BSP OKs new name of Premiere Dev't Bank
By Prinz Magtulis (The Philippine Star) Updated July 15, 2012 12:00 AM
Comments (0)
Manila, Philippines - All branches of Premiere Development Bank will now
be known as Security Bank Savings Corporation.
This was after the Bangko Sentral ng Pilipinas (BSP) approved last
Wednesday the change of corporate name of the thrift bank after it was
acquired by Security Banking Corp. June last year.
"The (BSP) has approved the change of corporate name of Premiere
Development Bank to 'Security Bank Savings Corporation' and adoption of
the following business names and styles: 'Security Bank Savings;
Security Savings Bank; and SBS Security Bank Savings," Circular Letter
No. 2012-051 posted on the BSP web site Friday stated.
"The (Premiere Development) Bank has registered with the Securities and
Exchange Commission its amended articles of incorporation and amended
by-laws bearing its new corporate and business names and styles on 14
June 2012," the circular added.
Premiere Bank has a total of 38 branches in Luzon, 21 of which is
located within Metro Manila, while the rest are spread out in the
provinces of Bulacan, Rizal, Laguna, Cavite and Batangas.
In a disclosure last June 25, 2011, listed Security Bank bought 98
percent of Premiere Development Bank for P1.3 billion to "expand its
branch network, build its loan portfolio and expand its customer base."
Last Jan. 20, the acquisition was approved by the BSP's policy-making
body, the Monetary Board, authorizing the transfer of voting shares
equivalent to 96.42 percent of the outstanding capital stock of Premiere
Development Bank in favor of Security Bank.
Before the acquisition, Security Bank had an estimated loan portfolio of
P3 billion from 20,000 customers. It also had P4.7 billion in deposits
from 37,000 depositors.
Listed Security Bank booked a total of P1.092 billion in net income in
the first quarter, up 8.2 percent from same period last year.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Sunday, July 15, 2012
Thursday, July 12, 2012
2 out of 3 Filipino families able to save 25% of income–NSCB report
2 out of 3 Filipino families able to save 25% of income–NSCB report
By: Ana G. Roa
Philippine Daily Inquirer
8:37 pm | Tuesday, July 10th, 2012
MANILA, Philippines — Two in three Filipino families were "savers"
between 2003 and 2009, keeping an average of P23 to P25 out of every
P100 they earned, a recent National Statistical Coordination Board
(NSCB) report showed.
The report also showed that female-headed households saved more than
male-headed ones.
The percentage of "savers" or families with income higher than
expenditure were 65.5 percent in 2003, 65.1 percent in 2006 and 65.9
percent in 2009.
The "non-savers" or families with savings less than or equal to zero
accounted for 34.5 percent in 2003, 34.9 percent in 2006 and 34.1
percent in 2009.
The latest Family Income and Expenditures Survey (FIES), which was used
as basis for the NSCB report was in 2009. The National Statistics Office
will conduct the next FIES survey in July 2012 and January of 2013,
with 2012 as reference year.
The report, written by former NSCB secretary general Romulo A. Virola,
NSCB director Jessamyn O. Encarnacion and NSCB statistical coordination
officer Mechelle M. Viernes, used data from the Family Income and
Expenditures Survey, which is conducted by the National Statistics
Office triennially.
The "savers" reported an average annual per capita savings of P10,693 in
2003, P11,982 in 2006 and P14,298 in 2009.
This would mean that the "savers" have the capacity to "save" at least
one person out of food poverty, the NSCB said, citing the official
annual per capita food threshold in 2003 at P7577, in 2006 at P9,257 and
in 2009 at P11,686.
On the other hand, the "non-savers" reported a deficit of 14 to 15
percent of their income between 2003 and 2009 or for every P100 that
they earn, they spend P114 to P115 pesos.
In terms of spending patterns, the biggest difference between "savers"
and "non-savers" was on food expenditures, with the latter spending
about 4 to 5 percent more.
Previous findings from poverty analysis showed that the poor spent
proportionately more on food than the non-poor, the NSCB noted.
Education was one of the items being sacrificed by non-savers, the
report found.
"This could mean that many of our kababayans could no longer afford to
send our children to school, or that higher education is no longer the
priority that it used to be among Pinoy families," the report said.
Another worrisome finding was that "non-savers" spend relatively more on
alcoholic beverages and tobacco than the "savers," NSCB noted.
In current prices, the total income of all families in the country was
P2.4 trillion in 2003, P3 trillion in 2006 and P3.8 trillion in 2009
while total expenditures amounted to P2 trillion in 2003, P2.6 trillion
in 2006 and P3.2 trillion in 2009.
This resulted in the share of total savings to total income of 16.4
percent in 2003 to 14.8 percent in 2006 and 14.9 percent in 2009.
Removing the impact of price increases overtime, real per capita annual
savings across all families nationwide went down from P5,261 in 2003 to
P4,667 in 2006 and P4,957 in 2009.
