BDO advances ranking in Top 1000 World Banks

March 20, 2019

BDO UNIBANK further advanced its rank in the list of the Top 1000 World Banks, according to the London-based financial publication The Banker.       In a statement, The Banker said BDO placed 235th in 2018, up 32 notches from the previous year’s standing of 267th. The same list also showed BDO as the Philippines’ frontrunner in terms of Tier-1 capital, assets, and robust earnings.      BDO posted a record net income of P32.7 billion in 2018 from P28.1 billion in 2017, representing a 17 percent growth and beating its P31 billion full-year guidance on strong recurring earnings from its core businesses. It likewise garnered another milestone as the first Philippine bank to breach the P3 trillion mark in total assets.         The Top 1000 World Banks ranking has been setting the industry benchmark since the 1970s, providing comprehensive intelligence about the health and wealth of the global banking sector. It allows investors and clients all over the world to evaluate the strength and weakness of the banks, identify banking partners for the future, and track the big movers and new arrivals in the sector.       Established in 1926, The Banker is among the several international publications that consistently recognizes BDO’s strong performance in the local banking sector.

Economics prof holds Oro lecture to promote book

March 15, 2019

AYALA Corporation and the University of the Philippines (UP) School of Economics in cooperation with the Ayala Business Club of Cagayan de Oro held a regional roadshow in Cagayan de Oro City last Friday (March 15) at Seda Centrio to share the strategic research paper entitled Towards Inclusive Capitalism in the Philippines by Dr. Raul Fabella, National Scientist and professor emeritus of the UP School of Economics. Fabella in his paper dispels the notion that capitalism is necessarily anti-poor particularly citing as examples the remarkable achievements of China in reducing poverty and fostering greater social inclusion following its adoption of market-oriented reforms and the integration of pro-poor services in the normal business operations of big conglomerates. In the Philippine context, he underscored how conglomerates have also contributed to improve social provision and inclusion in various fields such as telecom, water provision, tertiary education and through corporate social responsibility (CSR) initiatives. He contended that even as the country is hampered by weak institutions, the private sector – by widening its sphere of operations to include activities that were hitherto traditional public services – is able to help improve social welfare and promote greater social coherence in the Philippines. This is especially important in light of the Philippines’ unusual development path which he called “development progeria” characterized by growth dynamics (largely observed in industrial economies) which have been mainly service sector-led resulting in less inclusive outcomes than with growth trajectories that are manufacturing-led. He believed that such a development path per se would be unsustainable unless more inclusive outcomes are achieved by exploring opportunities for greater private-public sector cooperation. PR

Smart partners with Nokia for 5G deployment in schools

March 14, 2019

MANILA -- PLDT wireless unit Smart Communications has partnered with Nokia for the deployment of fifth generation (5G) technology and services in schools across the country.      Both companies have signed a memorandum of understanding (MOU) for the development of 5G standalone (5G SA) solutions such as artificial intelligence, drones and Internet of Things applications for use in colleges and universities.      “We are happy to partner with Nokia to help develop intelligent solutions and technologies for the benefit of the Philippine education sector,” PLDT-Smart Chairman and Chief Executive Officer Manuel V. Pangilinan said during its signing held in Makati City on Tuesday night.      The MOU covers the rollout of 5G SA technologies and innovative products such as 5G handsets and applications.      The technology solely depends on the 5G network for data transmission and enables the schools, businesses and other organizations to utilize the full benefit of its capabilities. On the other hand, 5G non-standalone (NSA) combines the use of 5G and existing 4G/LTE resources to transmit data.      “5G SA enables introduction of services like real-time remote control of robotics and autonomous driving of transport vehicles in the areas of Industrial Revolution 4.0 with new technologies like Network Slicing and Ultra Reliable and Low Latency Communications,” according to Nokia head for Asia Pacific and Japan Jae Won.      The company intends to spend a significant portion of its capital expenditures (capex) this year for the rollout of its 5G network.      “5G offers great opportunities for telcos to generate new forms of revenues,” Pangilinan said.      “We have announced a historic high capex this year that may be utilized as expenditures for 5G. There will be a continuous rollout of cell sites and base stations with 5G within the next few years” he added.      PLDT has allocated a capex of PHP78.4 billion this year for the rollout of its fiber broadband service in line with the expansion of its mobile network by providing high-capacity links for cellular base stations.      The firm will likewise continue to establish partnerships with technology providers that have the capacity to build a 5G network and the resources to offer a wide range of services to various industries in the country      Its wireless unit Smart has activated its first 5G cell sites last November at its headquarters in Makati City with technology partner Huawei Technologies and in Clark with Ericsson. (PNA)

