First Gas to borrow $80 million from local banks
First Gas Power Corp. is planning to borrow $80 million from local banks, and the Lopez-controlled is seeking the approval of Bangko Sentral ng Pilipinas to borrow the said amount, which was said to be higher that what was being considered earlier by the company, which was only $50 million.
The company is the one who [...]
May 16, 2010
Tags: bank, banking, borrowing, BSP, FCDU, finance, First Gas, foreign currency, loan, money, Philippines, power plant Posted in: Corporations, Foreign exchange, Philippine business news, Philippines, banking, economy, finance, money 
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PNB, Bank of China tie up in handling remittances
Philippine National Bank (PNB), the country’s seventh largest bank in terms of assets, has signed an agreement with the Bank of China (BOC) in handling remittances of Chinese nationals who are based in Italy. PNB’s tie-up with BOC expands the market coverage PNB Italy SpA, which was established primarily to facilitate remittances of Filipinos who [...]
April 8, 2010
Tags: agreement, Bangko Sentral, bank, Bank of China, banking, Boc, contract, Foreign exchange, money, network, OFW, Philippine National Bank, Philippines, PNB, remittances Posted in: Corporations, Foreign exchange, OFWs, Philippine banks, Philippines, banking, economy, finance, money No Comments
Five banks signed trade finance agreement with ADB
The Asian Development Bank is making funds available to Philippine traders via its $1-billion regional facility. To help traders get access to this fund, the ADB signed a trade finance agreement with five banks – Development Bank of the Philippines, Metropolitan Bank and Trust Co., Philippine National Bank, Rizal Commercial Banking Corp. and Allied Banking [...]
February 23, 2010
Tags: ADB, bank, banking, finance, funds, money, Philippine Posted in: Announcement, Corporations, Loans, Opportunities, Philippine banks, Philippine business news, Philippines, banking, economy, finance, money No Comments
BancNet members reached 59 in 2009
The number of members in BancNet has reached 59 at the end of 2009.
Last year, BancNet welcomed into its roster 10 new members, these are: Philippine National Bank (PNB), Equicom Savings Bank, Maybank Philippines, China Bank Savings, Wealth Bank, Entrepreneur Bank, Optimum Development Bank, Rural Bank of Dulag, Gubat St. Anthonry Cooperative and News Multi-Purpose [...]
February 2, 2010
Tags: ATMs, BancNet, banking, Banks, cashless shopping, money, network, Philippines Posted in: Announcement, Consumers, Philippine banks, Products, banking, communications, e-commerce, economy, finance, innovation, money No Comments
Banks to open during holidays
Gone were the days when the public are left on their own during long holidays, as far as their finances and banking matters are concern. This time, some banks would be open during the holidays to attend to their clients’ needs.
Banks also assured the public that their automated teller machines (ATMs) would remain operational during [...]
December 24, 2009
Tags: bank, banking, customer satisfaction, Customer Service, long holidays, money, Philippines Posted in: Announcement, Consumers, Customer Service, Philippine Holidays, Philippine banks, Philippine business news, Philippines, banking, finance, money No Comments
Chinatrust plans opening new branch in Cagayan de Oro City
Chinatrust Commercial Bank Corp. in the Philippines is a subsidiary of the Chinatrust Commercial Bank Corp. in Taiwan, which is the largest and most awarded private commercial bank in Taiwan and was included in the top 200 biggest banks in terms of capital.
With 23 branches in the Philippines at present, Chinatrust plans to open a [...]
September 20, 2009
Tags: banking, business news, Cagayan de Oro City, finance, Mindanao, money, Philippine Bank, Philippines, Taiwan Posted in: Announcement, Corporations, Philippine banks, Philippine business news, Philippines, banking, economy, finance, money 4 Comments
BSP declared ‘not a bank’ and exempted from GRT
A memorandum from the Bureau of Internal Revenue has declared the Bangko Sentral ng Pilipinas (BSP) not a bank and therefore exempted from GRT or gross receipt tax.
The Revenue Memorandum Circular 65-2008, which states that BSP is exempted from GRT and some other taxes was signed by former BIR commissioner Lilian B. Hefti. It was [...]
July 13, 2009
Tags: bank, banking, BIR, BSP, credit, finance, GRT, money, Philippines, tax exemption Posted in: money No Comments
