MANILA -Union Bank of the Philippines registered a weaker bottom line in the January-September period despite stronger revenues as expenses ballooned following the acquisition of Citi’s consumer business and rollout of its digital-only banking arm. On Tuesday, the Aboitiz-led bank announced its net income amounted to P8.1 billion in the first three quarters, lower by 19 percent than the P10.09 billion it booked in the same period last year. Net revenues climbed by 48 percent to P52.8 billion during the period as net interest income grew by 34 ...
UnionDigital Bank, the digital banking arm of Union Bank of the Philippines, expects to end this year with the largest loan book among its peers in the highly competitive new banking category. UnionBank president Edwin Bautista said UnionDigital would likely end 2022 with a loan portfolio of P4.8 billion and a customer base of 1.7 million. The digital banking startup was launched only four months ago. The only platform among the six Bangko Sentral ng Pilipinas (BSP)-licensed digital banks that is owned by an existing bank, UnionDigital deviates ...
The Bangko Sentral ng Pilipinas (BSP) wants small cooperatives and small businesses to have better access to loans that...
The thrift banking arm of Sy family-led China Banking Corp. is seeing another banner year after its earnings in the first semester grew by 18 percent to P1 billion on the back of its expanding loan portfolio. China Bank Savings (CBS) on Friday said they were already nearing their 2023 full-year record earnings of P1.8 billion. Gross loans in the first half of the year expanded by 22 percent to P125.8 billion, buoyed by growth in consumer and automated payroll deduction (APD) loans. CBS offers APD loans to teaching and nonteaching personnel of e ...
“I would like to personally offer this award to our clients... top banks in the Philippines and Asia Pacific. The bank is one of the largest and most profitable business segments in the...
The Duterte administration has stopped the planned merger of state-run lenders Development Bank of the Philippines and Land Bank of the Philippines that was given the go-ahead by former President Aquino early this year. In a statement Tuesday, Department of Finance (DOF) spokesperson Paola Alvarez said that an en banc resolution of the Governance Commission for Government Owned and Controlled Corporations (GCG) “resolved to cancel the implementation” of Executive Order (EO) No. 198 issued by...
Tonik Financial Pte. Ltd. is acquiring a financial technology (fintech) platform providing financial services to company employees in a bid to expand its portfolio. In a statement on Friday, the parent company of Tonik Digital Bank Inc. said it had entered into an agreement with Tendo Payment Solutions Pte. Ltd. to buy its local business operating under the name of “TendoPay.” · The deal is still subject to the approval of relevant regulators. “Tonik’s acquisition of TendoPay is a testament of our passion for accelerating financial and ...
Quick loan with an online application ; Conventional financing ; Owner-occupied or investment property ; Government-backed loans ; Essential business asset financing ; PPP loan forgiveness
MANILA, Philippines —The Department of Transportation and Philippine National Railway recently opened their South Commuter Rail’s site office and a 15-hectare integrated pre-cast yard in Santa Rosa, Laguna, signaling the start of permanent works at the 12.8-kilometer Laguna railway project. The Laguna railway project, covered by PNR South Commuter Rail contract package (CP)-05, forms part of the 147-km North-South Commuter Railway (NSCR) system connecting Clark in Pampanga and Calamba, Laguna. ...
Lender, Unsecured loan type, Top features ; Bank of America, Business line of credit, Interest as low as 10.00% No fees for cash advances Funding may take a week or more ; Wells Fargo, Business line of credit, No draw fees Annual fee waived the first year Rewards program with Mastercard Access card Funding may take a week or more ; PNC Bank, Small business loan, Payments automatically deducted from PNC business checking account 2- to 5-year terms Funding time typically takes 1 to 5 days