...Trade and Industry, and the SB Corporation shall be jointly responsible in organizing activities for the event.” Mayor declares 2nd week of July as MSME week in Davao City http://www.pia.gov.ph/news/index.php?article=1561341210151 (posted July 3, 2012) Spearheaded by the Davao City MSME Development Council, several activities are lined up for the celebration slated from July 9 to 13. 1. MSME Week Exhibit at the Davao City Pasalubong Center and Abreeza Ayala Mall, 2. Seminars and trainings for MSMEs, financing forum and food safety seminar in public markets: * Solid Waste Management Seminar by the City Environment and National Resources Office; * Knowing Your Currency and Briefing on the Credit Surety Fund by the Bangko Sentral ng Pilipinas, * Techno-Demo on Scented and Decorative Candle Making by the Department of Science and Technology XI, * Financial Management Seminar by Department of Trade and Industry – Davao City Field Office; * Branding and IPO Seminar, How to Start a Business and Simple Bookkeeping Seminar; * and Anti-Corruption & Integrity Initiatives Seminar by the Davao City Chambers of commerce and...
Words: 2281 - Pages: 10
... the 26 offices were consolidated into 12. Three new pawnshops that have complied with the requirements but are still waiting for their registration certificates brought the total respondents to fifteen. Registered pawnshops in province of Albay but located outside Metro Legazpi were not included in the list of respondents. Financial condition, management practices, and the clients' perspective were likewise not considered in the study. Sources of Data The primary source of data was the information generated through the survey questionnaires distributed to the owners and staff of the different pawnshops in Metro Legazpi. The secondary source of data came from the files and records of the Department of Thrift Banks and Non-Bank Financial Institutions, Bangko Sentral ng Pilipinas. Additional data were also culled from the related manuals, circulars, memoranda, books, periodicals, and other related literatures and studies reviewed. Methodology The study employed the triangular method in the instrumentation process - interview, questionnaire and observation. Two...
Words: 1856 - Pages: 8
...26 offices were consolidated into 12. Three new pawnshops that have complied with the requirements but are still waiting for their registration certificates brought the total respondents to fifteen. Registered pawnshops in province of Albay but located outside Metro Legazpi were not included in the list of respondents. Financial condition, management practices, and the clients' perspective were likewise not considered in the study. Sources of Data The primary source of data was the information generated through the survey questionnaires distributed to the owners and staff of the different pawnshops in Metro Legazpi. The secondary source of data came from the files and records of the Department of Thrift Banks and Non-Bank Financial Institutions, Bangko Sentral ng Pilipinas. Additional data were also culled from the related manuals, circulars, memoranda, books, periodicals, and other related literatures and studies reviewed. Methodology The study employed the triangular method in the instrumentation process - interview,...
Words: 1855 - Pages: 8
...various types of banks, from large universal banks to small rural banks and even non-banks. As at 17 February 2014,[1] there were 36 universal and commercial banks, 71 thrift banks, 533 rural banks, 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed with the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) under Republic Act No. 8791, also known as the General Banking Act of 2000. On top of regular banking services offered by universal, commercial, thrift and rural banks, there are savings and loans association which are mainly based in communities and among retirees in the armed forces and the police organization and other employees of the government of the Philippines. Prominent of these small savings services is the Armed Forces of the Philippines Savings and Loans Association, Inc. or AFSLAI which is exclusive to active servicemen and retirees of the armed forces in the Philippines. List of major universal and commercial banks Banco de Oro Universal Bank (BDO Unibank) Metropolitan Bank and Trust Company Bank of the Philippine Islands (BPI) Land Bank of the Philippines Philippine National Bank Development Bank of the Philippines China Banking Corporation (Chinabank) Rizal Commercial Banking Corporation UnionBank of the Philippines Security Bank Corporation Citibank, N.A. United Coconut Planters Bank Hongkong and Shanghai Banking Corporation East West Bank Philtrust Bank (Philippine...
