GT Capital to Subscribe in Metrobank Stock Rights Offer

GT Capital Holdings Inc. (PSE: GTCAP) has disclosed that it intends to fully subscribe in Metropolitan Bank and Trust Co.’s (Metrobank, PSE: MBT) stock rights offer (SRO), as disclosed by Metrobank on 17 January 2018. GT Capital currently owns 36.09% of Metrobank, one of the country’s largest banks in terms of assets, deposit base, and […]
Continue reading…

 

Metrobank Board Approves SRO

Metropolitan Bank & Trust Company (Metrobank, PSE: MBT) received Board approval to conduct a Stock Rights Offer (SRO) by way of issuance of up to a maximum of 819,827,214 common shares, which is equivalent to the remaining unissued shares from the bank’s authorized capital stock. Timing and size of the transaction are subject to other […]
Continue reading…

 

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 […]
Continue reading…

 

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. […]
Continue reading…

 

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 […]
Continue reading…

 

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 […]
Continue reading…

 

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 […]
Continue reading…