AUB hits record P6.1B 1H net profit
Asia United Bank Corp. (AUB), the Philippines’ 12th largest lender, posted a record P6.1 billion net income for the first half, up 17 percent from P5.2 billion a year ago, nearly matching its full-year 2022 profit of P6.3 billion.
BDO raises P115B ASEAN Sustainability Bond offer
BDO Unibank Inc., the country’s largest lender by assets, said Tuesday it P115 billion through its fourth Peso-denominated ASEAN Sustainability Bond issuance, exceeding expectations with a subscription level 23 times higher than its initial P5 billion offering.
I-Remit narrows Q1 loss amid revenue collapse
i-Remit Inc., a listed fund transfer and remittance company servicing migrant Filipino workers, posted a net loss of P60.1 million in the first quarter, narrower than P104.5 million loss in the year-earlier period.
SEC revokes rogue lender license over abusive collection tactics
The Securities and Exchange Commission (SEC) has intensified its enforcement against illegal lending practices, revoking the corporate registration and secondary license of Convenience Cash Lending Corp. for employing abusive debt collection methods, in a move that underscores its commitment to consumer protection.
Nike shares jump on JP Morgan upgrade
An investor note from JP Morgan sparked a rally in Nike shares on Monday after analysts urged investors to "Just Buy It!"—a play on the brand’s iconic slogan—citing growing confidence in its multiyear recovery plan.