By geographic location, the Cordillera Administrative Region (CAR) had
the highest savings ratio in 2009 at 0.23 followed by Cagayan Valley at
0.21 and Central Visayas at 0.20.
The regions with the lowest savings ratio in 2009 were Western Visayas
(0.12), Bicol Region (0.14) and National Capital Region (0.15).
Among the "non-savers" in the regions, the highest deficit ratios in
2009 were observed in CAR (0.21) Socsksargen (0.18) and Cagayan Valley
(0.17).
"CAR and Region II appear to exhibit extreme behavior…they are home to
families who are the highest savers as well as the most lavish
spenders," the NSCB said.
Among savers between 2003 and 2009, the savings ratio of matriarchal or
female-headed households was consistently higher than the patriarchal or
male-headed ones.
Matriarchal households that were "savers" spent relatively less on
food, non-durable furnishing, clothing and footwear compared to the
patriarchal households. Patriarchal households that were "savers" spent
relatively less on recreation, special family occasions, gifts and
contributions, NSCB said.
Among non-savers, the income deficit of matriarchal households was
consistently less than the patriarchal households.
Matriarchal households that were "non-savers" spent relatively more on
personal care and effects compared to their male-headed counterparts,
while patriarchal households that were "non-savers" spent relatively
more on alcoholic beverages, tobacco, and durable furnishing.
The savings ratios of "savers" among households whose heads were single
were practically the same as those of "savers" with married household heads.
"Clearly, the challenge for those of us not on the Forbes List is how to
spend our money more wisely…less on non-basic expenditures so that we
will have more for essentials, like education and health," the NSCB said.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By: Ana G. Roa
Philippine Daily Inquirer
8:37 pm | Tuesday, July 10th, 2012
MANILA, Philippines — Two in three Filipino families were "savers"
between 2003 and 2009, keeping an average of P23 to P25 out of every
P100 they earned, a recent National Statistical Coordination Board
(NSCB) report showed.
The report also showed that female-headed households saved more than
male-headed ones.
The percentage of "savers" or families with income higher than
expenditure were 65.5 percent in 2003, 65.1 percent in 2006 and 65.9
percent in 2009.
The "non-savers" or families with savings less than or equal to zero
accounted for 34.5 percent in 2003, 34.9 percent in 2006 and 34.1
percent in 2009.
The latest Family Income and Expenditures Survey (FIES), which was used
as basis for the NSCB report was in 2009. The National Statistics Office
will conduct the next FIES survey in July 2012 and January of 2013,
with 2012 as reference year.
The report, written by former NSCB secretary general Romulo A. Virola,
NSCB director Jessamyn O. Encarnacion and NSCB statistical coordination
officer Mechelle M. Viernes, used data from the Family Income and
Expenditures Survey, which is conducted by the National Statistics
Office triennially.
The "savers" reported an average annual per capita savings of P10,693 in
2003, P11,982 in 2006 and P14,298 in 2009.
This would mean that the "savers" have the capacity to "save" at least
one person out of food poverty, the NSCB said, citing the official
annual per capita food threshold in 2003 at P7577, in 2006 at P9,257 and
in 2009 at P11,686.
On the other hand, the "non-savers" reported a deficit of 14 to 15
percent of their income between 2003 and 2009 or for every P100 that
they earn, they spend P114 to P115 pesos.
In terms of spending patterns, the biggest difference between "savers"
and "non-savers" was on food expenditures, with the latter spending
about 4 to 5 percent more.
Previous findings from poverty analysis showed that the poor spent
proportionately more on food than the non-poor, the NSCB noted.
Education was one of the items being sacrificed by non-savers, the
report found.
"This could mean that many of our kababayans could no longer afford to
send our children to school, or that higher education is no longer the
priority that it used to be among Pinoy families," the report said.
Another worrisome finding was that "non-savers" spend relatively more on
alcoholic beverages and tobacco than the "savers," NSCB noted.
In current prices, the total income of all families in the country was
P2.4 trillion in 2003, P3 trillion in 2006 and P3.8 trillion in 2009
while total expenditures amounted to P2 trillion in 2003, P2.6 trillion
in 2006 and P3.2 trillion in 2009.
This resulted in the share of total savings to total income of 16.4
percent in 2003 to 14.8 percent in 2006 and 14.9 percent in 2009.
Removing the impact of price increases overtime, real per capita annual
savings across all families nationwide went down from P5,261 in 2003 to
P4,667 in 2006 and P4,957 in 2009.
By geographic location, the Cordillera Administrative Region (CAR) had
the highest savings ratio in 2009 at 0.23 followed by Cagayan Valley at
0.21 and Central Visayas at 0.20.
The regions with the lowest savings ratio in 2009 were Western Visayas
(0.12), Bicol Region (0.14) and National Capital Region (0.15).
Among the "non-savers" in the regions, the highest deficit ratios in
2009 were observed in CAR (0.21) Socsksargen (0.18) and Cagayan Valley
(0.17).
