Published March 8, 2021, 4:55 PM
Robinsons Bank Corporation, a member of the Gokongwei group of companies, has received a PRS Aa (corp.) issuer credit rating in relation to its outstanding Fixed-Rate bond issue of P5.0 billion due in November 2021.
Philippine Rating Services Corporation (PhilRatings) said it has also assigned an issue credit rating of PRS Aa for the bank’s outstanding P5.0 billion bonds due on August 13, 2021.
The ratings firm said an issuer credit rating of PRS Aa (corp.) differs from the highest rated corporates only to a small degree and has a strong capacity to meet its financial commitments relative to that of other Philippine corporates.
To help the millions of Filipinos who are sending and receiving remittances in the Philippines, Robinsons Bank has introduced its new service, the RBANK REMIT.
RBANK REMIT promises an easy, fast, and reliable remittance service that can be accessed through the RBank Digital Online Banking via m
Researcher
THE COUNTRYâS biggest banks lent less to households and firms in the fourth quarter of 2020, as profits fell and soured loans increased amid the coronavirus pandemic.
The latest edition of
BusinessWorldâs quarterly banking report showed the aggregate loans of 46 universal and commercial banks (U/KBs) contracted by 3.96% year on year to P9.582 trillion in the fourth quarter, more than the 0.74% decline in the preceding quarter, as banks remained risk averse.
The latest reading was the largest since the fourth quarter of 2003 when loans lent by U/KBs went down by 4.17%. Moreover, this was only the second decline in almost 11 years following the slump in the previous quarter.
By TED CORDERO, GMA News
Published February 23, 2021 11:26am Gokongwei-led conglomerate JG Summit Holdings Inc. has acquired a stake in South Africa-based digital bank Tyme, which is eyeing markets in developing economies particularly in Southeast Asia. In a disclosure to the Philippine Stock Exchange on Tuesday, JG Summit said it has taken part in an estimated P5.3-billion or $110-million investment in Tyme, along with Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, and South African investment holdings company African Rainbow Capital (ARC). Tyme, whose international management arm, TymeGlobal, is headquartered in Singapore, is considered as one of the world’s leading digital banking networks for emerging markets and is majority owned by ARC.
February 12, 2021 | 12:04 am Font Size
AAA
ROBINSONS BANK Corp. and Pru Life UK have renewed their bancassurance partnership amid an increase in demand for insurance products due to the coronavirus pandemic.
The bancassurance product called IPONsurance has been available to clients of the lender since the two firms inked their partnership in 2018.
“I don’t have the exact number but total balance in the product, it’s already at P500 million. That’s the take-up,” Robinsons Bank President and Chief Executive Officer Elfren Antonio S. Sarte said during the virtual signing ceremony on Thursday.
“For another three years, this alliance will benefit Robinson Bank’s customers by providing them with easy access to Pru Life UK’s solutions that meet their growing protection needs,” Pru Life UK President and CEO Antonio G. de Rosas said.