How MUCH?

Now that you've chosen the bank of your choice, how much will you put in your savings account?

First things first. 

Know the maintaining balance of the account you wish to have rather than the interest it will pay you. 

Maintaining balance is the amount of money required that you need to maintain on your account or else you will be charged by the bank of below maintaining fee, ouch!

Simply put it this way, everyday your account must maintain 1,000 pesos, so if you withdraw the whole amount, be sure to deposit immediately on the next banking day or suffer the consequence..

Right now, universal banks have high maintaining balance, just look for a savings account that only requires around two thousand pesos. 

You already know what bank I'm talking about don't you?

BTW, don't forget to bring 2 valid government unexpired issued IDs when visiting a bank.

PH growth forecast to 7.1% -SC

Standard Chartered raises Philippine 2014 GDP growth forecast to 7.1%

STANDARD CHARTERED Bank Ltd said it upgraded its Philippine GDP growth forecast for 2014 to 7.1% from 6.7%, supported by a “robust” domestic sector and an improving outlook for exports, but noted that food remains the main source of inflation risk.

In a research report, Standard Chartered added that strong growth has been achieved “despite transport gridlock in Manila and slow progress on infrastructure and public-private partnership (PPP) projects,” suggesting upside once such bottlenecks are addressed.

“Food inflation poses upside risks to inflation, although other price pressures have subsided for now. A potential El Nino weather event may boost food inflation this year but a Supreme Court order against electricity price hikes should contain near-term inflation risks.”

The bank expects first quarter gross domestic product growth to have come in at 6.5% year-on-year. 

http://www.bworldonline.com/content.php?section=TopStory&title=Standard-Chartered-raises-Philippine-2014-GDP-growth-forecast-to-7.1%25-&id=87897

finance quote 3

CHIB earned 1.16B on 1Q 2014, 35% drop..

China Banking Corporation (China Bank, stock symbol: CHIB) posted a net income of P1.16 billion (consolidated, excluding Plantersbank) in the first quarter of the year, a 35% drop compared to the same period last year amid lower trading gains. Core business showed very robust results, with net interest income up 42%, boosted by a 20% increase in interest revenues from loans and a 33% drop in interest expense. Non-interest income, excluding trading gains, grew 21%, driven by increased earnings from fee-based businesses like investment banking, private banking, non-life insurance, and remittance.

Return on equity and return on assets stood at 10.30% and 1.14%, respectively.

While earnings in the first three months were dampened by market volatility and the expected drop in trading gains, the growth of core businesses was very strong. The Bank’s loan portfolio expanded 31% year-on-year to P234.98 billion, driven by strong demand from all customer segments (49% loans growth if including Plantersbank). Deposits increased 29% to P350.93 billion, underpinned by a 51% increase in low-cost deposits (checking and savings accounts or CASA) to P142.26 billion, which now accounted for 50% of total peso deposits.

The Bank’s net interest margin improved to 3.13% from 2.74% despite tough competition and declining interest rates.

“Our first quarter profit was in line with our expectations for this time of the year. We are focusing on sustainable earnings through loans and deposits growth and strengthening other fee-based businesses, and we will work hard to meet our goals for the year,” said China Bank’s Ricardo R. Chua, senior executive vice president and chief operating officer.

As China Bank carried out its expansion program, operating expenses were controlled, rising 4% to P2.52 billion. The cost-to-income ratio stood at 63%.

China Bank’s total assets expanded 23% to P408.04 billion (China Bank and China Bank Savings). Combined with Plantersbank, the increase is 37% to P455 billion in resources as of March 31, 2014, ranking fifth largest among domestic private commercial banks in the country.

Even as the loan book showed healthy growth, asset quality further improved as close monitoring and tighter controls led to a drop in gross non-performing loans (NPL) ratio to 1.92% from 2.79%, with net NPL ratio even lower to 0.10%. Loan loss cover was hiked to 145.70% from 135.82%.

The Bank’s total capital in the first quarter stood at P45.78 billion, equivalent to a tier 1 capital adequacy ratio of 13.69%.

At its stockholders’ meeting last May 8, China Bank declared P1.00 per share or 10% cash dividend for a total of P1.59 billion and an 8% stock dividend, and increased its authorized capital stock to P25 billion.

The rights shares purchased by eligible shareholders are also entitled to the cash and stock dividends.

