The government is preparing to auction off its controlling stake in United Coconut Planters Bank to allow the bank to structure its recapitalization program and chart its future growth. ; UCPB chair Menardo Jimenez confirmed that the bank had mandated Standard Chartered to look at the feasibility of privatizing government-sequestered shares in UCPB. ; Once ready for the auction, Standard Chartered will then draw up the term sheet to invite potential strategic investors. ; “We have mandated to dispose (the sequestered shares) under a bidding process. Standard Chartered is now doing the study,” Jimenez told the Inquirer on the sidelines of the annual reception for the banking community hosted by Bangko Sentral Governor Amando Tetangco Jr. Friday night.
Forward Looking Term SOFR and SOFR Averages (Applied in Advance)... the business loan markets. Each market participant should decide for itself whether and to what extent to use these...
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2024 is looking to be a big year for Bank of the Philippine Islands (BPI), and we’re not just saying that after they booked higher—and promising—first-half profits. ; Apart from that, BPI also bagged multiple awards at the FinanceAsia Awards 2024, among them “Best Bank in the Philippines.” ; “We are honored to have been given these recognitions,” BPI president and CEO TG Limcaoco said in a statement. ; BPI, the country’s fourth largest bank in terms of assets, also bagged its fifth consecutive Best Sustainable Bank award, while likewise clinching the Biggest ESG Impact award.
MANILA -As its chief had hinted, the Bangko Sentral ng Pilipinas (BSP) resumed hiking its policy rate in an off-cycle decision on Thursday, with the possibility of further tightening in a bid to bring inflation back to target as price pressures continue to build. The Monetary Board (MB) lifted the key rate by 25 basis points to 6.5 percent after what analysts called a “hawkish pause” for four straight meetings. It was a move that BSP Governor Eli Remolona Jr. had repeatedly telegraphed to the market a few days ahead. The MB was not supposed ...
operations for about a month starting March 20 this year as the government imposed an... “We should be looking at amounts needed to ensure that we can restart the airline industry without...
With the entry of more foreign competitors into the Philippines, Swedish furniture retailer Ikea seeks to stay ahead of the game by slashing the prices of its bestselling items in this market by about 20 percent. And it’s not a time-bound promo but a permanent price reduction that started in March, covering the first 400 items, with 180 more items included this April, Ikea Philippines country selling manager Leontina Bucur told Biz Buzz in an interview. “We know right now the inflation rate is high; interest rates are high; the wallet is sh ...
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