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EastWest Bank profit hits P6.1 billion
Gotianun-led EastWest Banking Corp. saw its net income jump by 32 percent to P6.1 billion in 2023 from P4.6 billion in 2022 on the back of double-digit growth in loan portfolio and stable funding sources......»»
Semirara income drops 30% to P27.9 billion
Lower prices of coal and power rates dragged the net income of Semirara Mining and Power Corp. by 30 percent to P27.9 billion in 2023 from P39.9 billion in 2022......»»
GSIS income surges to P113 billion in 2023
The earnings of state-run Government Service Insurance System jumped by 70 percent to P113.3 billion in 2023 from P66.4 billion in 2022 on the back of strong revenues from financial assets and investments......»»
Asialink loan releases jump 38% to P12.6 billion
Loans extended by Asialink Finance Corp. jumped by 38.1 percent to P12.6 billion last year from P9.12 billion in 2022, further boosting its lending portfolio......»»
UnionBank profit down 28 percent to P9.2 billion in 2023
The earnings of Union Bank of the Philippines dropped by 27.8 percent to P9.2 billion in 2023 from P12.74 billion in 2022, as the listed bank booked higher provisioning and integration costs from the takeover of the retail banking business of global banking giant Citi in the Philippines......»»
USD3.32-B Loan Approved by BSP
On Monday, the Bangko Sentral ng Pilipinas (BSP) announced that the Monetary Board approved USD 3.32 billion in medium-to-long-term (MLT) foreign borrowings for Q4 2023. From October to December 2023, the public sector’s foreign borrowings rose by 65.8%, reaching USD3.32 billion, up from USD2 billion in the same period in 2022. This brought the total […].....»»
BoP reverts to surplus, reaches $3.7 billion last year
The country’s balance of payments position reverted to a surplus, hitting $3.67 billion last year and reversing the $7.26 billion deficit recorded in 2022, according to the Bangko Sentral ng Pilipinas......»»
Agriculture loans hit P213 billion in 2022
The share of agriculture loans and services granted by the banking sector picked up to 18.1 percent in 2022 from 17.6 percent in 2021 as the agriculture industry slowly recovered from the COVID pandemic......»»
Marcos denies family’s ill-gotten wealth anew, accuses critics of propaganda
Marcos sought to downplay well-documented evidence that the late dictator Ferdinand Marcos Jr. had stripped government coffers of at least $5 billion and that his family acquired millions-worth of stolen loot that they even took with them to exile in Hawaii......»»
DA to tap buffer fund for stockpile of products
The Department of Agriculture is planning to use its buffer fund to build stockpiles of “sensitive” products such as rice and pork to ensure public access to affordable food in the market......»»
KATRIBU on the impact of Maharlika Investment Fund on the Moro and Indigenous Peoples
A speech delivered by Beverly Longid, KATRIBU National Convenor, during the Maharlika Investment Fund forum organized by the First Quarter Storm (FQS) Movement......»»
SRA allots P66-M fund for El Niño mitigation measures
SRA allots P66-M fund for El Niño mitigation measures.....»»
SPNEC confirms it is looking for investors in Terra Solar to help fund project dev t
SP New Energy, Meralco’s new renewable energy subsidiary, confirms a report that it was seeking investors to help fund the development of the 3.5 GW Terra Solar project, but clarified that it is only seeking investors “at the Terra Solar Philippines Inc. level,” and that it has only “just launched the process and are still in discussions with various possible investors.” .....»»
Rama to barangays: No aid if fire safety initiatives not done
CEBU CITY, Philippines – Cebu City Mayor Michael Rama took a bold stance on withholding yearly aid and allocations of barangays if they would fail to comply with re-blocking initiatives in communities at risk of fire. He said that the fund in context would be sourced from the Local Development Fund (LDF). READ: Probe.....»»
Cebuana Lhuillier, Packworks boost MSME growth with ‘Sari Fund’
Cebuana Lhuillier, Packworks boost MSME growth with ‘Sari Fund’.....»»
DBM approves P455-million funding to aid rice farmers
The DBM said that the fund was released to the Department of Agriculture (DA) and three other Government-Owned and Controlled Corporations to cover the fund’s operating requirements for the first quarter of 2024......»»
The Vital Role of Emergency Funds in a Business
Navigating the intricate terrain of business is akin to assembling a complex puzzle, where the significance of an emergency fund emerges as the elusive missing piece. This versatile tool stands as a stalwart guardian during uncertain times, deftly guiding enterprises through unforeseen challenges and financial quandaries. Shielding Against Financial Surprises Picture the emergency fund as […].....»»
Pag-IBIG members to get more benefits
Filipinos are expected to enjoy double savings and higher cash loan entitlements while having access to affordable home loans, according to the Home Development Mutual Fund or Pag-IBIG Fund......»»
Pag-IBIG to increase member contributions in February 2024
MANILA, Philippines — The Home Development Mutual Fund or the Pag-IBIG Fund said that it will raise its member contributions in February 2024. In a phone interview on Tuesday, it said that monthly contributions from employees and employers will be increased to P200, from the minimum P100. ALSO READ: PhilHealth members’ contribution rises to 5%.....»»
P257-M fund for plazas rehab
P257-M fund for plazas rehab.....»»