The Bank successfully raised P8 billion from its stock rights offering, issuing 161,609,878 shares at P49.50 per share. The shares were listed at the Philippine Stock Exchange on May 13, 2014. The fresh equity will be used to fund the growth in the Bank’s loan portfolio, branch network expansion, and technology upgrades. The China Bank Group has 450 branches to date (299 China Bank, 73 China Bank Savings, and 78 Plantersbank). The Bank is also implementing a new core banking system for roll-out in the last quarter of the year.

China Bank is the last major bank to raise capital in recent years. Since the start of its branch expansion program in 2006, China Bank has more than doubled its asset size, market reach, and branch network without having to go back to its shareholders for additional capital, until this years’ stock rights offering.

China Bank is the country’s first privately owned local commercial bank, serving the banking needs of the corporate, commercial, and retail markets since 1920. Aside from organic growth, China Bank enters into strategic alliances to expand and strengthen its operations. The Bank entered into a credit card partnership with MasterCard last year and is launching the China Bank credit cards this year. Most recently, it acquired Planters Development Bank (Plantersbank) to strengthen its presence and support to the SME sector.

http://www.chinabank.ph/news.aspx?title=China+Bank+earns+P1.16B;+posts+strong+core+business+growth+in+1Q+2014

SHE invested EVERYTHING to U without a DOUBT!

What BANK?

Now that you've decided to open a savings account, your next question will be, what bank?

For sure, due to their very visible ads and campaign, you'll come up with...

1. We Find Ways..
2. You're In Good Hands..
3. Make The Best Happen..

But why follow the caravan while you can simply choose a partner that will tell you

"Your Success Is Our Business"

Of course you'll get disappointed by their rates but that's the trend right now, thanks to the upgrade given by Fitch, Moody's and S&P.

High Rate, High Risk!

finance quote 2

PNB, BPI part 2...

MANILA, Philippines - Speculations regarding a revival of talks between Philippine National Bank (PNB) and Bank of the Philippine Islands (BPI) caused the share price of the Lucio Tan-owned lender to rise as much as six percent yesterday.

Shares of PNB rose to a high of P94.95 per share before closing up 3.37 percent at P92.

Stock market pundits gobbled up shares of PNB on the back of renewed merger talks. A total of 3.676 million shares valued at P340.72 million changed hands yesterday.

Merger discussions between PNB and BPI collapsed in December 2012 as the Tan-owned bank opted to further grow its business before merging with a much larger company to get the best possible price for its shares.

Under its proposal, BPI would have taken over PNB at a price-to-book value of about 1.6 times.

Had BPI pulled off the acquisition, the merger of the two banks would have created the country’s largest bank, overtaking BDO Unibank and Metropolitan Bank & Trust Co.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1
Earlier rumors said PNB was also among those being eyed by CIMB Group, Malaysia’s second largest lender by assets, as a potential target following failed negotiations with Bank of Commerce.

PNB, after completing its merger with Allied Banking Corp., is seen as a good potential takeover target. Currently the fourth largest lender in the country, PNB has an extensive distribution network of 656 domestic branches and offices and 859 automated teller machines nationwide as of end of December 2013. It has 80 overseas offices and remains the only domestic bank with the largest global presence across Asia, Europe, Middle East, and North America.

Its consolidated assets expanded to P618.1 billion as of Dec. 31 last year, up 87.2 percent from P330.2 billion.

http://www.philstar.com/business/2014/05/09/1320899/pnb-bpi-shares-merger-speculation

DD @ DIVISORIA?!?

MANILA, Philippines—Newly listed property developer DoubleDragon Properties Corp. is setting up a new shopping center in Divisoria, Manila, that it hopes to complete by September this year in time for the Christmas shopping rush.

In a disclosure to the Philippine Stock Exchange on Friday, DoubleDragon said it had entered into a memorandum of agreement to acquire the rights, title and interests of Equitable Development Corp. and Menlo Capital Group over a 5,972-square-meter property at CM Recto corner Dagupan Streets in Divisoria.

The company said that it intends to start the renovation and construction of “Dragon Shopping Center” in Divisoria by June this year in time for the targeted September 2014 completion.

It will have several retail shops, a food court, 1,099 tiangge malls and almost 500 parking slots.

“The project is envisioned to be the gateway to Divisoria and a go-to place for shoppers. The building will be designed for optimum efficiency and will be one of the most modern tiangge shopping malls in the Divisoria area,” the company said.

DoubleDragon said this project would not only boost its own revenue stream but also provide opportunities to hundreds of budding small and medium enterprises (SMEs) that would locate in the new shopping center.