"CAR and Region II appear to exhibit extreme behavior…they are home to
families who are the highest savers as well as the most lavish
spenders," the NSCB said.
Among savers between 2003 and 2009, the savings ratio of matriarchal or
female-headed households was consistently higher than the patriarchal or
male-headed ones.
Matriarchal households that were "savers" spent relatively less on
food, non-durable furnishing, clothing and footwear compared to the
patriarchal households. Patriarchal households that were "savers" spent
relatively less on recreation, special family occasions, gifts and
contributions, NSCB said.
Among non-savers, the income deficit of matriarchal households was
consistently less than the patriarchal households.
Matriarchal households that were "non-savers" spent relatively more on
personal care and effects compared to their male-headed counterparts,
while patriarchal households that were "non-savers" spent relatively
more on alcoholic beverages, tobacco, and durable furnishing.
The savings ratios of "savers" among households whose heads were single
were practically the same as those of "savers" with married household heads.
"Clearly, the challenge for those of us not on the Forbes List is how to
spend our money more wisely…less on non-basic expenditures so that we
will have more for essentials, like education and health," the NSCB said.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Monday, July 9, 2012
Loans to small traders may hit P1B by yearend
Loans to small traders may hit P1B by yearend
Philippine Daily Inquirer
9:42 pm | Sunday, July 8th, 2012
MANILA, Philippines—Loans to microenterprises under the government's
credit surety fund (CSF) program are expected to hit the P1-billion mark
by the end of the year.
According to the Bangko Sentral ng Pilipinas (BSP), the government is
bent on increasing financial assistance to the microenterprises sector
to attain an economic growth rate that will actually reduce the
incidence of poverty.
Gary Maningo, program manager for the CSF program, which is spearheaded
by the central bank, said that they were told to release loans amounting
to P1 billion by the end of this year.
Since the CSF program started in 2008, a total of P271 million had been
released by the 22 CSFs nationwide.
Maningo said the amount of loan disbursements should increase in the
months ahead due to the rise in the number of CSFs.
"Although the program started in 2008, lending activities have started
to pick up only recently," Maningo told the Inquirer at the sidelines of
a BSP briefing on economic developments held Saturday at Subic Bay.
A CSF is a pool of funds from state-owned banks, local governments,
cooperatives, and nongovernment organizations that is used to serve as
collateral for bank loans secured by microenterprises.
The objective of the CSF program is to make loans accessible for small
businesses. Most small traders find it difficult to borrow from banks
because they lack assets that can serve as collateral.
But with the CSF, 80 percent of the loan secured by the borrower is
guaranteed. Central bank officials said the guarantee encourages banks
to lend to microenterprises.
Maningo said the rise in loans for microenterprises would complement the
government's medium-term goal of increasing the contributions of micro,
small and medium enterprises (MSME) sector to the Philippine economy
from the current 35 percent to 40 percent.
Estimates showed that there are about 800,000 enterprises in the
country, of which about 600,000 are MSMEs.
Central bank officials said supporting growth of microenterprises would
be an effective way to address what economists describe as
"non-inclusive economic growth" in the Philippines.
Economists explained that, although the Philippine economy has been
growing over the years, the number of Filipinos living below the poverty
line remains significant. As of 2009, poverty incidence stood at 26.5
percent. They said that only the middle class and the rich get to
benefit from the economic growth of the Philippines.
One of the factors cited for the problem is the inability of the poor to
access loans.
The BSP said that, through the CSF program, the country's economic
growth would become
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Philippine Daily Inquirer
9:42 pm | Sunday, July 8th, 2012
MANILA, Philippines—Loans to microenterprises under the government's
credit surety fund (CSF) program are expected to hit the P1-billion mark
by the end of the year.
According to the Bangko Sentral ng Pilipinas (BSP), the government is
bent on increasing financial assistance to the microenterprises sector
to attain an economic growth rate that will actually reduce the
incidence of poverty.
Gary Maningo, program manager for the CSF program, which is spearheaded
by the central bank, said that they were told to release loans amounting
to P1 billion by the end of this year.
Since the CSF program started in 2008, a total of P271 million had been
released by the 22 CSFs nationwide.
Maningo said the amount of loan disbursements should increase in the
months ahead due to the rise in the number of CSFs.
"Although the program started in 2008, lending activities have started
to pick up only recently," Maningo told the Inquirer at the sidelines of
a BSP briefing on economic developments held Saturday at Subic Bay.
A CSF is a pool of funds from state-owned banks, local governments,
cooperatives, and nongovernment organizations that is used to serve as
collateral for bank loans secured by microenterprises.
The objective of the CSF program is to make loans accessible for small
businesses. Most small traders find it difficult to borrow from banks
because they lack assets that can serve as collateral.
But with the CSF, 80 percent of the loan secured by the borrower is
guaranteed. Central bank officials said the guarantee encourages banks
to lend to microenterprises.