Words: 850 - Pages: 4
...merger MANILA, Philippines—Philippine National Bank plans to offer new shares to all stockholders of Allied Bank at P70 per share pursuant to the merger between the two banks via a share-swap. PNB plans to offer 423.96 million common shares worth a total of P29.68 billion to Allied Bank shareholders, based on the bank’s application for registration of securities at the Securities and Exchange Commission. This offer was based on the exchange ratio of 130 PNB common shares for each Allied Bank common share and 22.763 PNB common shares for each Allied Bank preferred share. As a result of the merger, PNB will have a combined outstanding capital stock of 1.086 billion common shares of which 423.96 million new common shares are issued to Allied Bank stockholders with an issue value of P29.68 billion. An application to list the new shares is expected to be submitted to the Philippine Stock Exchange before the end of this month. While PNB and Allied Bank executed their merger last February, this offer will complete the consolidation of shares into PNB which will be the surviving bank. “The merger marks a special milestone for both PNB and Allied Bank. The synergies arising from the broadened network, diversified deposit base and improved scale will provide a compelling value proposition for their various stakeholders,” PNB said in the regulatory filing. “In creating the country’s fourth largest privately -owned bank, the merged bank will be in a prime position to improve customer...
Words: 5373 - Pages: 22
...Media Releases BSP Conducts Learning Outreach Activities in Dipolog City | 08.06.2015The Bangko Sentral ng Pilipinas (BSP) will conduct the fourth leg of its Economic and Financial Learning Program (EFLP) for 2015 in Dipolog City on 10 to 13 August 2015. The EFLP consolidates the learning outreach activities of the BSP under one flagship program. It includes a series of learning sessions that aim to promote greater public awareness and understanding of key economic and financial issues. The EFLP also embodies the goal of the BSP to promote economic and financial education among its stakeholders, who can then become more effective partners of the BSP in safeguarding price stability and in ensuring a stronger and safer banking and payments system.The following programs will be conducted: * “Project BRO (BSP Reaches Out),” a savings campaign for kids and teens from Grade 1 to Grade 10, scheduled on 10 August 2015, Monday, Dipolog Pilot Demonstration School (8:00 to 11:00 a.m.) and St. Vincent School (1:30 to 4:30 p.m.); and 11 August 2015, Tuesday, Zamboanga del Norte High School (8:00 to 11:00 a.m.), and St. Mary’s Academy (1:30 to 4:30 p.m.); * “Be up to SPeed on BSP,” Information Campaign on the Role of the BSP in the Economy, 11 August 2015, Tuesday, 1:30 to 4:30 p.m. (module for the workforce), and 12 August 2015, Wednesday, 8:30 a.m. to 12:00 noon (module for students), Ariana Hotel; * Financial Education Expo for the Working Sector, 12 August 2015, Wednesday...
Words: 1526 - Pages: 7
...placing all banks under the Bureau of Treasury. The Insular Treasurer was authorized to supervise and examine banks and banking activities. | | | February 1929 | The Bureau of Banking under the Department of Finance took over the task of banking supervision. | | | 1939 | A bill establishing a central bank was drafted by Secretary of Finance Manuel Roxas and approved by the Philippine Legislature. However, the bill was returned by the US government, without action, to the Commonwealth Government. | | | 1946 | A joint Philippine-American Finance Commission was created to study the Philippine currency and banking system. The Commission recommended the reform of the monetary system, the formation of a central bank and the regulation of money and credit.The charter of the Central Bank of Guatemala was chosen as the model of the proposed central bank charter. | | | August 1947 | A Central Bank Council was formed to review the Commission’s report and prepare the necessary legislation for implementation. | | | February 1948 | President Manuel Roxas submitted to Congress a bill “Establishing the Central Bank of the Philippines, defining its powers in the administration of the monetary and banking system, amending pertinent provisions of the Administrative Code with respect to the currency and the Bureau of Banking, and for other purposes. | | | 15 June 1948 | The bill was signed into law as Republic Act No. 265 (The Central Bank Act) by President...
Words: 2270 - Pages: 10
...Philippine Universal Banks Marylet H. Ilagan Master in Business Administration Lyceum of the Philippines University-Batangas Effectiveness of Credit Risk Management on the Financial Performance of Philippine Universal Banks Banks are considered to be in the business to safeguard money and other valuable of the clients; provide loans, credit and payment services; and even offer investment and insurance products. This financial institution is also critical in handling and surviving different types of risks. The issue on credit risk has greater concern on the level of perceived risk from business conditions, since this risk most likely prompts bankruptcy. The turmoil in the banking industry highlights the effectiveness of credit risk management. Credit risk management is a structured approach to managing uncertainties through risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources (Achou & Tenguh, 2008). Its quality is the main indicator of the bank’s financial soundness. Boahene et all (2012) stressed that default of loans and advances shows serious setbacks not only for borrowers and lenders but also to the entire economy of a country. Studies of banking crises all over the world have shown that poor loans (asset quality) are the key factor of bank failures. In one of the published report of Asian Banker Research (2011), Philippine banks are considered to...
