May 24, 2018, 2:19 pm
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1 Philippine Peso = 0.07022 UAE Dirham
1 Philippine Peso = 2.04971 Albanian Lek
1 Philippine Peso = 0.03427 Neth Antilles Guilder
1 Philippine Peso = 0.46553 Argentine Peso
1 Philippine Peso = 0.02521 Australian Dollar
1 Philippine Peso = 0.03403 Aruba Florin
1 Philippine Peso = 0.03824 Barbados Dollar
1 Philippine Peso = 1.6174 Bangladesh Taka
1 Philippine Peso = 0.0318 Bulgarian Lev
1 Philippine Peso = 0.00722 Bahraini Dinar
1 Philippine Peso = 33.47954 Burundi Franc
1 Philippine Peso = 0.01912 Bermuda Dollar
1 Philippine Peso = 0.02536 Brunei Dollar
1 Philippine Peso = 0.13117 Bolivian Boliviano
1 Philippine Peso = 0.07028 Brazilian Real
1 Philippine Peso = 0.01912 Bahamian Dollar
1 Philippine Peso = 1.30067 Bhutan Ngultrum
1 Philippine Peso = 0.19226 Botswana Pula
1 Philippine Peso = 382.79159 Belarus Ruble
1 Philippine Peso = 0.0382 Belize Dollar
1 Philippine Peso = 0.02445 Canadian Dollar
1 Philippine Peso = 0.01907 Swiss Franc
1 Philippine Peso = 12.17151 Chilean Peso
1 Philippine Peso = 0.12202 Chinese Yuan
1 Philippine Peso = 54.9522 Colombian Peso
1 Philippine Peso = 10.70612 Costa Rica Colon
1 Philippine Peso = 0.01912 Cuban Peso
1 Philippine Peso = 1.78834 Cape Verde Escudo
1 Philippine Peso = 0.41644 Czech Koruna
1 Philippine Peso = 3.3891 Djibouti Franc
1 Philippine Peso = 0.12076 Danish Krone
1 Philippine Peso = 0.94646 Dominican Peso
1 Philippine Peso = 2.21398 Algerian Dinar
1 Philippine Peso = 0.25367 Estonian Kroon
1 Philippine Peso = 0.34149 Egyptian Pound
1 Philippine Peso = 0.52008 Ethiopian Birr
1 Philippine Peso = 0.01621 Euro
1 Philippine Peso = 0.03927 Fiji Dollar
1 Philippine Peso = 0.01423 Falkland Islands Pound
1 Philippine Peso = 0.01423 British Pound
1 Philippine Peso = 0.08859 Ghanaian Cedi
1 Philippine Peso = 0.89503 Gambian Dalasi
1 Philippine Peso = 172.06501 Guinea Franc
1 Philippine Peso = 0.14027 Guatemala Quetzal
1 Philippine Peso = 3.93289 Guyana Dollar
1 Philippine Peso = 0.15004 Hong Kong Dollar
1 Philippine Peso = 0.45428 Honduras Lempira
1 Philippine Peso = 0.11999 Croatian Kuna
1 Philippine Peso = 1.19751 Haiti Gourde
1 Philippine Peso = 5.1499 Hungarian Forint
1 Philippine Peso = 271.08987 Indonesian Rupiah
1 Philippine Peso = 0.06827 Israeli Shekel
1 Philippine Peso = 1.30228 Indian Rupee
1 Philippine Peso = 22.63862 Iraqi Dinar
1 Philippine Peso = 804.0153 Iran Rial
1 Philippine Peso = 1.99809 Iceland Krona
1 Philippine Peso = 2.38145 Jamaican Dollar
1 Philippine Peso = 0.0135 Jordanian Dinar
1 Philippine Peso = 2.12293 Japanese Yen
1 Philippine Peso = 1.91587 Kenyan Shilling
1 Philippine Peso = 1.30863 Kyrgyzstan Som
1 Philippine Peso = 77.2065 Cambodia Riel
1 Philippine Peso = 7.91109 Comoros Franc
1 Philippine Peso = 17.20841 North Korean Won
1 Philippine Peso = 20.57725 Korean Won
1 Philippine Peso = 0.00577 Kuwaiti Dinar
1 Philippine Peso = 0.01568 Cayman Islands Dollar
1 Philippine Peso = 6.29369 Kazakhstan Tenge
1 Philippine Peso = 159.08222 Lao Kip
1 Philippine Peso = 28.77629 Lebanese Pound
1 Philippine Peso = 3.0153 Sri Lanka Rupee
1 Philippine Peso = 2.55793 Liberian Dollar
1 Philippine Peso = 0.24207 Lesotho Loti
1 Philippine Peso = 0.05829 Lithuanian Lita
1 Philippine Peso = 0.01187 Latvian Lat
1 Philippine Peso = 0.02595 Libyan Dinar
1 Philippine Peso = 0.18017 Moroccan Dirham
1 Philippine Peso = 0.31807 Moldovan Leu
1 Philippine Peso = 0.99293 Macedonian Denar
1 Philippine Peso = 25.85086 Myanmar Kyat
1 Philippine Peso = 45.83174 Mongolian Tugrik
1 Philippine Peso = 0.15455 Macau Pataca
1 Philippine Peso = 6.76864 Mauritania Ougulya
1 Philippine Peso = 0.65679 Mauritius Rupee
1 Philippine Peso = 0.29771 Maldives Rufiyaa
1 Philippine Peso = 13.64149 Malawi Kwacha
1 Philippine Peso = 0.37878 Mexican Peso
1 Philippine Peso = 0.07606 Malaysian Ringgit
1 Philippine Peso = 0.24208 Namibian Dollar
1 Philippine Peso = 6.88337 Nigerian Naira
1 Philippine Peso = 0.59598 Nicaragua Cordoba
1 Philippine Peso = 0.15388 Norwegian Krone
1 Philippine Peso = 2.08185 Nepalese Rupee
1 Philippine Peso = 0.02752 New Zealand Dollar
1 Philippine Peso = 0.00735 Omani Rial
1 Philippine Peso = 0.01912 Panama Balboa
1 Philippine Peso = 0.0627 Peruvian Nuevo Sol
1 Philippine Peso = 0.06117 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.20841 Pakistani Rupee
1 Philippine Peso = 0.06955 Polish Zloty
1 Philippine Peso = 107.60994 Paraguayan Guarani
1 Philippine Peso = 0.06959 Qatar Rial
1 Philippine Peso = 0.07495 Romanian New Leu
1 Philippine Peso = 1.17737 Russian Rouble
1 Philippine Peso = 16.18375 Rwanda Franc
1 Philippine Peso = 0.0717 Saudi Arabian Riyal
1 Philippine Peso = 0.15039 Solomon Islands Dollar
1 Philippine Peso = 0.26023 Seychelles Rupee
1 Philippine Peso = 0.34331 Sudanese Pound
1 Philippine Peso = 0.16581 Swedish Krona
1 Philippine Peso = 0.02562 Singapore Dollar
1 Philippine Peso = 0.01424 St Helena Pound
1 Philippine Peso = 0.42459 Slovak Koruna
1 Philippine Peso = 149.13958 Sierra Leone Leone
1 Philippine Peso = 10.7457 Somali Shilling
1 Philippine Peso = 397.36138 Sao Tome Dobra
1 Philippine Peso = 0.1673 El Salvador Colon
1 Philippine Peso = 9.84665 Syrian Pound
1 Philippine Peso = 0.24215 Swaziland Lilageni
1 Philippine Peso = 0.61434 Thai Baht
1 Philippine Peso = 0.04906 Tunisian Dinar
1 Philippine Peso = 0.04426 Tongan paʻanga
1 Philippine Peso = 0.08746 Turkish Lira
1 Philippine Peso = 0.12714 Trinidad Tobago Dollar
1 Philippine Peso = 0.57119 Taiwan Dollar
1 Philippine Peso = 43.51816 Tanzanian Shilling
1 Philippine Peso = 0.49847 Ukraine Hryvnia
1 Philippine Peso = 71.12811 Ugandan Shilling
1 Philippine Peso = 0.01912 United States Dollar
1 Philippine Peso = 0.59981 Uruguayan New Peso
1 Philippine Peso = 152.58126 Uzbekistan Sum
1 Philippine Peso = 1501.96941 Venezuelan Bolivar
1 Philippine Peso = 435.35373 Vietnam Dong
1 Philippine Peso = 2.08088 Vanuatu Vatu
1 Philippine Peso = 0.0494 Samoa Tala
1 Philippine Peso = 10.62849 CFA Franc (BEAC)
1 Philippine Peso = 0.05163 East Caribbean Dollar
1 Philippine Peso = 10.62849 CFA Franc (BCEAO)
1 Philippine Peso = 1.92218 Pacific Franc
1 Philippine Peso = 4.7782 Yemen Riyal
1 Philippine Peso = 0.24216 South African Rand
1 Philippine Peso = 99.22562 Zambian Kwacha
1 Philippine Peso = 6.91969 Zimbabwe dollar

PH capital markets need to be more inclusive, innovative

The Philippine capital markets may have had significant developments over the years but remain relatively small compared to other emerging economies in Asia. 

In a span of five years, Philippine corporations have already raised over P1.7 trillion from around five to eight initial public offerings (IPOs) and 10 to 15 corporate bond deals a year. 

Retail investors have also stepped up especially for local equity and fixed income deals and now account for 50 percent to 70 percent of the volume, compared to previous years where institutions take up around 60 percent to 70 percent.

 Although the scenario has gotten better, the number of IPOs and bond issues in the country still pale in comparison to other emerging economies in the region. 

And while participation from retail investors has increased, most of the investors are coming from the more affluent retail, leaving a huge untapped market such as the OFWs and the unbanked sector. 

The challenge, according to BDO Capital and Investment Corp. president Eduardo V. Francisco, is to make the local capital markets more inclusive, enabling the ordinary man on the street to invest in stocks and bonds. 

Speaking before capital market participants during the recent Euromoney Philippine Investment Forum, Mr. Francisco emphasized there is more to increasing financial literacy in the country to achieve inclusivity and be able to make the local capital markets at par with that of developed countries. 

One of the solutions, he suggested, is not only to digitize but also to rid of too many touchpoints for IPO or bond subscriptions as these are roadblocks to encouraging many to invest in the capital markets. 

He added subscribing to equities and bonds in the country is too cumbersome due to the numerous documents, forms, and IDs required. 

“Our Monetary Board, Securities and Exchange Commission (SEC), Philippine Stock Exchange are open to new ways to raise the number of investors and make it more available to the masses.

 We have seen them liberalize rules but we need to propose new products or solutions,” Mr. Francisco said. He added the Philippines should also look into new platforms and models from abroad which the country can adopt particularly innovative solutions that would minimize documentation.

“Foreign players with platforms abroad are welcome to bring it here.

Fintech solutions are also welcome and we can work with the regulators to get approvals,” he added. 

BDO Capital is a full service investment house wholly owned by BDO Unibank that provides securities underwriting and trading; loan syndication; financial advisory; and private placement of debt and equity, among others. 

BDO, the country’s biggest lender, continued to dominate the Philippine banking industry as it earned P20.4 billion in the first nine months of last year.

This is 5 percent higher compared to its earnings of P19.3 billion during the same period last year.

BDO is ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of the first six months of this year.

The Henry Sy-led bank said the increase was due to “sustained growth in its core lending, deposit-taking and fee-based businesses.”

“With a strong capital base, solid business franchise and extensive geographic reach, the bank is well-positioned to take full advantage of the country’s growth opportunities and further strengthen its dominance in the industry,” BDO said in a statement.

The bank’s capital base stood at P294.7 billion during the first nine months, with Common Equity Tier 1 (CET1) and Capital Adequacy Ratio (CAR) both remaining comfortably above the current regulatory minimum under the Basel III framework at 13.4 percent and 15.1 percent, respectively.

On a normalized basis, BDO said net income would have grown by 17 percent “after excluding extraordinary items primarily related to the consolidation of the Bank’s life insurance business (BDO Life) in 2016.”

Asset growth was funded by the 15 percent hike in total deposits to P2.1 trillion, powered by the 20 percent growth in Current Account/Savings account (CASA), representing 73 percent of total deposits.

The bank remained prudent and set aside P4 billion in provisions even as gross nonperforming loan (NPL) ratio and NPL cover remained steady at 1.3 percent and 136 percent, respectively.

BOO has one of the largest distribution networks, with more than 1,100 operating branches and over 3,800 ATMs nationwide. It also has a branch in Hong Kong as well as 26 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.

Last August, BDO issued $700 million in Fixed Rate Senior Notes under the bank’s Medium Term Note Program.

This was the second drawdown under the program following the $300 million issued in October last year.

The issuance was part of the bank’s liability management initiatives to tap longer-term funding sources to support BDO’s lending operations and general corporate purposes.
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