Maningo said the rise in loans for microenterprises would complement the
government's medium-term goal of increasing the contributions of micro,
small and medium enterprises (MSME) sector to the Philippine economy
from the current 35 percent to 40 percent.
Estimates showed that there are about 800,000 enterprises in the
country, of which about 600,000 are MSMEs.
Central bank officials said supporting growth of microenterprises would
be an effective way to address what economists describe as
"non-inclusive economic growth" in the Philippines.
Economists explained that, although the Philippine economy has been
growing over the years, the number of Filipinos living below the poverty
line remains significant. As of 2009, poverty incidence stood at 26.5
percent. They said that only the middle class and the rich get to
benefit from the economic growth of the Philippines.
One of the factors cited for the problem is the inability of the poor to
access loans.
The BSP said that, through the CSF program, the country's economic
growth would become
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Friday, July 6, 2012
BPO sector seen paying P247 billion in wages this year
BPO sector seen paying P247 billion in wages this year
By Paolo Romero (The Philippine Star) Updated July 05, 2012 12:00 AM
MANILA, Philippines - The labor-intensive business process outsourcing
(BPO) sector is expected to pay a total of P247 billion in wages this
year, one of the industry's backers in Congress said yesterday.
House Deputy Majority Leader and Pasig City Rep. Roman Romulo said BPO
firms on average spend around 40 to 45 percent of their revenues to
compensate their staff as "the industry is basically adding high-value
labor services."
At this rate, BPO companies would be disbursing approximately $5.85
billion in salaries this year based on projected industry revenues of up
to $13 billion, he said.
"No matter how we look at it, P247 billion represents a huge amount of
money being coursed through the economy every year, and helping to drive
consumption spending," Romulo said.
He said consumption spending in turn has helped to create recurring
demand for goods and services, thus perking up domestic industries.
"To put the P247 billion into perspective, it is equal to around 14
percent of the National Government's P1.816-trillion spending program
this year, and larger than the budgets of the top five departments," the
lawmaker said.
The Department of Education is spending P238.8 billion this year;
Department of Public Works and Highways, P125.5 billion; Department of
National Defense, P107.9 billion; Department of the Interior and Local
Government, P101.4 billion; and the Department of Agriculture, P54.1
billion.
A recent survey by the Bangko Sentral ng Pilipinas showed that BPO
employees on average receive P383,863 in annual compensation, he said.
Romulo said the P247 billion is also some 53 percent greater than the
P161 billion in combined annual benefits paid by the Social Security
System (SSS), Government Service Insurance System (GSIS) and Philippine
Health Insurance Corp. (Philhealth) to their respective members.
The SSS and GSIS paid P76 billion and P50 billion respectively in
benefits to their members in 2011, while Philhealth paid P35 billion, he
said.
The BPO industry is projected to rake in up to $27 billion in annual
revenues and directly engage some 1.3 million Filipino workers by 2016.
It posted $11 billion in revenues on a labor force of 638,000 in 2011.
This year, the sector hopes to create 126,000 new jobs and generate $2
billion in extra earnings, according to the Business Processing
Association of the Philippines.
The industry encompasses contact center services; back offices; medical,
legal and other data transcription; animation; software development;
engineering design; and digital content.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By Paolo Romero (The Philippine Star) Updated July 05, 2012 12:00 AM
MANILA, Philippines - The labor-intensive business process outsourcing
(BPO) sector is expected to pay a total of P247 billion in wages this
year, one of the industry's backers in Congress said yesterday.
House Deputy Majority Leader and Pasig City Rep. Roman Romulo said BPO
firms on average spend around 40 to 45 percent of their revenues to
compensate their staff as "the industry is basically adding high-value
labor services."
At this rate, BPO companies would be disbursing approximately $5.85
billion in salaries this year based on projected industry revenues of up
to $13 billion, he said.
"No matter how we look at it, P247 billion represents a huge amount of
money being coursed through the economy every year, and helping to drive
consumption spending," Romulo said.
He said consumption spending in turn has helped to create recurring
demand for goods and services, thus perking up domestic industries.
"To put the P247 billion into perspective, it is equal to around 14
percent of the National Government's P1.816-trillion spending program
this year, and larger than the budgets of the top five departments," the
lawmaker said.
The Department of Education is spending P238.8 billion this year;
Department of Public Works and Highways, P125.5 billion; Department of
National Defense, P107.9 billion; Department of the Interior and Local
Government, P101.4 billion; and the Department of Agriculture, P54.1
billion.
A recent survey by the Bangko Sentral ng Pilipinas showed that BPO
employees on average receive P383,863 in annual compensation, he said.
Romulo said the P247 billion is also some 53 percent greater than the
P161 billion in combined annual benefits paid by the Social Security
System (SSS), Government Service Insurance System (GSIS) and Philippine
Health Insurance Corp. (Philhealth) to their respective members.
