September 26, 2016 5:42 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 operates through Branch Banking Group, Corporate Banking Group, Treasury, Consumer Finance, and Trust and Wealth Management 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 loans, specialized lending programs, export packing credit loans, trust receipt financing, consumer lending, and guarantee programs, as well as auto, home, personal, and SME loans. The company also provides investment and wealth management products, such as ...

PBCom Tower

6795 Ayala Avenue corner V. A. Rufino Street

Makati,  1226

Philippines

Founded in 1939

1,243 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

Philippine Bank of Communications Announces Earnings Results for the Second Quarter of 2016

Philippine Bank of Communications announced earnings results for the second quarter of 2016. For the quarter, the company reported interest income of PHP 914 million compared to PHP 828 million a year ago. Net interest income was PHP 634 million compared to PHP 583 million a year ago. Net income was PHP 30 million compared to PHP 66 million a year ago.

Philippine Bank of Communications Announces Unaudited Consolidated Earnings Results for the First Half of 2016

Philippine Bank of Communications announced unaudited consolidated earnings results for the first half of 2016. For the period, the company posted an operating income of PHP 1.8 billion on the back of higher income from recurring business activities. Net interest income improved to PHP 1.2 billion or 6.3% higher compared to last year as the bank expanded its Securities and Loan portfolios by PHP 5.2 billion and PHP 4.8 billion, respectively. Income from trading activities grew to PHP 62.1 million, a 538.8% increase from a loss of PHP 14.2 million during the first half of 2015. The Bank's financial performance in the first six months of 2015 contains a PHP 94.6 million in Fair Value Gain under other income and its corresponding deferred tax provision of PHP 28.4 Million. Excluding these two items, operating income would have improved by 7.0% or PHP 114.2 million and net income by PHP 40.6 million or 235.0% growth in the first half of 2016. The company posted a PHP 57.871 million net income in the first half of the year on the back of higher income from recurring business activities. The bank’s second quarter consolidated unaudited net income stood at PHP 29.807 million, also down from the PHP 65.967 million seen in the same period last year. Net interest income came in at PHP 634.178 million from PHP 582.577 million a year ago.

Philippine Bank of Communications Approves Amendment of its Articles of Incorporation and By-Laws to Specify Complete Principal Office Address of the Bank

Philippine Bank of Communications approved the amendment of the Articles of Incorporation and By-Laws to specify complete principal office address of the Bank in annual meeting of the stockholders held on June 14, 2016.

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Recent Private Companies Transactions

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