Rappler's latest stories on banking and financial services
Investors swarm BDO's largest stock rights offering
It is one of the biggest common equity capital raising activities in Philippine history
Metrobank extends P7B worth of loans to Globe
The loans will be used to finance Globe s capital expenditures aimed at further expanding enhancing its network
Lucio Tan-owned PNB nets P5.5B in 2014
The Philippine National Bank also embarks on a rebranding program in a bid to maintain existing clientele and attract new younger customers
BPI's 2014 net income falls due to investment, lower trading gains
The BPI president says 2014 was an investment year for the bank
Big PH banks maintain sufficient capital in Q3 2014
The latest capital adequacy ratios show that universal and commercial banks have sufficient buffer against unexpected losses that may arise during times of stress the central bank says
LIST: Bank operations during Pope visit
Metro Manila and Tacloban branches of certain banks will be open during Pope Francis’ visit
LIST: Limited banking hours due to Typhoon Ruby
4th UPDATE Here s a list of banks with limited operations in areas affected by RubyPH
Eastern Europeans could be behind ATM fraud – BPI
UPDATED The Bank of the Philippine Islands has information that the skimming activities are similar to what recently apprehended Bulgarians have employed
BSP amends rules on thrift banks’ FX forwards activities
The Monetary Board also approves amendments to rules to explicitly recognize the authority of thrift rural and cooperative banks to buy and sell foreign exchange
Maybank not keen on PH's Al-Amanah acquisition
The local subsidiary of Malaysia’s Maybank says an acquisition of Al Amanah the country s Islamic bank is not part of its expansion prospects at the moment
Big PH banks raise capital adequacy ratio in Q2 – BSP
Universal and commercial banks in the country are able to increase their qualifying capital despite stricter requirements under the Basel 3 framework
[Executive Edge] Empowering the unbanked
VMoney CEO Ralph Santos wants to give the unbanked in the Philippines access to financial services online
Philippines hikes key interest rates, first since 2011
The monetary board s decision is a pre emptive response to signs of inflation pressures and elevated inflation expectations a central bank statement says
BSP keeps rates steady, but hikes rate on special deposits
The central bank also raises its inflation forecasts for this year and 2015
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Room to keep BSP rates steady 'narrowed'
We re moving into a higher interest rate environment globally the central bank chief says citing the uptick in inflation
BDO 2013 earnings hit record P22.6B
The country s largest bank by assets says loan growth and trading gains buoyed its bottom line
BSP keeps interest rates steady despite inflation rise
Inflation has been on the uptrend over the past 5 months largely due to higher food prices
BDO nets record P18.2B profit in Jan-Sept
The 9 month net income of BDO Unibank the Philippines largest bank led by Henry Sy the country s richest is up a significant 73 from P10 5 billion a year ago
Banks, other lenders relax payment rules for quake victims
Citi and BPI offer to waive late charges while Pag Ibig and NHMFC extend amortization terms to quake victims in Bohol and Cebu
BPI H1 income grows 27% to P12-B
The Ayala owned bank says its revenue growth outpaced the rise in its operating expenses
PNB offers deposit notes
The bank says proceeds will be used to fund its expansion and grow its capital base
Why OFWs are difficult market for life insurance
While Filipino OFW s stand to benefit the most from life insurance regulatory restrictions prevent local brokers from gaining access to the market
IFC rep resigns from BDO board
Farida Khambata IFC s representative to the board of Sy led BDO Unibank resigns due to a reassignment
PDIC files raps vs Exportbank officers
The state deposit insurer files a criminal complaint against the former chairman and 5 other officers of the troubled Export and Industry Bank
Metrobank Q1 income soars 163% to P4.3-B
The banking unit of tycoon George Ty saw its net income in the first quarter of 2013 nearly tripled
Citi PH named Best Bank in Asia
The Philippine unit of global bank Citigroup or Citi was named the Best Bank in the Asia Pacific region in 2012 by Asset Magazine