The SSS and GSIS paid P76 billion and P50 billion respectively in
benefits to their members in 2011, while Philhealth paid P35 billion, he
said.
The BPO industry is projected to rake in up to $27 billion in annual
revenues and directly engage some 1.3 million Filipino workers by 2016.
It posted $11 billion in revenues on a labor force of 638,000 in 2011.
This year, the sector hopes to create 126,000 new jobs and generate $2
billion in extra earnings, according to the Business Processing
Association of the Philippines.
The industry encompasses contact center services; back offices; medical,
legal and other data transcription; animation; software development;
engineering design; and digital content.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Thursday, July 5, 2012
BSP certifies 6 rural banks under Agri-Agra Reform law
BSP certifies 6 rural banks under Agri-Agra Reform law
THE BANGKO Sentral ng Pilipinas has accredited six rural banks as firms
that other banks can lend to or invest in as they comply with the
requirements of Republic Act 10000 or the Agri-Agra Reform Credit Act of
2009.
In Circular No. 2012-047 dated July 3, 2012, the central bank said the
following have been certified as Accredited Rural Financial Institutions
(ARFI): Rural Bank of Kiamba, Inc., Rural Bank of Barili (Cebu), Inc.,
Producers Savings Bank Corp., Rural Bank of Sta. Catalina, Inc.,
Community Rural Bank of Catmon, Inc., and Rural Bank of Bay, Inc.
"Such accreditation is valid until sooner revoked for non-renewal or
non-compliance with the qualification requirements prescribed under
existing rules and regulations," the circular read.
The Agri-Agra Reform Credit Act mandates banks to set aside 25% of their
total loanable funds for lending to the agriculture and agrarian reform
sectors.
Aside from extending loans and purchasing eligible loans from other
banks, banks have alternative modes to comply with the law.
These alternatives include paid subscription of shares of stock in ARFIs
and investments in the special deposit accounts of ARFIs.
Implementing rules and regulations of the Agri-Agra law were issued by
the central bank in September last year.
Banks, then, were required to submit a report detailing their compliance
in January this year. -- K. A. Martin
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
THE BANGKO Sentral ng Pilipinas has accredited six rural banks as firms
that other banks can lend to or invest in as they comply with the
requirements of Republic Act 10000 or the Agri-Agra Reform Credit Act of
2009.
In Circular No. 2012-047 dated July 3, 2012, the central bank said the
following have been certified as Accredited Rural Financial Institutions
(ARFI): Rural Bank of Kiamba, Inc., Rural Bank of Barili (Cebu), Inc.,
Producers Savings Bank Corp., Rural Bank of Sta. Catalina, Inc.,
Community Rural Bank of Catmon, Inc., and Rural Bank of Bay, Inc.
"Such accreditation is valid until sooner revoked for non-renewal or
non-compliance with the qualification requirements prescribed under
existing rules and regulations," the circular read.
The Agri-Agra Reform Credit Act mandates banks to set aside 25% of their
total loanable funds for lending to the agriculture and agrarian reform
sectors.
Aside from extending loans and purchasing eligible loans from other
banks, banks have alternative modes to comply with the law.
These alternatives include paid subscription of shares of stock in ARFIs
and investments in the special deposit accounts of ARFIs.
Implementing rules and regulations of the Agri-Agra law were issued by
the central bank in September last year.
Banks, then, were required to submit a report detailing their compliance
in January this year. -- K. A. Martin
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Tuesday, July 3, 2012
BSP bans flat rates on loans
BSP bans flat rates on loans
By Prinz P. Magtulis (The Philippine Star) Updated July 03, 2012
MANILA, Philippines - Banks and other lending institutions are no longer
allowed to offer flat interest rates on loans as the Bangko Sentral ng
Pilipinas (BSP) implements circulars updating rules of a 1963 law that
enforces transparency in credit lending.
BSP Deputy Governor Nestor Espenilla said yesterday the new circulars
want to establish discipline and responsibility among credit granting
institutions.
"Interest should be based on outstanding balance of a loan. In reality
however, what we have observed is that interest rates are charged to
initial balances, even if it has declined," Espenilla said.
"Flat rates are no longer allowed since they tend to confuse the
public," he added.
A flat rate is when lenders charge a fix interest rate to a particular
loan within a certain maturity. Espenilla said this tend to be
"appealing" to borrowers, especially since they are "easy and seems to
be more understandable" than a declining interest rate.
A declining rate, he explained, is when the interest is based on the
balance of the loan plus all the fees and charges computed every paying
period. In this way, Espenilla said a lender is being transparent as to
the true cost of the loan.
"But the loan is not necessarily more expensive. You are just being
transparent," Espenilla explained.
He cited a case when a borrower of P10,000, with a term of 13 weeks, was
charged with 1.5 percent flat monthly interest rate plus a separate
three percent rate as "other charges." The P803.85 weekly amortization
will be the same for a P10,000 loan with a term of 13 weeks and has a
declining interest rate of 4.77 percent.
