Archive for the ‘banking’ Category
PDIC issued payments to 33,000 Banco Filipino depositors
Since holding the Banco Filipino Savings and Mortgage Bank under receivership, the Philippine Deposit Insurance Corporation (PDIC) has already paid insurance deposits of 33,440 depositors of the bank through postal money orders. These were sent to depositors, via postal money order without them being required to file for any claims at PDIC. The PDIC said [...]
April 17, 2011
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Tags: Banco Filipino, bank, banking, claim form, deposit insurance, payment, PDIC, Philippine banks, postal money order · Posted in: banking, Consumers, Customer Service, finance, Government, Law, money, People, Philippine banks, Philippine business news, Philippines
Banco Filipino was also delisted from PSE
Days before Banco Filipino Savings and Mortgage Bank was closed by the Bangko Sentral ng Pilipinas, and even before the bank went on “voluntary bank holiday,” Banco Filipino was delisted by the Philippine Stocks Exchange (PSE) from its official registry, which means that the bank can no longer buy or sell shares of stocks. Although [...]
March 24, 2011
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Tags: Banco Filipino, bor, BSP, delisted, disclosure, PDIC, PSE, receivership, SEC, stocks exchange board · Posted in: banking, Corporations, economy, finance, franchise, investments, Law, money, Philippine banks, Philippine business news, Philippines, Stock Market
Banco Filipino asks Court of Appeals to issue TRO
It seems that Banco Filipino hasn’t given up on its fight yet because it has asked Court of Appeals to issue a temporary restraining order (TRO) on the closure order issued by the Bangko Sentral ng Pilipinas (BSP) last week. Banco Filipino vice chairman Perfecto Yasay said they have filed a petition for certiorari with [...]
March 21, 2011
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Tags: Banco Filipino, banking, Banks, BSP, Central Bank, insolvency, Monetary Board, money, PDIC, Peso, Philippine, receivership · Posted in: banking, economy, finance, Government, Law, money, Philippine banks, Philippine business news, Philippines
PDIC announced schedule of Depositors’ Forum
The Philippine Deposit Insurance Corp. (PDIC) released the schedule of depositors’ forum for clients of the closed Banco Filipino Savings and Mortgage Bank. The Depositors’ Forum, which will be held from March 22 to 30 in Metro Manila, Pampanga (Central Luzon) and Laguna (Southern Luzon), will brief the depositors on the procedures and requirements for [...]
March 19, 2011
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Tags: Banco Filipino, bank, banking, Depositors' Forum, money, PDIC, Philippine, receivership · Posted in: banking, Consumers, Customer Service, finance, investments, money, People, Philippine banks, Philippine business news, Philippines
Small depositors are first to receive payments
The Philippine Deposit Insurance Corp. (PDIC) took over the operations of Banco Filipino Savings and Mortgage Bank after being appointed as its receiver by the Bangko Sentral ng Pilipinas. The first order of business was to expedite the payment of deposit insurance to Banco Filipino’s 177,652 depositors, according to PDIC president Jose C. Nograles. Of [...]
March 17, 2011
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Tags: Banco Filipino, bank, banking, claims form, deposit insurance, Depositors' Forum, money order, PDIC, Philippines, PMO, receivership, small depositors · Posted in: Announcement, banking, Consumers, Customer Service, finance, money, People, Philippine banks, Philippines
Banco Filipino ordered closed for the second time
The Bangko Sentral ng Pilipinas shuts down Banco Filipino Savings and Mortgage Bank yesterday, after it “temporarily” closed its doors to its depositors this week. The Aguirre family-owned Banco Filipino was received closure order from BSP for its insolvency. The bank’s liabilities exceed its assets by P8.4 billion. The seven-member Monetary Board decided yesterday to [...]
March 17, 2011
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Tags: Banco Filipino, Bangko Sentral, bank, banking, BSP, closure order, MB, Monetary Board, money, PDIC, Philippines, receivership · Posted in: banking, Corporations, economy, finance, Government, Law, money, Philippine banks, Philippine business news, Philippines
Banco Filipino went on bank holiday, blames BSP
The Banco Filipino Savings and Mortgage Bank went on a bank holiday yesterday, which brought concerns to its depositors who were not aware of what was happening with their bank. The thrift bank has been encountering heavy withdrawals lately as many of its clients were worried about its financial health. Banco Filipino currently has about [...]
March 15, 2011
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Tags: Banco Filipino, bank holiday, bank run, Banks, BSP, Central Bank, finance, Monetary Board, overdraft, Philippine Bank · Posted in: banking, Consumers, economy, finance, Philippine business news, Philippines
Peso seen at P41.50:$1 this year
In spite of the continuous strengthening of the Philippine Peso, London-based Barclays Capital says it sees the the peso at P41.50 to $1 instead of P40 to $1 this year. This is because of the continued increase in global oil prices. According to the latest research note of Barclays Capital economist Prkriti Sofat, the investment [...]
March 13, 2011
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Tags: Barclays Capital, economy, finance, Foreign exchange, global, money, Philippine peso, US dollar · Posted in: banking, economy, entrepreneur, entrepreneurship, finance, Government, money, Philippine business news, Philippines
Philippine remittances in 2010 reached $18.8 B
Remittances to the Philippines reached $18.8 billion in 2010, according to the Bangko Sentral ng Pilipinas (BSP) report. In December 2010, money sent home by overseas Filipino rose 8.1% to $1.69 billion, bringing total remittances for the year to a record of $18.76 billion. This record represents an 8% increase from the previous and beating [...]
February 15, 2011
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Tags: business news, finance, foreign remittance, forex, money, Philippines · Posted in: banking, economy, finance, Government, money, Philippines
Lower remittance fees for OFWs
A new remittance system that will allow for a safer, faster and cheaper remittances by OFWs (overseas Filipino workers) will be implemented by the Bangko Sentral ng Pilipinas (BSP) starting on the third quarter of the year. This is the new Philippine Payments and Settlements System or Philpass Remit System. Under this new system, the [...]
May 25, 2010
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Tags: Business, finance, money, OFWs, Philpass, remittances · Posted in: Announcement, banking, Consumers, economy, finance, Government, money, OFWs, Philippine business news, Philippines