Banks line up for San Miguel's $1.3-B, SM's $300-M loans
About 8 banks are joining San Miguel s 1 3 billion syndicated 5 year bullet term loan while 5 have signed a 300 million 5 year term loan for SM Prime
Asians' savings to fall short in retirement - HSBC
Asians expect their savings to last only 10 years after retirement
Battered by Sandy, AIG posts $4-B loss in Q4
The massive storm Sandy that ravaged the heavily populated Northeast resulted in a pre tax catastrophe loss of 2 billion
No deal? BPI, PNB talks pass Dec. 15 deadline
The exclusivity period for the talks between the shareholders of BPI and PNB lapsed last December 15
Ayala, Lucio Tan groups in talks to create top PH bank
The Ayala group s Bank of the Philippine Islands confirms a newspaper report that it is in talks with the Lucio Tan group for a majority stake in Philippine National Bank
UBS trader who lost $2.3-B jailed for 7 yrs
The Ghanaian born banker is found guilty of two counts of fraud by a jury at Southwark Crown Court but cleared of 4 charges of false accounting
Lending, trading gains lift BPI third-quarter income
The Ayala owned bank says earnings in the January to September period rose 37 from last year to P13 2 billion
UBS to cut nearly 10,000 jobs by 2015, posts heavy loss
The Swiss banking giant announces nearly 10 000 job cuts worldwide saying that the costs of restructuring its hard hit investment bank pushed it deep into loss in the third quarter
Vietnam political battles heat up as economy falters
The arrest of one of Vietnam s top banking tycoons reflects a wider power struggle among the Communist rulers over how to tackle the country s deepening economic troubles experts say
BDO cash card holders to pay P2 per ATM withdrawal
Sy led BDO Unibank the country s biggest bank in terms of resources confirmed it will impose a P2 fee for every withdrawal made by holders of cash cards via Automated Teller Machines ATM starting September 1
Landbank's Jan-June profits up 3.8% to P5.74-B
State run Landbank of the Philippines reported a P5 74 billion net income in the first 6 months of the year reflecting a 3 83 increase from the same period a year ago
Visa, MasterCard to pay $6-B in card fee suit
The firms are paying to settle a class action lawsuit filed by millions of merchants who alleged they fixed card use fees
DBP chief resigns, cites health issues
Does the resignation of Development Bank of the Philippines president and CEO Francisco Popoy F del Rosario have anything to do with his alleged tiff with DBP chairman Jose Nuñez?
Is HSBC leaving the Philippines?
An HSBC Philippine representative says the Financial Times report that the bank is closing its local operations is speculative
Lucio Tan-led PNB, Allied Bank eye merger by Q2
The long delayed merger of two Lucio Tan led commercial banks PNB and Allied Bank is expected take effect in the 2nd quarter of 2012
Who wants Union Bank? Not us, say BPI, RCBC
Two local universal banks denied a reported stock market rumor that they are interested in Aboitiz led Union Bank of the Philippines
Business group slams court order to reopen Banco Filipino
Makati Business Club expressed its outrage over the recent decision of the Court of Appeals to order the reopening of thrift bank Banco Filipino
Metrobank 2011 profits up 32% to P11-B
Ty led universal bank Metrobank grew its net profits by 31 99 through higher interest fee based earnings and better than expected treasury gains
Working the power of the crowd
Artiste Connect works as a funding platform for Filipino artists
Prudentialife is bankrupt, seeks rehab
The troubled pre need firm is allowed not to pay obligations to clients creditors and suppliers as it tries to finalize a rehabilitation plan
Ty group earmarks P24-B IPO proceeds for real estate, BPO, energy
Tycoon George Ty is eyeing new ventures outside its core banking insurance and car dealing businesses
Palace shrugs off CA ruling on Banco Filipino
Malacanang has kept silent over the Court of Appeals ruling directing the BSP to reopen Banco Filipino despite President Aquino s previous strong reaction on moves to block regulatory actions against the bank
Palace on P51-B case vs Marcos, Ongpin: Don't blame us
The less than 2 year Aquino government is not to blame for the unfavorable decision on the 24 year old Binondo central bank case says Palace official
