March 5, 2024San Miguel Corporation (SMC) affiliate Bank of Commerce (BankCom) bagged two prestigious awards at the 17th Annual Best Deal and Solution Awards 2023 hosted by prominent Hong Kong-based institutional investment publication, Alpha Southeast Asia. The awards specifically recognized the contributions of BankCom’s Investment Banking Group (IBG) in facilitating key financial transactions for two projects of the SMC Group. The Bank served as Joint Lead Arranger for SMC Mass Rail Transit 7 Inc.’s Php 100 billion syndicated loan facility for the MRT-7 project, and as Joint Lead Underwriter and Joint Bookrunner for SMC’s Php 60 billion fixed-rate retail bonds. “These awards reflect the dedication and expertise of BankCom in navigating complex financial transactions. We are honored to have played a pivotal role in spearheading SMC’s financial endeavors, and we remain committed to delivering exceptional value to their future projects aimed at nation-building,” said BankCom President and CEO Michelangelo R. Aguilar. Recognizing excellence. BankCom IBG Head Martin Villalon and Origination & Execution Division Head Ines Pagdanganan received the awards on behalf of BankCom at the ceremony hosted by Alpha Southeast Asia on January 31, 2024 in Kuala Lumpur, Malaysia. Siddiq Bazarwala (middle), CEO & Publisher of Alpha Southeast Asia, handed the trophies. “Receiving these awards is a tremendous honor, especially as we mark BankCom’s 60th anniversary. It underscores our dedication to leveraging the collective strengths of the SMC Group to deliver top-notch financial services to our valued customers. We extend our heartfelt appreciation to SMC for their confidence in us for these important deals, and we are committed to maintaining their trust through our unwavering commitment to excellence,” he added. For his part, SMC President and Chief Executive Officer Ramon S. Ang said: “At SMC, we believe that nation-building requires not just vision and boldness but also the strategic partnerships and financial expertise to turn that vision into reality. With the many strategic advantages of our diverse but synergistic portfolio, along with the expertise of our affiliate, BankCom, we can spearhead transformative projects that drive the Philippines forward. Together, we are committed to advancing innovation, driving progress, and creating a brighter future for all Filipinos.” Apart from the deals it was recognized for, BankCom also played a vital role in other impactful projects for SMC that have contributed to nation-building. This included the public distribution of bonds for San Miguel Global Power (SMGP) and the financing of key projects like the NAIAx Tramo Extension and SMGP’s battery energy storage systems. BankCom also supported ventures such as Advantage Concrete’s Calatagan, Batangas Integrated Port and Cement Production Plant. Additionally, BankCom arranged funding for the Masinloc Power Partners Co. Ltd.’s thermal power plant in Zambales and facilitated the preferred shares follow-on offerings by Petron and SMC. About Bank of Commerce: BankCom is a publicly listed universal bank, licensed by the BSP. The Bank has been operating since 1963 and traces its origins to the Overseas Bank of Manila with headquarters in Binondo, Manila. In 2008, BankCom became an affiliate of SMC and introduced its new logo bearing the SMC escudo. In December 2020, the Intellectual Property Office (IPO) granted the trademark license for “BankCom” as the Bank’s official short name. The Bank has a network of 140 branches and 264 automated teller machines (ATMs) as of 30 September 2023 strategically located nationwide. Bank of Commerce (BankCom) posted a record net income of ₽2.0 billion for the period ended 30 September 2023, outperforming the full-year 2022 profit of ₽1.8 billion by 12%. The third quarter result is also 35% higher than the ₽1.49 billion net income in the same nine-month period last year. This historic high performance translated to an ROE of 9.27%. Sustained growth in the bank’s core revenue streams, higher interest margins and growth in fee-based income (investment banking, credit card, trust, and trade finance) were the main drivers of the solid performance.