client importers. It involves the use of both cash and non-cash payments for either advanced or final settlement of duties and taxes. Non-cash payments include tax credit certificates, tax exemption certificates and advanced payments covered by letters of credit.
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