In the second instance, "the total cost of the loan involved the
interest, fees, service charges, discounts, and all others incident to
the extension of credit," Espenilla said, noting that fees and charges
are part of the "mandatory disclosures" provided under the BSP Circular 755.
"The challenge here is really the enforcement. We made a comprehensive
effort in drafting these rules and now our efforts will shift to making
sure that these regulations will stick toward enforcements," Espenilla said.
Lending institutions that will be found not following the new rules will
be sanctioned accordingly, he added.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By Prinz P. Magtulis (The Philippine Star) Updated July 03, 2012
MANILA, Philippines - Banks and other lending institutions are no longer
allowed to offer flat interest rates on loans as the Bangko Sentral ng
Pilipinas (BSP) implements circulars updating rules of a 1963 law that
enforces transparency in credit lending.
BSP Deputy Governor Nestor Espenilla said yesterday the new circulars
want to establish discipline and responsibility among credit granting
institutions.
"Interest should be based on outstanding balance of a loan. In reality
however, what we have observed is that interest rates are charged to
initial balances, even if it has declined," Espenilla said.
"Flat rates are no longer allowed since they tend to confuse the
public," he added.
A flat rate is when lenders charge a fix interest rate to a particular
loan within a certain maturity. Espenilla said this tend to be
"appealing" to borrowers, especially since they are "easy and seems to
be more understandable" than a declining interest rate.
A declining rate, he explained, is when the interest is based on the
balance of the loan plus all the fees and charges computed every paying
period. In this way, Espenilla said a lender is being transparent as to
the true cost of the loan.
"But the loan is not necessarily more expensive. You are just being
transparent," Espenilla explained.
He cited a case when a borrower of P10,000, with a term of 13 weeks, was
charged with 1.5 percent flat monthly interest rate plus a separate
three percent rate as "other charges." The P803.85 weekly amortization
will be the same for a P10,000 loan with a term of 13 weeks and has a
declining interest rate of 4.77 percent.
In the second instance, "the total cost of the loan involved the
interest, fees, service charges, discounts, and all others incident to
the extension of credit," Espenilla said, noting that fees and charges
are part of the "mandatory disclosures" provided under the BSP Circular 755.
"The challenge here is really the enforcement. We made a comprehensive
effort in drafting these rules and now our efforts will shift to making
sure that these regulations will stick toward enforcements," Espenilla said.
Lending institutions that will be found not following the new rules will
be sanctioned accordingly, he added.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
BDO, Smart bring mobile banking to new heights
BDO, Smart bring mobile banking to new heights
By Ted P. Torres (The Philippine Star) Updated July 03, 2012 12:00
MANILA, Philippines - BDO Unibank Inc. has been making banking more
convenient for the public with the use of mobile phone technology.
With the mobile phone and a Smart prepaid card, BDO customers can
practically do bank transactions anywhere, anytime.
With the help of leading telecommunications provider Smart
Communications Inc. (Smart), BDO introduced the Smart Money prepaid card
that also serves as an automated teller machine (ATM), and a debit card.
It has become so popular that BDO has already issued over 400,000 Smart
Money cards.
BDO senior vice president and cash management services head Jaime M.
Nasol explained that mobile phone banking makes it convenient for anyone
to transact with the bank or make cash transactions without having to
actually go to a bank branch.
"Our customers can have access to the bank, without having to physically
go to the bank," Nasol said.
Through the mobile phone alone, an enrolled bank client can either check
ones savings or checking account with BDO, make money transfer, buy
airtime, or more popularly called load (pasaload), for the Smart, Talk
'N Text, Globe and Touch Mobile cellular phones, and reload Smart Money
cards.
Money transfer transactions are among the more popular especially for
beneficiaries of overseas Filipinos, or even money transfers
domestically. There are students studying in Manila but receiving money
from parents based outside of Metro Manila. Or there are cases when one
gets his payroll through the mobile phone into their Smart Money
pre-paid cards.
Nasol explained that mobile banking with BDO could be translated to
immeasurable savings for the user aside from the obvious convenience.
An enrolled mobile phone users can make a balance inquiry for free with
BDO via the mobile phone versus having to go to an ATM and pay between
P2 to P11 per transaction.
And with a Smart Money card, a beneficiary in far-flung areas need not
go all the way to a town center to visit a BDO branch to make cash
withdrawal. The sender can just load the cash through the mobile phone
to the Smart Money pre-paid card.
With the "load" pre-paid card, the holder has a number of options on how
to redeem the cash, or use the card for purchases.
Smart operates over a hundred Smart Centers, over 5,000 money-in,
money-out (MIMO) outlets, over 740 BDO branches, 1,500 BDO ATMs, or
8,000 ATMs of all providers, 38 financial institutions (cooperatives and
rural banks) that use the point-of-sale (POS) cordless terminals.
Smart's MIMO are also outlets, which generally sells airtime or load,
although some are even thrift and rural banks, cooperatives, money
changers, pawnshops, sari-sari stores, and the like.
