Banking & Insurance
Exodus of foreign funds accelerate in January
Opportunistic foreign investments that flowed out on gross basis in December last year accelerated by 84 percent the following January when this aggregated USD1.311 billion, the Bangko Sentral ng Pilipinas reported on Thursday.
Lower fee-based income, higher provisions weigh down Security Bank earnings in 2023
Security Bank Corp., the 10th largest lender in the Philippines, said Thursday its income declined to P9.1 billion last year from P10.6 billion in 2022, with gains from interest earnings offset by a sharp increase in provisions for credit and impairment losses and decline in fee-based and other income.
Metrobank raises landmark USD1 billion from international debt capital markets
Metropolitan Bank & Trust Co. (Metrobank) successfully concluded its offering of a dual tranche, 5 year and 10 year U.S. dollar denominated notes amidst overwhelming demand.
Treasury awards full P30B offer at auction of 20-year bond; coupon set at 6.25%
The Bureau of the Treasury awarded in full P30 billion worth of 20-year treasury bonds at the auction Tuesday, with the coupon rate set at 6.25 percent.
China Bank posts record P22 billion net profit in 2023, up 15%
China Banking Corp., one of the lenders owned by the Sy Group, said Tuesday net profit in 2023 rose 15 percent to a record P22 billion on double-digit growth in net interest income and lower provisions for possible loan losses.
