Profitable banks

Published by rudy Date posted on August 10, 2010

I find it unacceptable for banks to make so much profit when the economy is in bad shape. It implies that their fees are excessive. They charge 9 ½ percent today for commercial loans while they pay only 3.75 percent for a time deposit. The banks’ spread is too big.

Banco de Oro doubled its profit to P4.1 billion in the first half of 2010; Bank of the Philippine Islands posted a P5.6 billion profit for the same period. China Banking registered an 8.6 percent income growth to P2.11 billion; Union Bank reported a P2.2 billion profit and United Coconut Planters Bank jumped 238 percent to P1.14 billion.

Land Bank’s first semester income jumped 28 percent to P4.6 billion. DBP reported a 34 percent increase to P2.83 billion. These two government banks should declare bigger dividends to the National Treasury. BIR Commissioner Kim Henares should audit all the banks to find out if they are padding their expenses and deductions. She should also find out if the bank executives are properly declaring all their salaries, bonuses and allowances, including the use of bank cars by their families.

In the United States, payment by a corporation for the use of cars, groceries and telephone bills by their families is charged as income. –Daily Tribune

July 2025

Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”

Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.

Accept National Unity Government (NUG)
of Myanmar.  Reject Military!

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Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

July


3 July – International Day of Cooperatives
3 Ju
ly – International Plastic Bag Free Day
 
5 July –
World Youth Skills Day 
7 July – Global Forgiveness Day
11 July – World Population Day 
17 July – World Day for
International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons 


Monthly Observances:

Schools Safety Month

Nutrition Month
National Disaster Consciousness Month

Weekly Observances:

Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week

 

Daily Observances:

First Saturday of July:
International Cooperative Day
in the Philippines

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