Array
(
    [results] => Array
        (
            [0] => Array
                (
                    [ArticleID] => 362089
                    [Title] => The hunt is over – SM takes control of EPCI
                    [Summary] => Since we came out with our article "The Hunter becomes the hunted (Philequity Corner – May 27, 2005)," there have indeed been a flurry of M&A activity in the banking sector similar to what happened in 1999.  It all started when the SM-BDO group announced in early 2004 its bid to take control of Equitable-PCI Bank (EPCI) by securing a memorandum of agreement with the SSS to purchase the latter’s stake in EPCI. This move eventually led to a court case which blocked the sale of the said shares.


                    [DatePublished] => 2006-10-09 00:00:00
                    [ColumnID] => 135252
                    [Focus] => 0
                    [AuthorID] => 1357954
                    [AuthorName] => Ignacio B. Gimenez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 357528
                    [Title] => Sy Group rules out 3-way merger among BDO, EPCIB, China Bank
                    [Summary] => 



The Sy group said a three-way merger among Banco De Oro, Equitable PCI Bank and China Bank is unlikely at this point.


"Let’s wait for the tender offer to be completed first.  Hopefully, everything would be finished by the end of September or first week of October," said  SM Investments Corp. (SMIC) vice chairman Tessie Sy when asked about the possibilities of a mega-merger between the three banks.


                    [DatePublished] => 2006-09-11 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 354407
                    [Title] => De la Paz says EPCI Bank chairmanship does not violate BSP rules
                    [Summary] => Social Security System (SSS) president and CEO Corazon de la Paz said yesterday that her concurrent position as chairman of the board of Equitable PCI Bank does not violate any regulations on public officials.


This as she clarified that the EPCI Bank board had already amended its by-laws, making the positions of chairman and vice-chairman as non-managerial to comply with the provision on public officials taking private posts.


De la Paz explained that the board passed the resolution last July reclassifying the chairman and the vice-chairman positions as officers. 


                    [DatePublished] => 2006-08-24 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 329774
                    [Title] => TUCP urges GSIS to back down on EPCIB  buying
                    [Summary] => The Trade Union Congress of the Philippines (TUCP) is warning the Government Service Insurance System (GSIS) against hoarding more shares of Equitable PCI Bank (EPCIB). 


The caretaker of the pensions of civil servants plans to sell its 12.4-percent equity stake in EPCIB to an unnamed foreign buyer. 


Former senator and TUCP general secretary Ernesto Herrera dismissed as "preposterous" GSIS‚ reported plan to liquidate a large investment in fixed-income government securities (GS) in order for the government pension fund to have cash to buy more EPCI shares. 

                    [DatePublished] => 2006-04-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 327199
                    [Title] => Banking M&A fever continues– Buy bank stocks
                    [Summary] => Banking consolidation has been the major theme why Philequity has been overweight in the banking sector since 2004. Even if had you bought banking stocks 10 months ago – at the time when we wrote our article titled "The Hunter becomes the hunted – Philequity Corner, May 30, 2005" – chances are, you would be up more than 20 percent. We mentioned, back then, that opportunities abound for a new round of banking speculation similar to what happened in 1999 when Equitable Bank started an M&A frenzy after acquiring and merging with PCI Bank.
                    [DatePublished] => 2006-03-20 00:00:00
                    [ColumnID] => 135252
                    [Focus] => 0
                    [AuthorID] => 1357954
                    [AuthorName] => Ignacio B. Gimenez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 317488
                    [Title] => SEC finds violation in appointment of 2 EPCIB independent directors
                    [Summary] => The Securities and Exchange Commission has found the appointments of Presidential Adviser Roberto Romulo and Cesar Bautista as independent directors of Equitable-PCI Bank in violation of the Securities Regulation Code (SRC).  


Based on the investigation conducted by the SEC’s Compliance and Enforcement Department (SEC-CED), Romulo and Bautista are not fit to sit as independent directors in EPCI Bank subject to the requirements of Sec. 38 of the SRC.


                    [DatePublished] => 2006-01-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 316959
                    [Title] => Banking M&A – The saga continues…
                    [Summary] => Last year, we came out with a series of articles on banking consolidation, saying that opportunities abound for possible M&A deals that could trigger a new round of banking speculation similar to what happened in 1999. In our initial article, we discussed how the table has turned for Equitable PCI Bank (EPCI). "From being a hunter —  which started the M&A frenzy in 1999 — it is now the one being hunted by a new predator on the prowl (The hunter becomes the hunted — Philequity Corner, May 30, 2005) ."