Win P300k shopping spree, P1M journey when you deposit in Maybank

February 27, 2019

Would you like to go on a trip to the US worth P1million or any other destination in the world? Or how about spending P300,000 in a shopping spree in any place or shop of your preference? “Maybank clients can experience these adventures of a lifetime with the iSave. iShop. iFly Promo. By simply turning deposits into a chance to win wonderful adventures, saving becomes delightful,” said Donna Michelle Barroga, Head of Marketing of Maybank Philippines. In addition, she said, winners of the iSave.iShop.iFly promo can customize how they want to enjoy their prize, giving them the flexibility to create their own travel or shopping package. All these are made possible simply by opening an iSave account. All Maybank iSave Accounts will earn one raffle entry for every Php 10,000 month-to-date average daily balance maintained in their accounts from February 1 to July 31, 2019. They will be automatically registered for the draw and will be informed through SMS. All iSave Accounts will continue to earn raffle entries until the end of the promo, Barroga said. There will be three preliminary draws with three winners each of a shopping spree worth Php 300,000, Php 200,000, and Php 100,000, and there will be one (1) grand draw winner who will win a trip to the U.S.A. or any preferred destination worth Php 1,000,000, TAX FREE.  iSave depositors can join in all raffle draws, but can only win once per draw.   Vincent Dexter Go, Head of Virtual Banking of Maybank, explained “Opening an iSave savings account in the Maybank2U PH app makes it easier for every Filipino to get a bank account.”  iSave as an online only savings account that can be applied through the Maybank2U PH App. The Maybank account is convenient and hassle-free because one can open it without going to a branch.   Moreover, the account is affordable. Go explained that there is no initial deposit and zero maintaining balance. The client earns interest of 0.25% per annum at PHP 20,000 balance. He or she can withdraw from any BancNet ATM in the Philippines for free.  The account is accessible via any Maybank ATM in Malaysia, Singapore, and Cambodia with no charge and can enjoy better conversion rates. It comes with an EMV Enabled ATM, thus very secure. The client enjoys banking transactions online via the Maybank2U PH App. So iSave now and get to create delightful memories with Maybank.  

PAL to undergo system upgrade in March

February 25, 2019

MANILA -- Flag carrier Philippine Airlines (PAL) announced Friday it will undergo a system upgrade by March, in a bid to achieve its goal of being a five-star carrier.  In its official social media account, PAL announced that it would upgrade its system to Amadeus Altea to provide passengers faster and more convenient transactions.  In March 2018, PAL signed a partnership with Altea Suite, a passenger service system that streamlines air travel processes, such as reservation, flight management, departure control, among others.  Having this airline IT system, according to PAL, would enhance the online check-in processes, make booking experience easier, and make other transactions faster and seamless. PAL earlier said it needs the necessary technology to help the carrier achieve its five-star goal.  In 2018, PAL received a four-star rating from Skytrax, an international air transport rating organization. The rating was based on the carrier’s in-flight and on-ground services. (PNA)

GCash chief marketing officer bags 14th Mansmith YMMA Award

February 15, 2019

THE annual Mansmith Young Marketing Masters Award (YMMA) was held on February 12, 2019 at the Carlos P. Romulo Auditorium, RCBC Plaza. The Mansmith YMMA is a prestigious awarding body which has started over a decade to give recognition to young branding professionals who continuously excel in their craft.  At the heart of  the award is the commitment to inspire marketing professionals even at their young age in aspiring to build their brands through innovation. The award targets practitioners in the field of sales, marketing, entrepreneurship and the like who have shown their expertise and creativity in delivering worthy messages and products to the public at the early years of their career.  YMMA recipients are deemed to have conceived revolutionary strategies in their fields which has created impact to the business environment of their industries. Being a recipient of this award tags the professional and the brand he carries a believer of innovation as an integral part in doing business.  Among the recipients of the YMMA is GCash’s  very own Chris Manguera, Chief Marketing Officer and Head of Growth. In effect of his function he was able to ponder on the challenges of creating brand identity for a newly emerging product, GCash, the country’s leading mobile payment App. The campaigns and marketing strategies GCash has launched were deemed to be effective, refreshing, and innovative to the industry where he belongs. Bearing in mind that fintech is a newly emerging business venture, GCash has maximized the arena of the digitized era. Among the remarkable campaigns  launched were the Shake Shake campaign where he put an interactive twist in using the GCash App during the holiday season in 2018. GCash launched the technology enabling subscribers to use the App through the Messenger App, an inclusive way of reaching most of the Filipinos given that almost half of the FIlipino population are on the Facebook network.  Under his CMO-ship GCash was able to craft marketing strategies which have been effectively translated into models and campaigns that has put forward the cause of GCash’s existence, inclusivity through fast, secure, and convenient cashless transaction.  The achievement of GCash’s CMO is also a breakthrough in the fintech industry. Being the only recipient of the award from fintech, this recognition has opened the gates for the industry to strive and deliver products and services to the public in a more creative, innovative, and relevant manner. A competitive set of standard in communicating to every Filipino what the industry can offer to them as their partner in their daily financial needs and how fintech can advocate for financial inclusion to the nation.


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