BANK of Commerce, an affiliate of conglomerate San Miguel Corp., on Tuesday said its trade finance business grew more than six times in the last three years given its accelerated support to both small and medium enterprises and larger businesses throughout the Covid-19 pandemic.
Yearend estimates of BankCom’s trade-related contingent liabilities for 2022 are expected to reach over P19 billion average daily balance, or an increase of 637 percent over its 2019 volume of P2.7 billion.
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