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By December 15, the Bangko Sentral ng Pilipinas, the Philippines' central bank, has identified two to four people as perpetrators of the hack. These people were neither employees of BDO or Unionbank. [7] Five suspects, two Nigerian nationals and three Filipinos have been arrested in relation to the hack. [8]
The current bank is the product of the Banco de Oro–Equitable PCI Bank merger.The boards of both banks agreed to merge on December 27, 2006. The new BDO Unibank retained the ticker symbol of the old Banco de Oro, and 1.3 billion BDO shares were issued in exchange for 727 million Equitable PCI Bank shares.
This was after fall-out of a rehabilitation deal with Banco de Oro Universal Bank (BDO) but did not push through due to the pending legal matters concerning the bank that stopped short of the deal. Exportbank had liabilities worth around PHP700 to 800 million. [2] In March 2014, Union Bank of the Philippines bought the remains of Exportbank ...
Bank name Assets (millions of PHP) Asset change Rank change 1 BDO Unibank, Inc. 4,508,065.88: 2 Land Bank of the Philippines (LBP) 3,325,085.09: 3 Metropolitan Bank and Trust Company (Metrobank) 3,096,992.46: 4 Bank of the Philippine Islands (BPI) 3,090,565.38: 5 China Banking Corporation (Chinabank) 1,678,975.53: 6 Rizal Commercial Banking ...
In October, U.S. officials said TD bank employees received at least $57,000 in gift cards in 2020 and 2021 from one criminal who moved more than $400 million in transactions through the bank.
The Banco de Oro-Equitable PCI Bank merger (2004–2006) was a plan by the SM Group of Companies and Banco de Oro Universal Bank, the then fifth-largest bank in the Philippines, to merge with Equitable PCI Bank, the third-largest bank. The merger was part of a long-term goal of Banco de Oro to become one of the largest names in the Philippine ...
The level of cash under management fell to 3.9% in December, triggering a "sell signal" in the stock market. When cash dips to that level, global stocks typically decline 2.4% in the following month.
"Since 2011, there have been 11 prior 'sell' signals which saw global equity returns of -2.5% in the 1 month after and -0.8% in the 3 months after the 'sell' signal was triggered," Bank of America ...