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August 29, 2015 4:42 AM 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, Enterprise Banking, Treasury, Convenience Banking, 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, personal loans, and SME loans. The company also provides investment and wealth management products, such as trust pr...

PBCom Tower

6795 Ayala Avenue corner V. A. Rufino Street

Makati City,  1226

Philippines

Founded in 1939

1,544 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

The Philippine Bank of Communications Appoints Eriberto Ltiis S. Elizaga as Executive Vice President of Corporate and Commercial Banking Group, Effective on 14 September 2015

The Philippine Bank of Communications (the Bank) at its regular meeting of its Board of Directors held August 26, 2015, confirmed the approval of the Governance Committee on the hiring of Mr. Eriberto Ltiis S. Elizaga as Executive Vice President of Corporate and Commercial Banking Group, effective on 14 September 2015.

The Philippine Bank of Communications Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

The Philippine Bank of Communications reported earnings results for the second quarter and six months ended June 30, 2015. The bank said its net income stood at PHP 65.967 million in the three months ended June versus the PHP 153.057 million it booked in the same period last year. Net interest income came in at PHP 582.577 million versus the previous year's PHP 414.438 million, while total operating income was at PHP 900.976 million, also up from the prior year's PHP 602.084 million. The bank reported operating revenue of PHP 828.0 million compared to PHP 645.0 million, net income before tax of PHP 153.1 million compared to PHP 186.2 million, net income attributable to parent equity holder of PHP 17.7 million or PHP 0.22 per basic and diluted share compared to PHP 37.4 million or PHP 0.52 per basic and diluted share for the last year. The second-quarter decline dragged on the bank's profit for the first half, which came in at PHP 83.524 million, down from the PHP 190.434 million it booked in the same period in 2014. The bank noted that while its operating income improved to PHP 1.736 billion from PHP 1.371 billion the year prior as a result of higher rental income and service charges in fees, this increase was likewise offset by the significant decline in trading and securities gains, driven by current market conditions and lower foreign exchange revaluation. The bank's profit in the first half translated to a 2.3% return on equity or the net income earned as a percentage of stockholder investment - a key measure of performance, while return on assets stood at 0.23%. The bank reported operating revenue of PHP 1,655.2 million compared to PHP 1,427.3 million, net income before tax of PHP 215.5 million compared to PHP 298.2 million, net income attributable to parent equity holder of PHP 83.8 million or PHP 0.28 per basic and diluted share compared to PHP 190.4 million or PHP 0.64 per basic and diluted share for the last year.

Philippine Bank of Communications Announces Management Changes, Effective from June 1, 2015

Philippine Bank of Communications announced the resignation of Henry Y. Uy as Director/Acting President, effective June 1, 2015. The company announced the appointment of Patricia May T. Siy as Director, President & CEO, effective June 1, 2015.

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