Banking & Insurance
Union Bank 2023 net profit fall to P9.2 billion on Citi integration cost
Union Bank of the Philippines said Friday its net income in 2023 dropped to P9.2 billion from P12.7 billion in 2022, hurt by the cost of integrating the recently acquired consumer business of Citi.
BDO raises record P63.3B via ASEAN Sustainability Bond issue
BDO Unibank Inc., the country's largest lender by assets, said Monday it raised P63.3 billion from the sale of its second ASEAN Sustainability Bond, its largest single bond issue.
Chinabank elevates customer experience to the cloud
As part of its ongoing digital transformation, Chinabank modernized its customer contact center with Genesys Cloud, a suite of cloud services for enterprise-grade communications, collaboration, and contact center management. The system is seen boosting Chinabank’s customer support capabilities and create opportunities to better serve and deepen its relationship with customers.
Christmas spending helps push RCBC Credit Card receivables 48% higher to P74 billion
The credit card unit of the Rizal Commercial Banking Corp. (RCBC) on Friday reported a 48 percent surge in credit card receivables in December last year totaling P74.7 billion.
Sy Group keeps 60% of BDO, foreign investors hold 25.18%
BDO Unibank Inc. reported Friday that foreign ownership in the country’s largest lender by assets stood at 25.18 percent at the end of 2023, leaving the balance in the hands of Filipino investors, primarily the Sy Group.