Words: 1585 - Pages: 7
...ALLIED BANK COMPANY BACKGROUND: Allied Bank’s history can be traced back to the defunct General Bank and Trust Company (General Bank). In 1977, Lucio Tan acquired the General Bank for only P500,000 and renamed it as Allied Bank. In 1981, it was authorized by the Bangko Sentral ng Pilipinas to operate an expanded foreign currency division and became a universal bank. A year later, Allied Bank opened the Allied Capital Resources, Ltd. in Hong Kong. In 1979, it became the number one bank in terms of total resources among the 26 private banks in the Philippines. By 1982, the bank has been granted a universal banking license. In 1986, Allied Bank acquired a development bank and renamed it First Allied Savings Bank, which is now known as Allied Savings Bank. It was one of the nine founding members of BancNet in 1990. Allied Bank reached a milestone when it became the first commercial bank to open a branch in the People’s Republic of China—the Xiamen Commercial Bank (now Allied Commercial Bank). Since then, Allied Bank has put up representative offices in Tokyo, Sydney and Bangkok. In 2003, Allied Bank entered the bancassurance with a 25% stake in the New York Life Philippines, Inc. Four years later, it acquired an additional 50% of the life insurance company making New York Life a subsidiary of Allied Bank. Alliedbankers Insurance Corporation is formerly the Sincere Insurance Company, Inc. Which was incorporated in 1960. The Lucio Tan Group of Companies (LTGC) acquired...
Words: 1995 - Pages: 8
...Introduction It is said that Pawnbroking is the oldest source of credit. (Caskey, 1994) Pawnshop loans are small, short-term, collateralized loans typically used by low-income consumers. Despite their small principal, however, pawnshop loans are an important tool that many customers use to manage their monthly finances during financial shortfalls. (Carter and Skiba, 2012) In the Philippines, Pawnshop is one of the financial service providers (FSP) that are helping to increase the access to financial services of underserved and unserved. For many Filipinos, pawning is the most convenient way to raise money, easier than securing a bank loan. In the Bangko Sentral ng Pilipinas Report on the State of the Financial Inclusion in the Philippines in 2011, the Banking sector is accounted for more than 80 percent of the total resources of the financial system. This means that the 20 percent are shared by other service providers such as pawnshops, money changers, remittance agents and FX dealers. Some municipalities in the Philippines have no banking presence but have access to pawnshops. While pawnbroking is the main business activity of pawnshops, nowadays many pawnshops are engaging into other auxiliary businesses such as money changing, remittance facilitation, foreign exchange dealership, and bills payment facilitation. Moreover, few pawnshops are offering cash in-cash out centers and offer mobile banking services. Financial economists have produced a large number of theoretical...
Words: 489 - Pages: 2
...REMITTANCE FOR DEVELOPMENT IN NEPAL National Remittance Conference 2013 REPORT Kathmandu, Nepal 28 November 2013 Mandeep Karn Dibayashwor Raj Baidya Organized by National Banking Training Institute (NBTI) in association with the Asian Development Bank (ADB), and hosted by the Mr. Sanjib Subba, CEO and Company Secretary, NBTI. Acknowledgement APEX College would like to express its gratitude to the National Banking Training Institute for the great learning experience opportunity and report on ‘NATIONAL CONFERENCE ON REMITTANCE FOR DEVELOPMENT IN NEPAL’ . This allowed us to participate and gather crucial conference details, data and information in regards to remittance and migrant workers of Nepal. The topic is pertinent to the current Nepalese context. All are related to recent conference ‘National Remittance Conference- 2013: national conference on remittance for development in Nepal’. Abstract A remittance is basically the transfer of money by a foreign worker to his or her home country or simply sending an amount of money from one country to another. Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid. According to World Bank report in 2012, $401 billion new remittance record went to developing countries with overall global remittances (including developed countries) topped $514 billion. Our economy at large is remittance based economy. Remittance accounts for 25% of GDP (Gross...