                    [DatePublished] => 2006-01-16 00:00:00
                    [ColumnID] => 135252
                    [Focus] => 0
                    [AuthorID] => 1357954
                    [AuthorName] => Ignacio B. Gimenez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [7] => Array
                (
                    [ArticleID] => 316194
                    [Title] => BDO offer to acquire EPCIB via share swap a ‘win-win’ situation
                    [Summary] => A study by foreign investment bank UBS said that the share swap offer of Banco de Oro Universal Bank to Equitable PCI Bank is a "win-win" situation.


"We think a merger is timely under the International Accounting Standards (IAS), Banco de Oro estimates a capital adequacy ratio (CAR) of 10- to 11 percent post merger which would eliminate the need for capital raising," UBS said.


UBS’ positive attitude towards a merger after the share-swap takes into consideration EPCI’s goodwill and repossessed properties worth an estimated P15 billion.


                    [DatePublished] => 2006-01-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [8] => Array
                (
                    [ArticleID] => 296677
                    [Title] => EPCI Bank unit faces sanctions
                    [Summary] => Equitable PCI Bank may face a maximum fine of P1 million or the suspension of its permit to sell securities for violation of the Securities Regulation Code.


The surveillance unit of the Securities and Exchange Commission (SEC), Compliance and Enforcement Department (CED), has recommended the imposition of a fine of P10,000 up to P1 million on EPCI Bank and its subsidiary PCI Leasing & Finance Inc. for their failure to comply with securities rules.


The CED also recommended the suspension of the registration certificates of EPCI Bank.


                    [DatePublished] => 2005-09-14 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [9] => Array
                (
                    [ArticleID] => 294140
                    [Title] => Despite ownership shakeup, EPCIB targets still on track
                    [Summary] => Despite its recent ownership and board shakeup, Equitable PCI Bank’s full year financial targets remain on track, its president & CEO Rene J. Buenaventura said.


He said the bank’s better than expected performance in the first half and recent developments in its ownership structure are expected to sustain its growth targets.


                    [DatePublished] => 2005-08-30 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

EPCI

Array
(
    [results] => Array
        (
            [0] => Array
                (
                    [ArticleID] => 362089
                    [Title] => The hunt is over – SM takes control of EPCI
                    [Summary] => Since we came out with our article "The Hunter becomes the hunted (Philequity Corner – May 27, 2005)," there have indeed been a flurry of M&A activity in the banking sector similar to what happened in 1999.  It all started when the SM-BDO group announced in early 2004 its bid to take control of Equitable-PCI Bank (EPCI) by securing a memorandum of agreement with the SSS to purchase the latter’s stake in EPCI. This move eventually led to a court case which blocked the sale of the said shares.


                    [DatePublished] => 2006-10-09 00:00:00
                    [ColumnID] => 135252
                    [Focus] => 0
                    [AuthorID] => 1357954
                    [AuthorName] => Ignacio B. Gimenez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 357528
                    [Title] => Sy Group rules out 3-way merger among BDO, EPCIB, China Bank
                    [Summary] => 



The Sy group said a three-way merger among Banco De Oro, Equitable PCI Bank and China Bank is unlikely at this point.


"Let’s wait for the tender offer to be completed first.  Hopefully, everything would be finished by the end of September or first week of October," said  SM Investments Corp. (SMIC) vice chairman Tessie Sy when asked about the possibilities of a mega-merger between the three banks.


                    [DatePublished] => 2006-09-11 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 354407
                    [Title] => De la Paz says EPCI Bank chairmanship does not violate BSP rules
                    [Summary] => Social Security System (SSS) president and CEO Corazon de la Paz said yesterday that her concurrent position as chairman of the board of Equitable PCI Bank does not violate any regulations on public officials.


This as she clarified that the EPCI Bank board had already amended its by-laws, making the positions of chairman and vice-chairman as non-managerial to comply with the provision on public officials taking private posts.


De la Paz explained that the board passed the resolution last July reclassifying the chairman and the vice-chairman positions as officers. 


                    [DatePublished] => 2006-08-24 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 329774
                    [Title] => TUCP urges GSIS to back down on EPCIB  buying
                    [Summary] => The Trade Union Congress of the Philippines (TUCP) is warning the Government Service Insurance System (GSIS) against hoarding more shares of Equitable PCI Bank (EPCIB). 


