News Archive

PBCom net income improves 16%
Malaya, February 1, 2012
PHILIPPINE Bank of Communication posted a net income of P818 million, a 16 percent increase from the P701 million for the same period last year.   The bank attributes its growth to the improvement of its operating costs.   Total operating expense improved from P1.621 billion...  read more
FX trading gains buoy PBCom net income
BusinessWorld Online, January 31, 2012
PHILIPPINE BANK of Communications (PBCom) profits grew by nearly 17% last year, supported partly by a turnaround from foreign exchange losses and a rise in income from trust operations.   In a statement of income furnished to the stock exchange yesterday, the bank said it booked P818.85...  read more
PBCom to hike capital to P27b, cut par value
Roderick T. dela Cruz, Manila Standard Today, January 27, 2012
Philippine Bank of Communications, a commercial bank recently acquired by the Ongpin group, plans to increase its authorized capital by P9.5 billion as a part of the reorganization of its capital structure.   The bank’s board of directors agreed to declassify the existing common and...  read more
Ongpin group takes over PBCom
Philippine Daily Inquirer, December 23, 2011
MANILA, Philippines—A group led by Marcos-era Trade Minister Roberto V. Ongpin completed on Friday the acquisition of a 97-percent stake in Philippine Bank of Communications via special block transactions at the local stock exchange worth P4.7 billion.   According to a memorandum...  read more
Ongpin group completes acquisition of PBCom
Philippine Daily Inquirer, December 23, 2011
A group led by former Trade Minister Roberto V. Ongpin on Friday completed its acquisition of a 97-percent stake in Philippine Bank of Communications via special block transactions at the local stock exchange worth P4.7 billion.   Based on a memorandum posted by the Philippine Stock...  read more
Ongpin Completes Acquisition Of PBCom
Manila Bulletin, December 24, 2011
MANILA, Philippines — The Securities and Exchange Commission has exempted the group of Roberto V. Ongpin from making a tender offer to buy the stakes of minority shareholders of Philippine Bank of Communications (PBCom).   This comes after PBCom reported to the Philippine Stock...  read more
PBCom sale completed
Manila Standard Today, December 24, 2011
The group of companies controlled by investment banker Roberto Ongpn on Friday completed the purchase of Philippine Bank of Communications through the Philippine Stock Exchange.   Bank corporate information officer Rodolfo Ma. Ponferrada said a group of investors led by ISM...  read more
ISM Communications acquires PBCom
Business World, December 23, 2011
ONGPIN-led ISM Communications Corp. (ISM Communications) has completed the acquisition of a controlling stake in the Philippine Bank of Communications (PBCom).   In separate disclosures to the stock exchange on Friday, ISM and PBCom said: "...the transaction involving the acquisition by...  read more
Ongpin group acquires PBCom; BSP OKs deal
GMA News, November 16, 2011
The Bangko Sentral ng Pilipinas has approved Ongpin-led ISM Communications Corp.'s bid to buy troubled Philippine Bank of Communications (PBCom). In separate statements to the Philippine Stock Exchange Wednesday, PBCom and ISM said they received the BSP letter regarding the deal. In July, ISM...  read more
BSP OKs PBCom sale to Ongpin
Jennifer Ambanta Malaya, November 17, 2011
The Philippine Bank of Communications (PBCom) yesterday announced that it has received the approval of the Bangko Sentral ng Pilipinas (BSP) for the sale of its assets to ISM Communications Corp. (ISM).   BSP’s approval seals the memorandum of agreement signed last July by the three...  read more