MANILA – Rizal Commercial Banking Corp is regaining ground, as it recovered from the fallout of a $81 million (P4.1 billion) money laundering caper, its president said Friday. The Yuchengco-controlled lender fell to 8th from 5th over all but deposit levels are now back to normal, RCBC President Eugene Acevedo said in an exclusive interview with ANC’s The Boss, his first since his appointment. "The main impact of that was we lost a bit of deposits in the first year but I'm happy to report that the levels are back to normal in fact our deposits have been growing. What we really need to do now is go back and what we’ve missed in the last 3 years," Acevedo said. "The objective is, really to make sure that we don’t see other banks overtaking us again. We’re hoping that in the next 3 to 5 years, we’ll be able to fight our way back to no. 5," he added. Its consumer loan business helped offset losses. It's credit card business grew 31 … [Read more...] about RCBC bank ‘fighting its way back’ to the top, president says
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The ANC Brief: Agitation and confusion
Confusion is reigning over statements of President Duterte and his mouthpiece Presidential Spokesperson Salvador Panelo on China fishing in our waters. Here are the stories making the headlines on ANC today: Hot under the collar End of the line Tantrums Trimming a little off the top Director’s cut … [Read more...] about The ANC Brief: Agitation and confusion
The ANC Brief: Sordid turn
The Philippines might have won an arbitral ruling on the China’s claim over parts of the South China Sea in 2016. But it looks like that’s all water under the bridge now. Here are the top stories making the headlines on ANC today: Tolerated Dead in the water Monkey wrench Killing in the name of… Wordsmith … [Read more...] about The ANC Brief: Sordid turn
ANC keeps power in South Africa but scandals cost it votes
JOHANNESBURG: South African President Cyril Ramaphosa led the African National Congress (ANC) to victory in Wednesday's election, but a drop in its share of the vote underlines the challenge he faces restoring confidence in his party.With opponents in the ANC and an emboldened far-left opposition party, the former union leader turned business tycoon may struggle to deliver on his promises to push through tough reforms.Africa's oldest liberation movement won 55.5 per cent of the parliamentary vote, according to provisional results from 99.9 per cent of polling districts. That was its worst parliamentary result since it swept to power at the end of white minority rule but an improvement on its showing in 2016 local elections.Ramaphosa worked closely with South Africa's first black president Nelson Mandela to end white minority rule in 1994. He replaced scandal-plagued Jacob Zuma as head of state in February 2018 after winning a bitter contest to become ANC leader and convincing top party … [Read more...] about ANC keeps power in South Africa but scandals cost it votes
South Africa’s ruling ANC takes lead as votes being counted
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By The Associated Press Thu., May 9, 2019 JOHANNESBURG - Preliminary results show that South Africa’s ruling African National Congress party has an early lead in the national elections but has seen its share of the vote drop significantly. Of the votes counted in 35% of South Africa’s voting districts, the ANC leads with 55%, down from the 62% share it won in the previous elections in 2014, according to results announced Thursday by the electoral commission. The opposition Democratic Alliance has increased its share to 25% of the votes. The populist, leftist Economic Freedom Fighters has increased its share of the vote to nearly 8%. The turnout for the election is 65%, down from 74% in the previous election. Final results are expected to be announced on Saturday. Article Continued Below Report an error Journalistic Standards About The Star TOP STORIES, DELIVERED TO YOUR INBOX. NEW NEWSLETTER HEADLINES SIGN UP … [Read more...] about South Africa’s ruling ANC takes lead as votes being counted