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Lawrence Agcaoili
Lawrence Agcaoili
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Robinsons Bank profit falls to P40 M
by Lawrence Agcaoili - May 19, 2019 - 12:00am
Earnings of Gokongwei-led Robinsons Bank Corp. fell 67 percent to P40.1 million in the first quarter due to higher operating and interest expenses.
As economy slows, another rate cut looms — DBS
by Lawrence Agcaoili - May 19, 2019 - 12:00am
The Bangko Sentral ng Pilipinas (BSP) appears inclined to trim interest rates by 50 basis points this year as it unwinds its monetary tightening.
Singapore’s Osmanthus completes purchase of 15% stake in BDO unit
by Lawrence Agcaoili - May 18, 2019 - 12:00am
Singapore-based Osmanthus Investment Holdings Pte. Ltd. has completed the acquisition of a 15 percent interest in rural banking arm of BDO Unibank Inc.
Further cuts in RRR expected
by Lawrence Agcaoili - May 18, 2019 - 12:00am
The decision of the Bangko Sentral ng Pilipinas (BSP) to cut banks’ reserve requirement ratio (RRR) may provide the much needed boost to the economy which showed signs of slowing down in the first quarter,...
RCBC ventures into cryptocurrencies
by Lawrence Agcaoili - May 17, 2019 - 12:00am
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) has tied up with IBM to issue fiat currency backed stablecoins to provide a better and faster remittance platform for overseas Filipino workers.
BSP cuts bank reserve ratio to 16%
by Lawrence Agcaoili - May 17, 2019 - 12:00am
The Bangko Sentral ng Pilipinas (BSP) has brought down the level of deposits banks are required to keep with the central bank by 200 basis points (two percentage points) over a three-month period, releasing about...
Term deposit rates retreat
by Lawrence Agcaoili - May 16, 2019 - 12:00am
Term deposit rates eased across the board after the Bangko Sentral ng Pilipinas (BSP) slashed interest rates by 25 basis points last week, marking the reversal of its tightening cycle that saw benchmark rates rise...
EastWest Bank posts 36% jump in Q1 profit
by Lawrence Agcaoili - May 16, 2019 - 12:00am
Earnings of Gotianun-led East West Banking Corp. jumped by 36 percent to P1.29 billion in the first quarter from P945.4 million in the same period last year due to a surge in trading income.
PSBank tracks 2019 targets as Q1 profit rises 10%
by Lawrence Agcaoili - May 16, 2019 - 12:00am
Philippine Savings Bank (PSBank) recorded 10.3 percent increase in earnings to P680.7 million in the first quarter from P617 million in the same period last year.
Bank reserves cut next in line, economists say
by Lawrence Agcaoili - May 16, 2019 - 12:00am
Economists expect the Bangko Sentral ng Pilipinas (BSP) to follow suit with a reduction in banks’ reserve requirement ratio (RRR) this week to free up more funds to boost the country’s slowing econo...
Remittances from Filipinos abroad hit 3-month high in March 2019
by Lawrence Agcaoili - May 16, 2019 - 12:00am
Remittances picked up in March, hitting the highest level in three months due to steady inflows from Filipinos living and working abroad, the Bangko Sentral ng Pilipinas reported yesterday.
BPI trust arm to manage P3 B worth of SSS funds
by Lawrence Agcaoili - May 15, 2019 - 12:00am
A unit of Ayala-led Bank of the Philippine Islands (BPI) continues to expand its asset under management after bagging a deal with state-run Social Security System (SSS) to manage P3 billion worth of funds for the...
BSP resumes sale of 28-day term deposits
by Lawrence Agcaoili - May 14, 2019 - 12:00am
The Bangko Sentral ng Pilipinas (BSP) is set to resume the offering of the 28-day tenor at the term deposit auction facility (TDF) tomorrow as liquidity continues to return to the market.
Banks’ real estate loans rise to P2.14 T
by Lawrence Agcaoili - May 14, 2019 - 12:00am
The real estate exposure of big and mid-sized banks remained manageable, rising by nearly seven percent to P2.14 trillion as of end-September last year, according to the Bangko Sentral ng Pilipinas.
Impact of banking reforms on lending rate marginal — BSP
by Lawrence Agcaoili - May 14, 2019 - 12:00am
The major reforms undertaken by the Bangko Sentral ng Pilipinas to sustain the resiliency of the country’s banking sector had a marginal impact on lending rates, according to a study conducted by the central...
PNB unit extending P4 B loan for Laguna property developer
by Lawrence Agcaoili - May 13, 2019 - 12:00am
The investment banking arm of Philippine National Bank (PNB) is finalizing a syndicated loan facility for low- to medium-cost housing developer Laguna-based P.A. Alvarez Properties Development Corp. to finance its...
Profit of Philippines banks up 28% in Jan-March
by Lawrence Agcaoili - May 13, 2019 - 12:00am
Earnings of Philippine banks surged by more than 28 percent to P57.06 billion in the first quarter from P44.42 billion in the same quarter last year on the back of higher trading gains and interest income, according...
Economists still project above 6% growth for Philippines this year
by Lawrence Agcaoili - May 13, 2019 - 12:00am
Economists still expect the Philippines to post a gross domestic product (GDP) growth of above six percent this year despite a slower growth of only 5.6 percent in the first quarter.
RCBC sees better year on robust core business
by Lawrence Agcaoili - May 12, 2019 - 12:00am
Rizal Commercial Banking Corp. (RCBC) expects 2019 to be a better year after booking a 15 percent increase in earnings in the first quarter due to the robust performance of its core businesses.
Bank rediscount loans hit record P73.7 billion in 4 months
by Lawrence Agcaoili - May 12, 2019 - 12:00am
Loans taken out by banks from the rediscount window of the Bangko Sentral ng Pilipinas (BSP) reached an all-time high of P73.7 billion in the first four months.
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