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Union Bank of the Philippines (UnionBank) posted a net income of Php1.5 billion for the first three months of 2014, 61% lower than the Php4.0 billion earned a year ago,largely on account of the exceptionally high trading gains in the same quarter last year. Net interest income improved by 25% to Php2.6 billion, on the back of the 43% expansion in average levels of earning assets coupled with the continuous reduction in average funding costs.  Service charges, fees and commissions similarly increased by 73% to Php0.9 billion, driven primarily by the strong loan releases of the newly acquired CitySavings Bank. read more
For the fifth consecutive year, Union Bank of the Philippines (UnionBank) registered a record-high net income of Php9.0 billion in 2013, 19% higher than the Php7.6 billion earned the previous year. Net interest income surged by 22% to Php8.9 billion underpinned by the robust expansion of earning assets. Similarly, other income rose by 17% to Php12.6 billion principally due to the surge in service charges, fees and commissions attributed to loan bookings of CitySavings. read more
Union Bank of the Philippines (UnionBank) issued today its debut offering of Long-Term Negotiable Certificates of Deposits (LTNCDs) in local currency, raising a total of Php3.0 billion. The fixed rate LTNCDs carry a coupon of 3.50% per annum, which is payable quarterly beginning January 18, 2014. The maturity date of the LTNCDs is on April 17, 2019. The net proceeds of the issuance will be utilized to improve the Bank’s deposit maturity profile and support business expansion plans. read more
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July 17, 2014

USD/PHP traded lower after a one day trading suspension due to the devastation brought about by typhoon Glenda to the country. Today’s movement was a result of mixed reactions from Fed Chair Janet Yellen’s testimony before congress. She expressed optimism in the US economy saying that growth is picking up and that they have sufficient growth to support continued improvement in the labor market. Regionals (PHP, MYR and KRW) rallied against the USD while the majors (EUR, GBP, NZD) were hammered.


BUYING: 43.050 | SELLING: 43.700
July 22, 2014

Philippine Peso Fixed Income 2014-07-21
242.117718 0.320000% -0.060000%
Dollar Bond 2014-07-21
1.965793 3.080000% 4.410000%
Peso Balanced Fund 2014-07-21
151.282056 10.850000% 8.680000%
Large Cap 2014-07-21
754.307913 14.110000% 9.000000%
Peso Short Term Fixed Income 2014-07-21
130.431385 0.200000% 0.320000%
Long Term Fixed Income 2014-07-21
125.463256 -1.230000% -2.600000%
Intermediate Term Fixed Income 2014-07-21
151.653083 0.540000% 0.930000%
Infinity Prime 2014-07-21
150.533696 0.400000% 0.330000%
Tax Exempt 2014-07-21
171.875966 1.020000% 1.730000%
Dividend Play Equity 2014-07-21
99.688433 -0.310000% -0.310000%
Philippine Equity Index Tracker Fund 2014-07-21
100.945756 0.950000% 0.950000%

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