“The company also foresees long-term property value appreciation in this project,” the company said.

This project is undertaken outside of the community mall ventures of subsidiary CityMall Commercial Centers Inc. (CMCCI), which aims to set up about 100 community malls by 2020 under the “CityMall” brand.

DoubleDragon chair Edgar Sia II said Dragon Shopping Center would only be in Divisoria, noting that the tiangge concept is very suitable in the area.

“Divisoria is and will always be the heart of shopping in the Philippines where you can find the best finds at wholesale prices,” Sia said, adding that the company was “set to make the building a landmark and a must-visit place in Divisoria.”

Originally posted: 3:16 pm | Friday, May 2nd, 2014

DoubleDragon expects to breach the P1-billion net profit mark by 2016 with the rollout of this chain of community malls.

By 2020, during which DoubleDragon would have reached its target of setting up about 100 community malls, net profit is targeted to hit P4.8 billion.

Earlier, DoubleDragon also inked a partnership deal with a local group to put up two CityMall malls in Zamboanga City.

CMCCI executed an investment and shareholders agreement with Galleria Zamboanga Inc. (GZI) to form a company that would develop a shopping mall in Tetuan and another in Guiwan, Zamboanga.

DoubleDragon, a joint venture between Mang Inasal founder Edgar “Injap” Sia II and Jollibee group founder Tony Tan Caktiong, expects to invest close to P24 billion to build a chain of 100 community malls in the next five to six years.—Doris C. Dumlao

Read more: http://business.inquirer.net/169501/doubledragon-to-set-up-shop-in-divisoria#ixzz30nqzYcwm
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

Will Smith Said So

Open Now or Never!

People always say that they know how to save but where are they putting their money?

Majority loves to put it in a piggy jar or the very famous Filipino item called "alkansya" and simply smash them when they suddenly want to purchase something. Poor piggy, victim of sudden urge.

For me, the right way of saving is simply to open an account at any bank of your choice.

Start small with a savings account that earns don't ask and learn how to unleash their full potential that will benefit you and your family in the future.

Let me share some tips and tricks that I learned since I started my banking career on my next post and spare piggy for a while..

finance quote

“It’s not how much money you make make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” – Robert Kiyosaki

motto for your FUTURE

What is MF?

SG invests @ Century Tuna

MANILA – Singapore's sovereign wealth fund has invested in Century Canning Corp ahead of the listing of the latter's subsidiary, Century Pacific Food Inc.

In a disclosure to the Philippine Stock Exchange, Century Pacific said Government of Singapore Investment Corp (GIC), through its private equity arm, and CCC entered into an exchangeable loan agreement amounting to P3.4 billion. The debt carries an interest rate of five percent.

CCC will use the proceeds to finance the expansion of existing subsidiaries including but not limited to Century Pacific, possible acquisitions and entry into new businesses, and other general corporate purposes.

The deal runs for a year but may be extended by both parties.

GIC has the option to exchange both the principal and all accrued interest into 245.5 million issued and outstanding shares of Century Pacific at a conversion price equivalent to the Century Tuna maker's initial public offering (IPO) price of P13.75 per share.

Should the exchange option be exercised, GIC will own approximately 11 percent of Century Pacific. It will not dilute the stake of the food manufacturer's public investors because the conversion shares will be transferred from existing shares owned by CCC.

GIC’s partnership with CCC, and its possible entry in Century Pacific, may be considered a vote of confidence in the Philippine tuna canner and the Philippine economy’s strong fundamentals.

GIC is among the world’s largest sovereign wealth funds with assets under management of well over $100 billion. It was set up in 1981 to manage Singapore’s foreign reserves.

“We are pleased to have a world class investor such as GIC as one of our stakeholders. We look forward to a long term, value-creating partnership with them. The financing provided by this transaction will allow us to support our various businesses, including Century Pacific Food Inc, as well as take advantage of opportunities that arise from our fast growing economy," said CCC president and chief executive officer Christopher Po.

Century Pacific is set to debut in the local bourse on May 6 following the conclusion of its maiden share sale. The tuna canner is expected to raise P3.2 billion in gross proceeds, citing strong demand for its IPO.

Apart from Century Tuna, the company's brands include 555 Sardines, Argentina Corned Beef, Swift, Angel and Birch Tree.

http://www.interaksyon.com/business/85927/singapores-sovereign-wealth-fund-invests-in-century-tuna-maker