Smart Communications department head for financial services Tricia V.
Dizon revealed that China Banking Corp. and the Land Bank of the
Philippines (LBP) have also joined the mobile banking bandwagon.
"In fact, we have 10 million virtual accounts using smart money, while
some are carded as in the case of BDO's Smart Money pre-paid card,"
Dizon explained.
She explained that they have already created a nationwide ecosystem that
can support mobile banking, in various degrees, scale and complexity of
applications.
"We are in a state where we can do it virtually," the Smart executive said.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
By Ted P. Torres (The Philippine Star) Updated July 03, 2012 12:00
MANILA, Philippines - BDO Unibank Inc. has been making banking more
convenient for the public with the use of mobile phone technology.
With the mobile phone and a Smart prepaid card, BDO customers can
practically do bank transactions anywhere, anytime.
With the help of leading telecommunications provider Smart
Communications Inc. (Smart), BDO introduced the Smart Money prepaid card
that also serves as an automated teller machine (ATM), and a debit card.
It has become so popular that BDO has already issued over 400,000 Smart
Money cards.
BDO senior vice president and cash management services head Jaime M.
Nasol explained that mobile phone banking makes it convenient for anyone
to transact with the bank or make cash transactions without having to
actually go to a bank branch.
"Our customers can have access to the bank, without having to physically
go to the bank," Nasol said.
Through the mobile phone alone, an enrolled bank client can either check
ones savings or checking account with BDO, make money transfer, buy
airtime, or more popularly called load (pasaload), for the Smart, Talk
'N Text, Globe and Touch Mobile cellular phones, and reload Smart Money
cards.
Money transfer transactions are among the more popular especially for
beneficiaries of overseas Filipinos, or even money transfers
domestically. There are students studying in Manila but receiving money
from parents based outside of Metro Manila. Or there are cases when one
gets his payroll through the mobile phone into their Smart Money
pre-paid cards.
Nasol explained that mobile banking with BDO could be translated to
immeasurable savings for the user aside from the obvious convenience.
An enrolled mobile phone users can make a balance inquiry for free with
BDO via the mobile phone versus having to go to an ATM and pay between
P2 to P11 per transaction.
And with a Smart Money card, a beneficiary in far-flung areas need not
go all the way to a town center to visit a BDO branch to make cash
withdrawal. The sender can just load the cash through the mobile phone
to the Smart Money pre-paid card.
With the "load" pre-paid card, the holder has a number of options on how
to redeem the cash, or use the card for purchases.
Smart operates over a hundred Smart Centers, over 5,000 money-in,
money-out (MIMO) outlets, over 740 BDO branches, 1,500 BDO ATMs, or
8,000 ATMs of all providers, 38 financial institutions (cooperatives and
rural banks) that use the point-of-sale (POS) cordless terminals.
Smart's MIMO are also outlets, which generally sells airtime or load,
although some are even thrift and rural banks, cooperatives, money
changers, pawnshops, sari-sari stores, and the like.
Smart Communications department head for financial services Tricia V.
Dizon revealed that China Banking Corp. and the Land Bank of the
Philippines (LBP) have also joined the mobile banking bandwagon.
"In fact, we have 10 million virtual accounts using smart money, while
some are carded as in the case of BDO's Smart Money pre-paid card,"
Dizon explained.
She explained that they have already created a nationwide ecosystem that
can support mobile banking, in various degrees, scale and complexity of
applications.
"We are in a state where we can do it virtually," the Smart executive said.
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Sunday, July 1, 2012
Pioneer Life eyes premium, client buildup
Pioneer Life eyes premium, client buildup
INSURER Pioneer Life aims to make significant strides in the
microinsurance business this year, eyeing one million clients and P100
million in premium income.
This would represent a doubling of the insurer's microinsurance
clientele, which numbered 492,000 in 2011, yielding only P17 million in
premiums.
"We are willing to go out on a limb and be pioneers in microinsurance.
If we want to be a truly Filipino company, we need to be able to offer
insurance products for all Filipinos, not just the A and B classes,"
Pioneer Life President and Chief Executive Officer Lorenzo O. Chan said
in a press conference yesterday.
While microinsurance, or insurance for the poor, makes up "the lion's
share" of Pioneer Life's policies, it accounts for just 7% of the
company's total premium income.
Microinsurance, as defined by the government, cannot be priced more than
5% of the current daily minimum wage rate of non-farm workers in the
National Capital Region.
This caps the coverage of microinsurance policies at about P8,000 and
the premiums at around P200 to P500, depending on the product.
"When we decided to venture into microinsurance, we told ourselves, we
have to be willing to take less margins," Mr. Chan said, adding that
today, "the key is to generate volume."
Pioneer Life is keen to continue its tie-up with the Catholic Bishops
Conference of the Philippines this year, allowing it to organize
Wellness and Savers Clubs in churches throughout the country.
