MB Approves Sanctions on Metrobank

The Monetary Board (MB) approved the imposition of sanctions on Metropolitan Bank and Trust Company (MBTC, PSE: MBT) in connection with the examination conducted by the Bangko Sentral ng Pilipinas (BSP) relating to the PhP1.75 billion fraud allegedly perpetrated by one of its officers. In determining the appropriateness of the sanctions, the MB took into […]
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Primex Group Prepays All Bank Obligations

Manila–(PHStocks)–Listed property developer Primex Corp. (PSE: PRMX) disclosed that, together with its subsidiary Primex Realty Corp. and affiliate Primex Land Inc., the group, which has a total approved loan line of PhP1.8 billion, was able to prepay all its bank obligations with Metrobank (PSE: MBT) and BDO Unibank (PSE: BDO) as of January 3, 2017. […]
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GT Capital 9M 2016 Net Income Up 46% to PhP12.3B

Makati—(PHStocks)—GT Capital Holdings Inc. (PSE: GTCAP) reported today that its consolidated net income for January to September 2016 increased a noteworthy 46% to PhP12.3 billion from PhP8.4 billion in the same period last year. Excluding extraordinary gains, core net income amounted to PhP9.3 billion from Php7.6 billion in 2015, representing an increase of 23%. The […]
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Globe Telecom Signs PhP20B Term Loan Facility

Taguig—(PHStocks)—Globe Telecom Inc. (PSE: GLO) signed a 12-year and 15-year PhP20 billion term loan facility arranged by First Metro Investment Corp. with Metropolitan Bank and Trust Co. (PSE: MBT) as lender. The loan shall be used to finance the acquisition of a 50% equity interest in Vega Telecom Inc., Bow Arken Holdings Co. Inc., and Brightshare […]
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Metrobank Closes LTNCD Offer Period Early Due to Oversubscription

Makati—(PHStocks)—Metropolitan Bank & Trust Company (Metrobank, PSE: MBT) announced the early close of the offer period of its 7-year Long-Term Negotiable Certificates of Time Deposit (LTNCDs) due to oversubscription. Metrobank is moving the close of the offer period to Monday, September 5, 2016. Despite the early close, the issue and listing date remain unchanged at […]
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PSBank Post PhP1.2B Net Income for 1H2016

Makati—(PHStocks)—Philippine Savings Bank (PSBank, PSE: PSB), the thrift bank arm of the Metrobank Group (PSE: MBT), grew its net income by 2.2% to Php1.2 billion in the first half of the year from PhP1.1 billion in the same period last year. Higher net earnings was supported by a 10% increase in core income, composed of revenues from […]
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PHStocks Exclusive: Top 50 Best Performing Stocks in May 2016

Manila—(PHStocks)—Last month saw the Philippines’ presidential elections, and the looming change of administration in the country saw investor mood getting more positive, as seen in the mostly positive levels of the mainboard PSE index. We have yet to see really the impact of this new government in the country’s economy. Let’s just hope it’s for […]
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