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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Roy · 
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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
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 [...]
May 16, 2010
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Tags: bank, banking, borrowing, BSP, FCDU, finance, First Gas, foreign currency, loan, money, Philippines, power plant · Posted in: banking, Corporations, economy, finance, Foreign exchange, money, Philippine business news, Philippines
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
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Tags: agreement, Bangko Sentral, bank, Bank of China, banking, Boc, contract, Foreign exchange, money, network, OFW, Philippine National Bank, Philippines, PNB, remittances · Posted in: banking, Corporations, economy, finance, Foreign exchange, money, OFWs, Philippine banks, Philippines
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
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Tags: ADB, bank, banking, finance, funds, money, Philippine · Posted in: Announcement, banking, Corporations, economy, finance, Loans, money, Opportunities, Philippine banks, Philippine business news, Philippines
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 [...]
February 2, 2010
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Tags: ATMs, BancNet, banking, Banks, cashless shopping, money, network, Philippines · Posted in: Announcement, banking, communications, Consumers, e-commerce, economy, finance, innovation, money, Philippine banks, Products
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 [...]
December 24, 2009
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Tags: bank, banking, customer satisfaction, Customer Service, long holidays, money, Philippines · Posted in: Announcement, banking, Consumers, Customer Service, finance, money, Philippine banks, Philippine business news, Philippine Holidays, Philippines
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 [...]
September 20, 2009
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Tags: banking, business news, Cagayan de Oro City, finance, Mindanao, money, Philippine Bank, Philippines, Taiwan · Posted in: Announcement, banking, Corporations, economy, finance, money, Philippine banks, Philippine business news, Philippines
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 [...]
July 13, 2009
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Tags: bank, banking, BIR, BSP, credit, finance, GRT, money, Philippines, tax exemption · Posted in: money
