Philippine Bank Asset Quality: Reported Versus Reality and Relative Value
Rizal Commercial Banking (RCBPM) and Union Bank of the Philippines (UBPPM) present their respective non-performing loan (NPL) ratios net of...
534 Views
Bank of the Philippine Islands – No Free Pass
*Falling Very Short: Bank of the Philippine Islands (BPI.PM) [BPI] reported 2Q20 results of PHP 5.3 bn – missing consensus by 15% and falling short...
539 Views
Philippine Banks: A Related Party
Related party exposure is material credit negative for several Philippine-headquartered banks. Most, if not all, invested equity is relent back to...
581 Views
BDO Unibank – Is A Capital Raise Next?
*Provision Cover Being Shored Up: On May 31, 2020, BDO Unibank (BDO.PM) [BDO] announced a PHP 20 bn special loan loss provision in anticipation of...
508 Views
Asian Bank HY Credit Weekly: Pockets of Opportunity
Roses are red, liquidity rings true. Although we agree with Guggenheim Partners chief investment officer Scott Minerd’s perspective that “yields...
526 Views