+ Follow ASIA RECOVERY CORP Tag
Array
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[results] => Array
(
[0] => Array
(
[ArticleID] => 325268
[Title] => ARC sells P13.2-B Metrobank NPAs to German bank
[Summary] => Asia Recovery Corp. (ARC) has disposed of P13.2-billion worth of non-performing assets (NPAs) acquired from Metropolitan Bank and Trust Co. (Metrobank) two years ago to a subsidiary of a German bank.
The sale, conducted through an auction, represents almost all of ARC’s current inventory of non-performing loans and acquired assets.
ARC president Pedro Jaminola Jr. said the winning bidder in the auction held on Wednesday is a subsidiary of Hypo-und Vereins Bank AG (HVB). The bidding attracted several large foreign financial and investment institutions.
[DatePublished] => 2006-03-10 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 222759
[Title] => Metrobank repackages sale of bad loans to Rabobank of Netherlands
[Summary] => Metropolitan Bank and Trust Co. (Metrobank) is repackaging the planned sale of its bad loans to Rabobank of the Netherlands and will re-apply it for approval by the Bangko Sentral ng Pilipinas (BSP) under the new Special Purpose Vehicles Act.
The transaction is expected to be the first to make it through under the new law and sources said Metrobank was close to polishing the deal with Rabobank in order to apply for incentives.
[DatePublished] => 2003-10-02 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 199738
[Title] => Lehman to pursue $1-B RP plan
[Summary] => Lehman Brothers will push through with its plan to invest at least $1 billion on asset management in the Philippines, after its path was cleared by the passage of the Special Purpose Vehicle Act (SPVA) that allows banks to sell their bad loans to asset managers.
Finance officials said yesterday that Lehman is only waiting for the government to release the implementing rules and regulations (IRR) even as it launched an active search for banks willing to part with their bad loans at discounted prices.
[DatePublished] => 2003-03-21 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 198001
[Title] => Metrobank sets aside P3-B for loan losses
[Summary] => Industry leader Metropolitan Bank and Trust Co. (Metrobank) will set aside P3 billion in loan-loss provision as it awaits the release of the implementing rules and regulations (IRR) of the special purpose vehicle (SPV) law.
Likewise, Metrobank is looking for ways to trim the level of its non-performing loans (NPL) which reportedly stood at 16.27 percent of total loan portfolio as of December 2002. Data from the Bangko Sentral ng Pilipinas (BSP) indicate that in terms of absolute amount, the bank’s bad loans stood at P31.4 billion.
[DatePublished] => 2003-03-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 189871
[Title] => Metrobank sells NPLs to raise Tier 2 capital
[Summary] => The Metropolitan Bank and Trust Co. (Metrobank) has aggressively undertaken capital-raising with restructuring activities in a bid to once more be considered a vanguard by its peers in the country’s banking system.
[DatePublished] => 2002-12-31 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[5] => Array
(
[ArticleID] => 184294
[Title] => Metrobank raises $125-M via 10-yr bond issue
[Summary] => Metrobank, the country’s largest bank, successfully raised $125 million the other day in the international capital markets with a 10-year lower Tier 2 bond issue. This is the first public subordinated debt issue in the Philippines and opens the international capital markets for other Philippine banks looking to strengthen their capital base. The bonds have been registered in Singapore and will pay a semi-annual coupon of 8.5 percent.
UBS Warburg acted as sole bookrunner.
[DatePublished] => 2002-11-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 182205
[Title] => Metrobank net income up 65% in Q3
[Summary] => Metropolitan Bank & Trust Co. (Metrobank), the country’s largest bank, registered a net income of P791.28 million during the third quarter of the year, up by 65 percent from the year ago level of P480.05 million.
The uptick in the third quarter was driven by trading gains in the debt and foreign exchange markets. The bank was benefiting from investments in government securities.
[DatePublished] => 2002-11-01 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 180295
[Title] => Lehman Bros eyes NPLs of Landbank
[Summary] => After losing its Metrobank deal to Ravo Bank, Lehman Brothers is now eyeing the non-performing loans (NPLs) of Land Bank of the Philippines (Landbank), pending the approval of the proposed law on asset management companies.
[DatePublished] => 2002-10-18 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 173342
[Title] => Metrobank signs deal with Rabobank
[Summary] => Metrobank, the country’s largest bank, has concluded an agreement for the sale of over P16 billion worth of non-performing loans (NPLs) to Asia Recovery Corp.–an asset management company (AMC) set up on the basis of investments by a foreign group led by Rabobank Nederland.
The sale and purchase agreement, the first ever in the banking industry, and probably the largest in amount, has been submitted to the Bangko Sentral ng Pilipinas (BSP) for approval by the Monetary Board. Metrobank said that pending its approval, details of the agreement cannot be disclosed.