Words: 5411 - Pages: 22
...Standard Chartered Asia economist Jeff Ng said that the 2015 Philippine economy will remain “anchored” amidst the “tempest” in the global financial system resulting from the frequent adjustments in US interest rate. Mr. Ng pointed out that provided vital infrastructure investments are laid in place, The Philippines may likely reach the higher end of the projection this year. “We expect the Philippines to still outperform the rest of its Asean neighbors. It’s a bright spot in Asia”. He added, “The Philippines is seen as a standout.” Relevance: Standard Chartered Bank has strong confident to stay their business in the Philippines due to good economic development and improving standards of living, poverty levels in emerging market economies (EMEs) are dropping. High opportunity to reach their target market because of high consumer market and investment potential in an economy. The bank expects the Bangko Sentral ng Pilipinas (BSP) to increase interest rates by 50 basis points by the fourth quarter of this year, as major economies continue to adjust their monetary policies as concern over the world economic growth linger. Philippines GDP Growth Rate rise up to 6% in 2015 The Philippines GDP advanced 1.1 percent in the third quarter of 2015, down from an upwardly revised 2.0 percent expansion reported in April to June and below market expectations. While the agriculture sector further contracted, growth in the services and industry sectors slowed. GDP Growth Rate in Philippines...
Words: 6401 - Pages: 26
...to be the bank of choice, known for financial strength and superior delivery of innovative products and services, driven towards total customer satisfaction. Mission We shall be guided by our chosen corporate values of Commitment, Integrity, Excellence, Leadership and Teamwork in: * developing long-term partnership with clients through the delivery of responsive, innovative, and value added products and services; * providing delivery channels that are relevant to our market to ensure convenience and increase the bank’s accessibility; * creating dynamic and meritocratic employee work environment and foster mutual respect, provides professional and personal growth and encourages creativity; * dealing fairly with business partners; and * ensuring optimum returns for our stock holders. II. Nature of Business Asia United Bank Corporation (AUB) is among the very few commercial banks that was granted a full-branch license in 1997 and is operating until this day. AUB was registered with the Securities and Exchange Commission (SEC) on October 3, 1997. Its registered office and principal executive offices are located at Joy-Nostalg Center, 17 ADB Avenue, Ortigas Center, Pasig City, Philippines. AUB was granted the authority to operate as a commercial bank under the Monetary Board (MB) Resolution No. 1149 dated September 3, 1997 and commenced operations on October 31, 1997. In 2012, it obtained approval from the Bangko Sentral ng Pilipinas...
Words: 1838 - Pages: 8
...Consultative Group to Assist the Poorest (CGAP) Working Group on Savings Mobilization RURAL BANK OF PANABO (RBP), PHILIPPINES (CASE STUDY) Ulrich Wehnert Eschborn, 1999 CGAP Working Group on Savings Mobilization CONTENTS ABBREVIATIONS LIST OF TABLES AND GRAPHS 1 CONTEXT 1.1 1.2 Macroeconomic context iv v 1 1 Context of the financial sector 1 1.2.1 Role of the central bank 1 1.2.2 Regulation and supervision 2 1.2.3 General development and characteristics of the financial sector 3 1.2.4 The impact of the Asian financial and economic crisis on the financial sector4 1.2.5 Outreach and characteristics of state interventions 4 1.2.6 Social security system 5 Social and socio-cultural context Classification of the macroeconomic, financial and socio-cultural context 5 6 7 7 8 8 9 11 11 11 12 1.3 1.4 2 INSTITUTIONAL ANALYSIS 2.1 2.2 General characteristics of the Rural Bank of Panabo Institutional type, governance and organizational structure 2.2.1 Institutional type and governance 2.2.2 Organizational structure 2.2.3 Lessons learned in institutional type, governance and organizational structure 2.2.3.1 Success factors 2.2.3.2 Limitations and risks 2.2.3.3 Possibilities of replication 2.3 Demand-oriented savings products and technologies 12 2.3.1 Characteristics of demand-oriented savings products and savings technologies 12 2.3.2 Design of demand-oriented savings products 13 2.3.3 Procedures to introduce demand-oriented savings products 13 2.3.4 Lessons learned...
Words: 16444 - Pages: 66
...ALLOYON let me extend our over whelming thanks giving and our deepest gratitude and appreciation. I would like also to express my gratitude towards to my parents who gave us a support, of giving us money to work on this assignment. Let me give my greatest and deepest gratitude to all of my Classmates, Sir, Ma’am, thank you very much. INTRODUCTION Why do we need to borrow money? There a numerous reasons for the borrowing of money but common ones are; home loans, purchasing of cars, insurance, purchasing of business companies etc. People borrow money in general because they either can’t afford something or they have no money in cash, so they borrow from the bank, the disadvantage however is that you have to pay it back, and what people don't realize is that the bank adds interest to the overall payment if you pay it over a period of time which is not in the month requested by the...
Words: 5047 - Pages: 21