September 22, 2014 12:43 PM ET

Banks

Company Overview of Philippine Bank of Communications

Company Overview

Philippine Bank of Communications provides commercial banking products and services in the Philippines. The company conducts its operations through Prosperity Banking, Convenience Banking, Enterprise Banking, Treasury, and Trust Group segments. It offers deposit products and services, including savings, checking, and time deposit accounts; and loans comprising commercial loans, industrial loans, foreign currency loans, rediscounting, specialized lending programs, export packing credit loans, trust receipt financing, consumer lending, guarantee programs, auto loans, home loans, and personal loans. The company also provides investment and wealth management products, such as trust products; and...

PBCom Tower

6795 Ayala Avenue corner V. A. Rufino Street

Makati City,  1226

Philippines

Founded in 1939

1,328 Employees

Phone:

63 2 830 7000

Key Executives for Philippine Bank of Communications

Philippine Bank of Communications does not have any Key Executives recorded.

Philippine Bank of Communications Key Developments

Mario J. Locsin Tenders Resignation as a Member of Philippine Bank of Communications

The Philippine Bank of Communications announced that Mr. Mario J. Locsin tendered his resignation, effective September 15, 2014, as a member of the board of directors of the bank. Mr. Locsin resigned in order to pursue his other business interests.

Philippine Bank of Communications Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Philippine Bank of Communications Inc. announced unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net interest income was PHP 414,438,000 against PHP 402,590,000 for the same period a year ago. Total operating income was PHP 602,084,000 against PHP 1,062,349,000 for the same period a year ago. Net income before tax was PHP 186,160,000 against PHP 539,208,000 for the same period a year ago. Net income was PHP 153,057,000 against PHP 466,471,000 for the same period a year ago. Basic and diluted earnings per share were PHP 0.51 against PHP 1.56 for the same period a year ago. Net cash from operating activities was PHP 1,270,505 against net cash used in operating activities of PHP 923,746 for the same period a year ago. Property and equipment was PHP 88,620,000 against PHP 41,903,000 for the same period a year ago. For the six months, the company reported net interest income was PHP 971,843,000 against PHP 774,732,000 for the same period a year ago. Total operating income was PHP 1,371,701,000 against PHP 2,473,627,000 for the same period a year ago. Net income before tax was PHP 1,073,535,000 against PHP 1,146,530,000 for the same period a year ago. Net income was PHP 190,434,000 against PHP 1,181,273,000 for the same period a year ago. Basic and diluted earnings per share were PHP 0.64 against PHP 4.59 for the same period a year ago. Net cash used in operating activities was PHP 265,272 against net cash from operating activities of PHP 1,113,462,000 for the same period a year ago. Property and equipment was PHP 308,609,000 against PHP 96,955,000 for the same period a year ago.

CIMB Eyes Philippine Business Bank

CIMB Group Holdings Berhad (KLSE:CIMB) is interested in 35% stake in Philippine Business Bank, Inc. (PSE:PBB) led by Alfredo Yao, Philippine Daily Inquirer reported citing sources. "Industry sources privy to the discussions confirmed that Alfredo Yao was interested in taking CIMB Group Holdings Berhad as a strategic partner in Philippine Business Bank, Inc., similar to how he entered into an airline partnership deal with budget carrier AirAsia, the Philippine Daily Inquirer reported. The sources said Alfredo Yao at present would only consider ceding to CIMB Group Holdings Berhad a maximum stake of 35% in Philippine Business Bank, Inc. Meanwhile, CIMB Group Holdings Berhad had also expressed interest in Philippine Bank of Communications (PSE:PBC). Philippine Business Bank, Inc. is currently valued by the stock market at PHP 9.91 billion. This market capitalization suggests that a 35% stake in Philippine Business Bank, Inc. is worth around PHP 3.5 billion. CIMB Group Holdings Berhad was not available for comment.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
June 25, 2014
--
Merger/Acquisition
April 28, 2014
Banco Dipolog, Inc.
Merger/Acquisition
March 12, 2014
Rural Bank of Nagcarlan, Inc.
 

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