Higher interest income, lower expenses drive PNB profit in 1Q
Philippine National Bank, the country’s seventh largest bank by assets, reported Thursday a 10 percent increase in its first-quarter net income to P5.31 billion on account of higher interest income and fee-based revenue, and lower expenses and provisions for impairment, credit and other losses.
Exiting foreign fund investors last year return in 1Q with $377 million
Speculative foreign investments that exited on net basis in the first three months last year returned in the first quarter this year and helped fuel a 15 percent turnaround in net foreign inflows totaling USD377.42 million.
BAP willing to sell PDS stake provided conditions are met
The Bankers Association of the Philippines (BAP) is willing to sell its stake in the Philippine Dealing System Corp. that owns the fixed-income trading market provided the right conditions are present.
COBI thwarts efforts to settle pricing dispute with COWD over water
The Cagayan de Oro Bulk Water Inc. (COBI) on Wednesday reiterated its commitment to supply safe and reliable drinking water to the people of Cagayan de Oro City.
Phinma close to acquiring Petra Cement
Phinma Corp. is close to completing the purchase of Petra Cement Inc. in Mindanao, according to a senior executive.
