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BPI Housing Loan – special rates promo

I’m currently browsing the web and talking to various bank managers to get more information necessary to update our 2011 article on Housing Loan interest rates in the Philippines. I want to come up with a comprehensive list of interest rates for housing loans in the Philippines for the year 2012.

Since I don’t have the complete information yet, I’ll just post what I got from each individual bank regarding their housing loan offerings. I was recently informed by a branch manager of the Bank of the Philippine Islands (BPI) that they are offering low interest rates in celebration of the bank’s 161st anniversary. Here are the details.

2012 PSE index (PSEi): Cebu Pacific out, Petron in

Those holding Cebu Pacific (CEB) stocks are probably wondering what’s causing the stock to plummet during the past trading days. In just one week, the stock price of budget airline Cebu Pacific has declined by 9.3%, closing at P61.40 in last Friday’s (August 24) trading.

It’s actually been a losing battle for CEB stockholders since the company’s hyped initial public offering (IPO) in 2010. On its first trading day on the Philippine Stock Exchange (PSE) in October 2010, Cebu Pacific rose to P133.00 from its IPO price of P125.00. Unfortunately, the stock has not recovered from that all-time high price. It even ended the year 2011 at half the price, closing at P64.80 on the last trading day.

Paypal fees when withdrawing to BPI, BDO, Unionbank accounts

When withdrawing funds to a Philippine bank account, there is NO CHARGE if the amount withdrawn is at least P7,000.00.You therefore save on fees if you withdraw P7,000.00 or more.

If withdrawing less than P7,000.00, Paypal charges P50.00 per transaction.

Catholic Church has billions invested in BPI, Philex, San Miguel

For most of us, it’s a given that the Catholic Church is rich. Obvious proof of that are their sprawling acres of land, large Church-owned structures and buildings, and millions of pesos of cash collected from mass goers every week.

What a lot of people do not know, though, is that part of the Church’s wealth is its multi-billion peso investments in several Philippine companies. In fact, reports submitted to the Philippine Stock Exchange (PSE) show that the Church and affiliate Catholic groups are top stockholders in companies such as the Bank of the Philippine Islands (BPI), Philex Mining Corporation (PX), San Miguel Corporation (SMC), Ayala Corporation (AC), and Phinma Corporation (PHN), among others.

Philippine Church invested in banks, mining, construction, etc.

The Roman Catholic Archbishop of Manila, for example, owns more than 300 million shares of BPI and is the bank’s 4th largest owner.

How much are these shares worth? As of May 2011, this is valued at more than P17 billion. Yes, that’s seventeen billion pesos, with a B.

Franchising: a great wealth-builder

More and more Filipinos are turning to entrepreneurship to grow their wealth. According to the Philippine Franchise Association (PFA), the franchise industry has shown an outstanding growth—from 50 franchises in the 1990s to over a thousand today.

Different Cash and Credit Card prices not allowed

Be informed: it is unlawful to charge or be charged two prices — a Cash Price and a Credit Card Price — for the same product.

Department of Trade and Industry (DTI) Undersecretary Zenaida Maglaya, in an interview with ABS-CBN’s Mornings@ANC, issued a reminder to establishments that the law forbids the imposition of additional charges on items purchased through credit cards.

Based on Article 81 of Republic Act 7394 (“Consumer Act of the Philippines”), goods and services must not be sold at a higher price that what is stated and without discrimination to all buyers.

Salaries of top execs in BDO, BPI, UnionBank, other Philippine banks

Among publicly-listed Philippine banks, top executives of UnionBank of the Philippines (UBP) received the highest salary and bonuses in 2009, while top executives of Banco de Oro (BDO) and Bank of the Philippine Islands (BPI) follow next.

This is based on an analysis of annual reports for the year 2009 submitted by local banks to the Philippine Stock Exchange (PSE). The reports do not show the individual salaries and bonuses of each executive, but presents the lumped compensation of the banks’ top officials. The number of executives receiving the compensation was shown, thus, the average figure was derived.

UnionBank’s top 5 execs each receive P21.28 million compensation

An analysis of executive compensation shows that on average, the salary of the top 5 officers of UnionBank of the Philippines (UBP) was P17.03 million each, plus additional compensation and bonuses of P4.3 million each — for a total of P21.28 million compensation for each of the top 5 executives in 2009.

Largest Banks in the Philippines (2009)

Last year, we posted a list of the Top 10 Banks in the Philippines, based on total assets and deposits at year-end 2008. We now bring you the list of the Largest Banks in the Philippines, in terms of assets, deposits, and net income, as of year-end 2009.

The list only includes banks headquartered in the Philippines, meaning other banks based in another country but with local operations are not analyzed. Also, since the basis of the financial figures are the financial statements submitted to the Philippine Stock Exchange (PSE), only publicly-listed banks are mentioned. Government- and privately-owned banks whose financial statements are not available to the public are excluded in the list.