The thrift bank subsidiary of the Bank of the Philippine Islands, BPI Family Savings Bank, is going to roll out a credit facility that will cater to the micro and small enterprises. This plan of BPI Family to increase its loan exposure will be done through a customized business packaged which it will roll out [...]

Local banks have agreed to help raise and lend the Panay Energy Development Corp. (PEDC) P14-billion for its construction of a 164-megawatt coal-fired power plant in La Paz, Iloilo City. The Panay Energy is owned by George Ty’s Metrobank group, and the loans were arranged by First Metro Investment Corp. (FMIC), the investment banking arm [...]

The Home Development Mutual Fund (HDMF), more popularly recognized as he Pag-IBIG Fund launched a bond offering which will be auctioned to the public on March 9. The state-administered fund manager will be offering P12 billion bonds starting next month.
Jaime Fabiaña, chief executive officer of HDMF said that the proceeds of the funds would be [...]

The Metropolitan Bank and Trust Company (Metrobank) has awarded the Asian Terminals Inc. (ATI) credit line worth P250 million. The ATI said the proceeds of the funds would be used to fund its projects in the next five years.
ATI, in its disclosure to the Philippine Stock Exchange (PSE), said it signed an agreement with Metrobank [...]

Bibingkinitan! has embarked on an aggressive campaign to expand its number of outlets this year. The fast-rising Filipino food chain is aiming to open up about 100 new outlets all over the country, to bring its total number of stores to at least 250 by the end of 2010.
Richard V. Sanz, president and chief executive [...]

This early, the Philippine Veterans Bank (PVB) has already opened 10 new branches to beef up its network to 60 branches all over the country. The 10 new branches were actually opened simultaneously last January 18.

The Philippine National Bank (PNB) and Allied Banking Corporation, both controlled by tycoon Lucio Tan, will continue with its scheduled merger which will happen in the second half of 2010, said PNB president Omar Byron Mier.
The merging of the two banks will create the fourth largest privately owned bank in the Philippines, behind the three [...]

Anytime this year, we will be seeing new designs in our money, both in bills and coins. The new money designed are set for printing within the year, said the Bangko Sentral ng Pilipinas (BSP), after getting the approval of President Gloria Macapagal-Arroyo.

During the long holidays, banks in the Philippines have assured the public that it will be opening selected branches to serve their clients’ needs. The automate teller machines (ATMs) were also assured to be fully operational (and loaded) for the holidays.

And so President Gloria Macapagal-Arroyo’s trip to Copenhagen, Denmark seems to be fruitful. If the said pledges amounting to $380 million (P17.67 billion) in foreign funding for environment-related projects and programs in the Philippines would materialize.

The pension fund provider for private companies’ employees, Social Security System, said it has extended so far a total of P1.2 billion in loans micro, small and medium enterprises. The agency provided the said grants under a credit implemented by government financial institutions.

The San Miguel Corp. (SMC), the country with most diversified conglomerate, has been extended a P2 billion loan by the state-owned Land Bank of the Philippines (Landbank). The loan would be used by SMC to finance its expansion program.

To reach to people who have no access to banks, the Bangko Sentral ng Pilipinas (BSP) looks into tapping third parties such as retail outlets to be conduits for money transfer through mobile phones. While considering the said option, BSP governor Amando M. Tetangco, cautioned while that the business arguments for the establishment of a [...]

The National Development Co. (NDC) is planning to avail of a loan from private banks in order to raise at least $300 million by yearend. NDC will be buying  a portion of the controlling of stake of Land Bank of the Philippines (LandBank) and the Development of the Philippines (DBP) in Metro Rail Transit Corp. [...]

I-Remit Inc. continues to expand its presence all over the world. This time, the Filipino-owned non-bank remittance company has acquired a license to do business in Europe. The company said it received a copy of a letter which came from Banca D’ Italia Eurosistema advising of the registration of iRemit Europe in the general list [...]

Taguig City was cited as the country’s Most Business Friendly City by the World Bank. The recognition was given to Taguig because of the city government’s initiatives to develop infrastructure and ensure that investors enjoy the most conducive climate to develop and expand their businesses.

With P26.4 billion in cash as of September, with half of which is “readily deployable for investment,” according to the firm’s managing director John Eric Francia, the holding company of Ayala group is looking for more business acquisitions in different sectors where it can make an “impact.”
Francia said, “Investing in new businesses is definitely on [...]

Megalink, one the country’s biggest network of automated teller machine (ATM) has added a new service to mobile phone users which enables cell phone subscribers to pay their bills or load up their phones with load credits through the network. Megalink has already arranged an agreement with the two largest mobile phone service providers in [...]

China Banking Corporation (Chinabank) was ordered by the Supreme Court (SC) to pay the Bureau of Internal Revenues (BIR) its deficiency documentary stamp taxes worth around P11.3 million. The taxes were for the special savings deposits (SSDs) which were made to appear like tax-exempt regular savings accounts.

The credit card servicing arm of the Rizal Commercial Banking Corp., Bankard, Inc., has signed a deal with China UnionPay (CUP), the lone national bank card payment network in China based in Shanghai. The agreement will allow local retailers to take advantage of the growing number of Chinese tourist in the country.