[DatePublished] => 2002-08-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
ASIA RECOVERY CORP
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 325268
[Title] => ARC sells P13.2-B Metrobank NPAs to German bank
[Summary] => Asia Recovery Corp. (ARC) has disposed of P13.2-billion worth of non-performing assets (NPAs) acquired from Metropolitan Bank and Trust Co. (Metrobank) two years ago to a subsidiary of a German bank.
The sale, conducted through an auction, represents almost all of ARC’s current inventory of non-performing loans and acquired assets.
ARC president Pedro Jaminola Jr. said the winning bidder in the auction held on Wednesday is a subsidiary of Hypo-und Vereins Bank AG (HVB). The bidding attracted several large foreign financial and investment institutions.
[DatePublished] => 2006-03-10 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 222759
[Title] => Metrobank repackages sale of bad loans to Rabobank of Netherlands
[Summary] => Metropolitan Bank and Trust Co. (Metrobank) is repackaging the planned sale of its bad loans to Rabobank of the Netherlands and will re-apply it for approval by the Bangko Sentral ng Pilipinas (BSP) under the new Special Purpose Vehicles Act.
The transaction is expected to be the first to make it through under the new law and sources said Metrobank was close to polishing the deal with Rabobank in order to apply for incentives.
[DatePublished] => 2003-10-02 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 199738
[Title] => Lehman to pursue $1-B RP plan
[Summary] => Lehman Brothers will push through with its plan to invest at least $1 billion on asset management in the Philippines, after its path was cleared by the passage of the Special Purpose Vehicle Act (SPVA) that allows banks to sell their bad loans to asset managers.
Finance officials said yesterday that Lehman is only waiting for the government to release the implementing rules and regulations (IRR) even as it launched an active search for banks willing to part with their bad loans at discounted prices.
[DatePublished] => 2003-03-21 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 198001
[Title] => Metrobank sets aside P3-B for loan losses
[Summary] => Industry leader Metropolitan Bank and Trust Co. (Metrobank) will set aside P3 billion in loan-loss provision as it awaits the release of the implementing rules and regulations (IRR) of the special purpose vehicle (SPV) law.
Likewise, Metrobank is looking for ways to trim the level of its non-performing loans (NPL) which reportedly stood at 16.27 percent of total loan portfolio as of December 2002. Data from the Bangko Sentral ng Pilipinas (BSP) indicate that in terms of absolute amount, the bank’s bad loans stood at P31.4 billion.
[DatePublished] => 2003-03-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 189871
[Title] => Metrobank sells NPLs to raise Tier 2 capital
[Summary] => The Metropolitan Bank and Trust Co. (Metrobank) has aggressively undertaken capital-raising with restructuring activities in a bid to once more be considered a vanguard by its peers in the country’s banking system.
[DatePublished] => 2002-12-31 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[5] => Array
(
[ArticleID] => 184294
[Title] => Metrobank raises $125-M via 10-yr bond issue
[Summary] => Metrobank, the country’s largest bank, successfully raised $125 million the other day in the international capital markets with a 10-year lower Tier 2 bond issue. This is the first public subordinated debt issue in the Philippines and opens the international capital markets for other Philippine banks looking to strengthen their capital base. The bonds have been registered in Singapore and will pay a semi-annual coupon of 8.5 percent.
UBS Warburg acted as sole bookrunner.
[DatePublished] => 2002-11-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 182205
[Title] => Metrobank net income up 65% in Q3
[Summary] => Metropolitan Bank & Trust Co. (Metrobank), the country’s largest bank, registered a net income of P791.28 million during the third quarter of the year, up by 65 percent from the year ago level of P480.05 million.
The uptick in the third quarter was driven by trading gains in the debt and foreign exchange markets. The bank was benefiting from investments in government securities.
[DatePublished] => 2002-11-01 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 180295
[Title] => Lehman Bros eyes NPLs of Landbank
[Summary] => After losing its Metrobank deal to Ravo Bank, Lehman Brothers is now eyeing the non-performing loans (NPLs) of Land Bank of the Philippines (Landbank), pending the approval of the proposed law on asset management companies.
[DatePublished] => 2002-10-18 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 173342
[Title] => Metrobank signs deal with Rabobank
[Summary] => Metrobank, the country’s largest bank, has concluded an agreement for the sale of over P16 billion worth of non-performing loans (NPLs) to Asia Recovery Corp.–an asset management company (AMC) set up on the basis of investments by a foreign group led by Rabobank Nederland.
The sale and purchase agreement, the first ever in the banking industry, and probably the largest in amount, has been submitted to the Bangko Sentral ng Pilipinas (BSP) for approval by the Monetary Board. Metrobank said that pending its approval, details of the agreement cannot be disclosed.
[DatePublished] => 2002-08-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
abtest
December 31, 2002 - 12:00am
November 17, 2002 - 12:00am
August 25, 2002 - 12:00am
