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Top related persons:
Ferdinand Marcos Jr - 1 Marcos - 1 helms - 1 Michael Ricafort - 1 Enrico dela Cruz - 1 Eloisa Lopez - 1 Bernadette Baum - 1 Mark Potter - 1
Top related locs:
MANILA Philippines Philippine Rizal China Manila United States
Top related orgs:
Rizal Commercial Banking Corp - 1 Asia's - 1 Thomson - 1

Search resuls for: "Rizal Commercial Banking Corp"


4 mentions found


☆ Philippines' Marcos touts economic successes, but challenges lie ahead
  + stars: | 2023-07-25 | by ( Karen Lema Neil Jerome Morales | Karen Lema | Neil Jerome Morales | ) www.reuters.com   time to read: +4 min
MANILA, July 24 (Reuters) - Philippines President Ferdinand Marcos Jr on Monday touted his administration's successes over the past year, including battling inflation and steering the economy back on track, but said a number of economic challenges lie ahead. After more than a year in office, buffeted by soaring inflation that has dented economic growth, the government is now "stabilising the prices of all critical commodities", Marcos said. "Inflation rate is moving in the right direction," he said in his second state of the nation address. Developing the long-neglected farm sector, which contributes 10% of the country's economic output, is a priority for Marcos, who also helms the agriculture ministry. The Philippines remains vulnerable to global price shocks because it buys a sizeable portion of its rice overseas, and relies on imports for most of its fuel requirements.
Persons: Ferdinand Marcos Jr, Marcos, helms, Michael Ricafort, Enrico dela Cruz, Eloisa Lopez, Bernadette Baum, Mark Potter Organizations: Rizal Commercial Banking Corp, Asia's, Thomson Locations: MANILA, Philippines, Philippine, Rizal, China, Manila, United States
☆ Philippine bank at centre of cyber heist appeals New York court loss to Bangladesh
  + stars: | 2023-01-20 | by ( Industry Insight | Law Firm Pricing Professionals In | Examining Compensation | ) www.reuters.com   time to read: +2 min
Bangladesh Bank has accused RCBC and several others, including top executives, of conspiring to steal its money. The New York Supreme Court ruled on Jan. 13 that, contrary to Rizal bank's argument, it does have jurisdiction over the case, and dismissed Rizal bank's motion against Bangladesh Bank. In the same ruling, the court ordered the Bangladesh central bank and RCRC to initiate mediation. In response to the ruling, Rizal bank said it would continue to fight the case. Bangladesh Bank has welcomed the court ruling, saying in a statement this week that it clears the way for the matter to progress in court in New York as needed.
☆ Japan's Mitsubishi UFJ to buy two Asia units of Home Credit for $620 mln
  + stars: | 2022-11-24 | by ( Makiko Yamazaki | Hadeel Al Sayegh | ) www.reuters.com   time to read: +2 min
TOKYO, Nov 24 (Reuters) - Japan's Mitsubishi UFJ Financial Group Inc (8306.T) said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit BV (HC) for about 596 million euros ($621 million). The acquisitions will be made through main Mitsubishi UFJ banking arm MUFG Bank, Thai unit Bank of Ayudhya PCL (BAY) (BAY.BK), and Indonesian unit Adira Dinamika Multi Finance (ADMF), with the deal to be completed within 2023, the company said. PPF, which had been looking at selling or taking on partners in some markets for the HC business, said in a statement it was the right time to pass the baton. A Mitsubishi UFJ executive said in a briefing that the lender would explore further acquisition opportunities in Southeast Asia. MUFG Bank will hold 25% of HC Philippines, and ADMF will hold 10% of HC Indonesia shares.
☆ Japan's Mitsubishi UFJ to buy two Asia units of Home Credit for $596 mln
  + stars: | 2022-11-24 | by ( Makiko Yamazaki | ) www.reuters.com   time to read: +2 min
TOKYO, Nov 24 (Reuters) - Japan's Mitsubishi UFJ Financial Group Inc (8306.T) said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit Group BV for about 596 million euros ($621 million). The acquisitions will be made through Japanese unit MUFG Bank, Thai unit Bank of Ayudhya PCL (BAY) (BAY.BK), and Indonesian unit Adira Dinamika Multi Finance (ADMF), with the deal to be completed within 2023, the company said. Home Credit (HC) is controlled by the Czech Republic's biggest investment group, PPF, which was founded by late billionaire Petr Kellner. read moreAfter the completion of the deal, Bank of Ayudhya will hold 75% of the shares of HC Philippines and 75% of the shares of HC Indonesia. MUFG Bank will hold 25% of HC Philippines, and ADMF will hold 10% of HC Indonesia shares.
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