September 21, 2017, 9:24 am
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1 Philippine Peso = 0.07179 UAE Dirham
1 Philippine Peso = 2.17553 Albanian Lek
1 Philippine Peso = 0.03474 Neth Antilles Guilder
1 Philippine Peso = 0.33168 Argentine Peso
1 Philippine Peso = 0.02434 Australian Dollar
1 Philippine Peso = 0.03495 Aruba Florin
1 Philippine Peso = 0.03909 Barbados Dollar
1 Philippine Peso = 1.57584 Bangladesh Taka
1 Philippine Peso = 0.03196 Bulgarian Lev
1 Philippine Peso = 0.00736 Bahraini Dinar
1 Philippine Peso = 33.8794 Burundi Franc
1 Philippine Peso = 0.01955 Bermuda Dollar
1 Philippine Peso = 0.02626 Brunei Dollar
1 Philippine Peso = 0.13468 Bolivian Boliviano
1 Philippine Peso = 0.06076 Brazilian Real
1 Philippine Peso = 0.01955 Bahamian Dollar
1 Philippine Peso = 1.25293 Bhutan Ngultrum
1 Philippine Peso = 0.19814 Botswana Pula
1 Philippine Peso = 391.32134 Belarus Ruble
1 Philippine Peso = 0.03905 Belize Dollar
1 Philippine Peso = 0.02381 Canadian Dollar
1 Philippine Peso = 0.01878 Swiss Franc
1 Philippine Peso = 12.19703 Chilean Peso
1 Philippine Peso = 0.12797 Chinese Yuan
1 Philippine Peso = 56.56763 Colombian Peso
1 Philippine Peso = 11.20407 Costa Rica Colon
1 Philippine Peso = 0.01955 Cuban Peso
1 Philippine Peso = 1.80414 Cape Verde Escudo
1 Philippine Peso = 0.42683 Czech Koruna
1 Philippine Peso = 3.47146 Djibouti Franc
1 Philippine Peso = 0.12175 Danish Krone
1 Philippine Peso = 0.92005 Dominican Peso
1 Philippine Peso = 2.16386 Algerian Dinar
1 Philippine Peso = 0.25592 Estonian Kroon
1 Philippine Peso = 0.3448 Egyptian Pound
1 Philippine Peso = 0.45563 Ethiopian Birr
1 Philippine Peso = 0.01636 Euro
1 Philippine Peso = 0.0398 Fiji Dollar
1 Philippine Peso = 0.0144 Falkland Islands Pound
1 Philippine Peso = 0.01438 British Pound
1 Philippine Peso = 0.08637 Ghanaian Cedi
1 Philippine Peso = 0.87373 Gambian Dalasi
1 Philippine Peso = 174.19859 Guinea Franc
1 Philippine Peso = 0.14252 Guatemala Quetzal
1 Philippine Peso = 3.99648 Guyana Dollar
1 Philippine Peso = 0.15278 Hong Kong Dollar
1 Philippine Peso = 0.45582 Honduras Lempira
1 Philippine Peso = 0.12205 Croatian Kuna
1 Philippine Peso = 1.20133 Haiti Gourde
1 Philippine Peso = 5.05786 Hungarian Forint
1 Philippine Peso = 258.65911 Indonesian Rupiah
1 Philippine Peso = 0.06872 Israeli Shekel
1 Philippine Peso = 1.25233 Indian Rupee
1 Philippine Peso = 22.81079 Iraqi Dinar
1 Philippine Peso = 654.02658 Iran Rial
1 Philippine Peso = 2.07584 Iceland Krona
1 Philippine Peso = 2.54613 Jamaican Dollar
1 Philippine Peso = 0.01384 Jordanian Dinar
1 Philippine Peso = 2.17369 Japanese Yen
1 Philippine Peso = 2.00743 Kenyan Shilling
1 Philippine Peso = 1.34064 Kyrgyzstan Som
1 Philippine Peso = 79.2025 Cambodia Riel
1 Philippine Peso = 8.08053 Comoros Franc
1 Philippine Peso = 17.59187 North Korean Won
1 Philippine Peso = 22.0045 Korean Won
1 Philippine Peso = 0.00588 Kuwaiti Dinar
1 Philippine Peso = 0.01603 Cayman Islands Dollar
1 Philippine Peso = 6.62568 Kazakhstan Tenge
1 Philippine Peso = 161.53245 Lao Kip
1 Philippine Peso = 29.42533 Lebanese Pound
