Meanwhile, foreign investors continued to exit the local market as net foreign selling for the first quarter reached P47.91 billion, up by 55.1 percent from a year ago.
Capital raised at the PSE for both primary and secondary offer shares in the first quarter rose to P41.63 billion from P19.24 billion in the same period last year. Capital-raising activities for the first three months of the year included one initial public offering , one follow-on offering, two stock rights offerings and two private placements.
Average daily value turnover in the first three months of 2021 went up by 64.6 percent year-on-year to P10.99 billion from P6.68 billion. The main stock barometer PSE Index ended the first quarter at 6,443.09, declining by 9.8 percent especially with the resurgence of COVID-19 cases in March. “Uncertainty about the pace of the country’s vaccination program has discouraged foreign investors. But we expect that once a good percentage of the population has been vaccinated, these investors will soon regain confidence in our economy,” Monzon explained. INQ
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BPI eyes acquiring Citi's Philippine retail businessIf a deal is reached, BPI would almost double its retail business, as Citi is among the leading credit card issuers. Singapore branches nalang yata ang i-kekeep ng Citibank.
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BPI eyeing bid for Citi consumer, retail banking businessAyala-led Bank of the Philippine Islands (BPI) is keen on bidding for the Philippine consumer and retail banking business of Citi, which plans to exit this segment as part of a global downsizing program. | Philbizwatcher Philbizwatcher citibank mobile banking is the most user friendly 🥺 Philbizwatcher BPI has weak cybersecurity measure in its digital platform, check this petition. 'PHILIPPINES BANKING SYSTEM REFORMS FOR CLIENTS SAFETY'
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