Portfolio
BPI best Phl bank in risk management
Bank of the Philippine Islands (BPI) has gained the Asia Risk Awards 2014 “House of the Year” for the Philippines, the first-ever bestowed on a Philippine bank. BPI joins an esteemed roster of global banks and financial institutions such as Hong Kong and Shanghai Banking Corp. (HSBC, Hong Kong), Development Bank of Singapore (DBS, Singapore), and Commerce International Merchant Bankers (CIMB, Malaysia) in receiving their respective “House of the Year” awards. The Asia Risk magazine group and the Risk Journals are published by Risk.net, and focus on the international financial risk management sector. It was the first time in 19 years of giving out awards that the media firm gave a “House of the Year” citation for the Philippines. BPI’s proactive approach in enterprise and financial risk management, which entails a strong top-down risk management culture, competent risk management leaders, well-defined risk appetite and metrics, and robust models and systems, are the key elements to the bank’s capability to face both global and local market challenges and its thrust to be at the forefront of ethical, prudent, and proactive enterprise risk management best practices in the country. BPI’s Basel III capital adequacy ratio currently stands at above 15 percent.
Security Bank bags corporate governance awards
Corporate Governance Asia has recognized Security Bank Corp. with two key awards during The Best of Asia 2014 awards night held last month at the Renaissance Harbour View Hotel, Wanchai, Hong Kong. During the 10th Corporate Governance Asia Recognition Award 2014, Security Bank was awarded as Icon on Corporate Governance. This distinction – the highest accolade given by the award-giving body – is bestowed to companies who have consistently made it to the honor roll of the annual awards for Excellence in Corporate Governance. For the past four years, Security Bank has consecutively won the much-coveted distinction, which belongs to “the best of the best in corporate governance in Asia as they uphold the highest standards in business practices.” Likewise, Security Bank chairman Frederick Y. Dy was recognized as Asian Corporate Director of the Year. The award honors outstanding corporate directors from boards of public and private companies in Asia who have guided their boards and executive management in growing their businesses, maintaining ethics and steering their companies to periods of extraordinary growth. For the past 11 years, Corporate Governance Asia has recognized companies in the region who continue to lead the way in initiating best practices. It provides news and analyses on corporate governance issues, boardroom practices and shareholder activism.
Maybank operates only 24/7 branch
Maybank Philippines Inc. (Maybank Phils.) has transformed the ResortsWorld branch into the first and only 24hour bank branch in the country to provide better service to customers. From its current extended banking hours of 8 a.m. to 11 p.m., the branch now operates 24 hours a day and seven days a week to primarily cater to the needs and financial requirements of business establishments and retail customers in the area. Maybank Phils. president and chief executive officer Herminio M. Famatigan Jr. Inter- branch transactions would be entertained and accommodated from 8 a.m. to 10 p.m. From 10 p.m. to 8 a.m., services of the Maybank Resorts World branch will be exclusive for the branch’s accountholders. Maybank Phl operates 79 branches nationwide, 30 of which are located in Metro Manila.
PNB Life unveils new fund
PNB Life Insurance Inc. has recently launched the Peso Optimized Dividend Equity Fund (PODEF), a fund that invests in a basket of 20 companies listed on the Philippine Stock Exchange (PSE) with a history of high dividend yields while remaining liquid and actively traded. The basket composition includes the major companies engaged in energy, mining, utilities, financial services, realty, food, and telecommunications. PODEF is appropriate to investors who recognize the potential of high yields from the stock market investments while being comfortable with the corresponding risk. Since its launch in September, the net asset value per unit (NAVPU) of PODEF has grown by 2.5 percent. PNB Life president Esther Tan said that having PNB as fund manager for this special fund is a logical and preferred choice proving it can strategically meld together the financial strength of the two companies. PNB Life is the life insurance arm of the Philippine National Bank (PNB) and the Lucio Tan Group of Companies. More conservative investors can also consider allocating some of their premiums to PNB Life’s other unit linked (VUL) funds such as the Peso Fixed Income, Peso Balanced Fund, or the Peso Money Market Fund.
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