It also has an ongoing partnership with Center for Agriculture and Rural
Development (CARD), the country's largest microfinance institution. "We
reach 1.7 million people through CARD, and so we can design specific
products for the needs of their group," Mr. Chan said, referring to the
CARD-Microinsurance Agency. The product offers coverage of up to
P100,000 for personal accidents, P20,000 in funeral benefits and P10,000
in property insurance, for an annual premium of only P250. -- Diane
Claire J. Jiao
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
INSURER Pioneer Life aims to make significant strides in the
microinsurance business this year, eyeing one million clients and P100
million in premium income.
This would represent a doubling of the insurer's microinsurance
clientele, which numbered 492,000 in 2011, yielding only P17 million in
premiums.
"We are willing to go out on a limb and be pioneers in microinsurance.
If we want to be a truly Filipino company, we need to be able to offer
insurance products for all Filipinos, not just the A and B classes,"
Pioneer Life President and Chief Executive Officer Lorenzo O. Chan said
in a press conference yesterday.
While microinsurance, or insurance for the poor, makes up "the lion's
share" of Pioneer Life's policies, it accounts for just 7% of the
company's total premium income.
Microinsurance, as defined by the government, cannot be priced more than
5% of the current daily minimum wage rate of non-farm workers in the
National Capital Region.
This caps the coverage of microinsurance policies at about P8,000 and
the premiums at around P200 to P500, depending on the product.
"When we decided to venture into microinsurance, we told ourselves, we
have to be willing to take less margins," Mr. Chan said, adding that
today, "the key is to generate volume."
Pioneer Life is keen to continue its tie-up with the Catholic Bishops
Conference of the Philippines this year, allowing it to organize
Wellness and Savers Clubs in churches throughout the country.
It also has an ongoing partnership with Center for Agriculture and Rural
Development (CARD), the country's largest microfinance institution. "We
reach 1.7 million people through CARD, and so we can design specific
products for the needs of their group," Mr. Chan said, referring to the
CARD-Microinsurance Agency. The product offers coverage of up to
P100,000 for personal accidents, P20,000 in funeral benefits and P10,000
in property insurance, for an annual premium of only P250. -- Diane
Claire J. Jiao
--
------------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun)
Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
SEEDFINANCE Corporation - http://www.seedfinance.net
My News Clippings - http://www.myclipps.posterous.com
Skype name: carlosaniph
-----------------------------------------------------------------------
Pioneer plans to sell cheap insurance to 1M Filipinos
Pioneer plans to sell cheap insurance to 1M Filipinos
THE Pioneer Group of Insurance Companies looks to sell P100 million worth of microinsurance policies this year to more or less one million Filipinos who can afford P19 a month as premium payment.
The Pioneer Group, which is both into life and non-life insurance, also reported having sold microinsurance policies to half a million Filipinos at end-2011 or 300 percent more than in 2010 when those who took microinsurance policies numbered only 160,000.
This was learned on Thursday from Pioneer Life President and Chief Executive Officer Lorenzo Chan who told a press conference the group’s target premium sales this year was basically in keeping with expectations.
“We’re on track,” Chan said of Pioneer’s premium sales performance without disclosing the actual number although he cited last year’s premium income of P1.43 billion.
“The microinsurance market is simple yet it comes with its own set of requirements. The situation is such that we must simplify forms and processes and ensure ease of claims filing.” We took up that challenge,” Chan said.
According to him, claims are typically settled within five days from notice of loss.
Chan expressed optimism for still greater demand for microinsurance cover as more Filipinos become more aware of its existence.
“In the next three to five years we expect to at least mimic the growth trajectory we’ve had,” he said.
Pioneer first began selling affordable insurance products with easy-to-understand forms in 2008 when few believed that microinsurance was worth engaging in for profit.
“Today, as we see our coverages enabling more and more claimants to get back on their feet after a tragedy, we’re encouraged to continue making insurance available and affordable to the market that needs it most,” Chan said.
Pioneer’s life insurance products generated gross written premiums of around P1.2 billion last year on the back of assets worth P5 billion and equity of over P800 million.
Its non-life business generated gross premiums written of some P3.8 billion, backed by equity of some P7 billion and assets of another P12 billion.
-- ------------------------------------------------------------------------ CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031 Emails: carlosani@gmail.com , carlosani@seedfinance.net Landline Phone: +63495010127 (PLDT) Cellphone Numbers: +639152919580 (Globe) and +639328590859 (Sun) Websites: CARLOSANI.COM - http://www.carlosani.com DEVJOBS - http://www.devjobsmail.com PHILDEVFINANCE - http://phildevfinance.posterous.com http://phildevfinance.blogspot.com Family website - http://www.anifamily.net SEEDFINANCE Corporation - http://www.seedfinance.net My News Clippings - http://www.myclipps.posterous.com Skype name: carlosaniph -----------------------------------------------------------------------
Subscribe to:
Posts (Atom)