The caretaker of the pensions of civil servants plans to sell its 12.4-percent equity stake in EPCIB to an unnamed foreign buyer. 


Former senator and TUCP general secretary Ernesto Herrera dismissed as "preposterous" GSIS‚ reported plan to liquidate a large investment in fixed-income government securities (GS) in order for the government pension fund to have cash to buy more EPCI shares. 

                    [DatePublished] => 2006-04-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 327199
                    [Title] => Banking M&A fever continues– Buy bank stocks
                    [Summary] => Banking consolidation has been the major theme why Philequity has been overweight in the banking sector since 2004. Even if had you bought banking stocks 10 months ago – at the time when we wrote our article titled "The Hunter becomes the hunted – Philequity Corner, May 30, 2005" – chances are, you would be up more than 20 percent. We mentioned, back then, that opportunities abound for a new round of banking speculation similar to what happened in 1999 when Equitable Bank started an M&A frenzy after acquiring and merging with PCI Bank.
                    [DatePublished] => 2006-03-20 00:00:00
                    [ColumnID] => 135252
                    [Focus] => 0
                    [AuthorID] => 1357954
                    [AuthorName] => Ignacio B. Gimenez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 317488
                    [Title] => SEC finds violation in appointment of 2 EPCIB independent directors
                    [Summary] => The Securities and Exchange Commission has found the appointments of Presidential Adviser Roberto Romulo and Cesar Bautista as independent directors of Equitable-PCI Bank in violation of the Securities Regulation Code (SRC).  


Based on the investigation conducted by the SEC’s Compliance and Enforcement Department (SEC-CED), Romulo and Bautista are not fit to sit as independent directors in EPCI Bank subject to the requirements of Sec. 38 of the SRC.


                    [DatePublished] => 2006-01-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 316959
                    [Title] => Banking M&A – The saga continues…
                    [Summary] => Last year, we came out with a series of articles on banking consolidation, saying that opportunities abound for possible M&A deals that could trigger a new round of banking speculation similar to what happened in 1999. In our initial article, we discussed how the table has turned for Equitable PCI Bank (EPCI). "From being a hunter —  which started the M&A frenzy in 1999 — it is now the one being hunted by a new predator on the prowl (The hunter becomes the hunted — Philequity Corner, May 30, 2005) ."


                    [DatePublished] => 2006-01-16 00:00:00
                    [ColumnID] => 135252
                    [Focus] => 0
                    [AuthorID] => 1357954
                    [AuthorName] => Ignacio B. Gimenez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [7] => Array
                (
                    [ArticleID] => 316194
                    [Title] => BDO offer to acquire EPCIB via share swap a ‘win-win’ situation
                    [Summary] => A study by foreign investment bank UBS said that the share swap offer of Banco de Oro Universal Bank to Equitable PCI Bank is a "win-win" situation.


"We think a merger is timely under the International Accounting Standards (IAS), Banco de Oro estimates a capital adequacy ratio (CAR) of 10- to 11 percent post merger which would eliminate the need for capital raising," UBS said.


UBS’ positive attitude towards a merger after the share-swap takes into consideration EPCI’s goodwill and repossessed properties worth an estimated P15 billion.


                    [DatePublished] => 2006-01-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [8] => Array
                (
                    [ArticleID] => 296677
                    [Title] => EPCI Bank unit faces sanctions
                    [Summary] => Equitable PCI Bank may face a maximum fine of P1 million or the suspension of its permit to sell securities for violation of the Securities Regulation Code.


The surveillance unit of the Securities and Exchange Commission (SEC), Compliance and Enforcement Department (CED), has recommended the imposition of a fine of P10,000 up to P1 million on EPCI Bank and its subsidiary PCI Leasing & Finance Inc. for their failure to comply with securities rules.


The CED also recommended the suspension of the registration certificates of EPCI Bank.


                    [DatePublished] => 2005-09-14 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [9] => Array
                (
                    [ArticleID] => 294140
                    [Title] => Despite ownership shakeup, EPCIB targets still on track
                    [Summary] => Despite its recent ownership and board shakeup, Equitable PCI Bank’s full year financial targets remain on track, its president & CEO Rene J. Buenaventura said.


He said the bank’s better than expected performance in the first half and recent developments in its ownership structure are expected to sustain its growth targets.


                    [DatePublished] => 2005-08-30 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest