Current News and Updates

Positive Outlook
University of Asia & the Pacific (UA&P)’s, Dr. Emilio Antonio Jr., painted a positive outlook for the rest of the year during the Bank of Commerce (BOC)’s series of economic briefing for its clients at the Makati Shangri-la Hotel last May 15-16. Antonio provided the national macroeconomic perspectives in the well-attended affair which is an annual service of the BOC for its clients.
(lifted from The Philippine Star, Business Section, May 28, 2008)

SMC takes 51% stake in Bank of Commerce
The San Miguel Group (SMC) is taking a majority stake in a medium-sized commercial bank as part of its diversification strategy.

In a disclosure to the Philippine Stock Exchange, SMC said its property subsidiary San Miguel Properties and its retirement fund planned to increase their stake in Bank of Commerce to 51 percent from 34 percent. No price was put on the purchase.

Two units bought the initial stake in the bank about seven months ago for around P2 Billion. Bank of Commerce had a net income of 528.1 Million, with total assets of P76.7 Billion.
(lifted from The Philippine Star, Wednesday May 21, 2008)

Bank of Commerce Hits New Performance Records in 2007 (February 12, 2008)
Bank of Commerce had a great finish for a great year, performing beyond its financial targets in terms of both profitablity and growth, with Net Income After Tax before Provision for Losses of P983 million, and a Net Income After Tax and after provisions at P504 million.

The Bank reckons that in 2007, net interest income exceeded total operating expenses, where Net Interest Income escalated by P671 million or 34.9%, totaling P2.6 billion. “We had set out to ensure that in 2007, one of our main indicators of success – the despite the odds posed by falling rates and fierce competiton – would be how well our net interest income would cover for operating expenses. This we have attained, and more. Indeed, our success was a combination of efforts in actively growing loans and deposit volumes, astute funds management, and efficient cost management. " More..

Bank of Commerce Received Citation (February 12, 2008)
The bank received Certificate of Appreciation from Citi (Citibank) for being an active participant of the Philippine Domestic Dollar Transfer System. The certificate of appreciation was received by Mr. Alex Brillon of the Foreign Exchange Department. Given November 2007 during the Citi Annual Financial Institutions Conference.

Bank of Commerce Officers Promoted (February 28, 2008)
The Board of Directors has approved several promotions effective 01 March 2008 More..

Bank of Commerce Strengthens Its Compliance and Risk Management Capability February 28, 2008
Pursuant to BSP Circular No.145, requiring the appointment of a full-tine Compliance Officer, the Board of Directors has approved the reassignment of the following Senior Officers effective 01 March 2008. More..

Bank of Commerce Going Online (March 3, 2008)
Recently, the Bank and Solutions Exchange Inc. signed a contract that will enable Bank of Commerce to go into internet banking. Dubbed as bCommerce, this online banking initiative will allow both BCBankers and clients to do their transactions such as fund transfer, bills payment, check management, (current accounts), business banking and other services and tools in the comfort of their home or office or without the hassle of falling in line. More..

Bank of Commerce participates in Syndication (March 4, 2008)
Bank of Commerce participated in Stradcom International Holdings, Inc. (SIHI)'s P2.0 billion Equity and Loan syndication supported by other companies like First Metro Investment Corp., Republic Glass Holdings Corp., Pentacapital Management Corp. and Philippine Veterans Bank. More..