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                    [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
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PEDRO JAMINOLA JR.

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                    [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.  


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                    [AuthorName] =>  Ted P. Torres
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abtest

ARC sells P13.2-B Metrobank NPAs to German bank

By Ted P. Torres | March 10, 2006 - 12:00am

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,...

Business