Banking & Insurance
BPI Issues P20.3B fixed-rate bond due 2024, 4 times larger than initially planned
Bank of the Philippine Islands, the country’s largest lender, said Monday it issued a total P20.3 billion of fixed-rate bonds due 2024, four times larger than initially planned.
UnionBank 2022 net profits flat at P12.67B
Union Bank of the Philippines on Monday reported that net profit barely changed in 2022, with the surge in net interest and gains from a significant acquisition last year muffled by the substantial trading gains in early 2021.
Higher rate cap on credit card transactions to boost bank profits
Global credit watcher Fitch Ratings said the recent lifting of the interest rate ceiling on credit cards is seen boosting the banks’ net interest margins, which is already projected to rise due to the aggressive monetary policy tightening by the Bangko Sentral ng Pilipinas (BSP) in recent months.
Diokno briefs Asia House on Phl agenda, highlights green finance
Finance Secretary Benjamin Diokno briefed ministers, key government organizations, and senior business leaders of the country’s economic outlook and agenda at the Asia House Annual Outlook.
BIR intensifies campaign vs illicit cigarette traders
Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. today lead the agency’s first-ever simultaneous nationwide trade enforcement exercise against perpetrators of illicit cigarette...