1 Philippine Peso = 2.98769 Sri Lanka Rupee
1 Philippine Peso = 2.27717 Liberian Dollar
1 Philippine Peso = 0.25762 Lesotho Loti
1 Philippine Peso = 0.05959 Lithuanian Lita
1 Philippine Peso = 0.01213 Latvian Lat
1 Philippine Peso = 0.02655 Libyan Dinar
1 Philippine Peso = 0.18266 Moroccan Dirham
1 Philippine Peso = 0.34275 Moldovan Leu
1 Philippine Peso = 1.00176 Macedonian Denar
1 Philippine Peso = 26.48554 Myanmar Kyat
1 Philippine Peso = 47.84988 Mongolian Tugrik
1 Philippine Peso = 0.15735 Macau Pataca
1 Philippine Peso = 7.05629 Mauritania Ougulya
1 Philippine Peso = 0.65031 Mauritius Rupee
1 Philippine Peso = 0.30336 Maldives Rufiyaa
1 Philippine Peso = 13.99922 Malawi Kwacha
1 Philippine Peso = 0.34428 Mexican Peso
1 Philippine Peso = 0.08176 Malaysian Ringgit
1 Philippine Peso = 0.25704 Namibian Dollar
1 Philippine Peso = 6.88038 Nigerian Naira
1 Philippine Peso = 0.5933 Nicaragua Cordoba
1 Philippine Peso = 0.15326 Norwegian Krone
1 Philippine Peso = 1.99961 Nepalese Rupee
1 Philippine Peso = 0.02667 New Zealand Dollar
1 Philippine Peso = 0.00752 Omani Rial
1 Philippine Peso = 0.01955 Panama Balboa
1 Philippine Peso = 0.06351 Peruvian Nuevo Sol
1 Philippine Peso = 0.06226 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.05629 Pakistani Rupee
1 Philippine Peso = 0.06996 Polish Zloty
1 Philippine Peso = 110.44762 Paraguayan Guarani
1 Philippine Peso = 0.07117 Qatar Rial
1 Philippine Peso = 0.07527 Romanian New Leu
1 Philippine Peso = 1.12619 Russian Rouble
1 Philippine Peso = 16.18804 Rwanda Franc
1 Philippine Peso = 0.0733 Saudi Arabian Riyal
1 Philippine Peso = 0.15296 Solomon Islands Dollar
1 Philippine Peso = 0.26388 Seychelles Rupee
1 Philippine Peso = 0.13018 Sudanese Pound
1 Philippine Peso = 0.15555 Swedish Krona
1 Philippine Peso = 0.02627 Singapore Dollar
1 Philippine Peso = 0.0144 St Helena Pound
1 Philippine Peso = 0.43405 Slovak Koruna
1 Philippine Peso = 146.59891 Sierra Leone Leone
1 Philippine Peso = 10.88741 Somali Shilling
1 Philippine Peso = 400.87765 Sao Tome Dobra
1 Philippine Peso = 0.17103 El Salvador Colon
1 Philippine Peso = 10.06607 Syrian Pound
1 Philippine Peso = 0.25709 Swaziland Lilageni
1 Philippine Peso = 0.64621 Thai Baht
1 Philippine Peso = 0.04766 Tunisian Dinar
1 Philippine Peso = 0.04368 Tongan paʻanga
1 Philippine Peso = 0.06714 Turkish Lira
1 Philippine Peso = 0.13149 Trinidad Tobago Dollar
1 Philippine Peso = 0.58751 Taiwan Dollar
1 Philippine Peso = 43.66693 Tanzanian Shilling
1 Philippine Peso = 0.51173 Ukraine Hryvnia
1 Philippine Peso = 70.19156 Ugandan Shilling
1 Philippine Peso = 0.01955 United States Dollar
1 Philippine Peso = 0.56626 Uruguayan New Peso
1 Philippine Peso = 157.93589 Uzbekistan Sum
1 Philippine Peso = 0.19498 Venezuelan Bolivar
1 Philippine Peso = 444.15559 Vietnam Dong
1 Philippine Peso = 2.06353 Vanuatu Vatu
1 Philippine Peso = 0.04908 Samoa Tala
1 Philippine Peso = 10.72635 CFA Franc (BEAC)
1 Philippine Peso = 0.05278 East Caribbean Dollar
1 Philippine Peso = 10.62119 CFA Franc (BCEAO)
1 Philippine Peso = 1.9398 Pacific Franc
1 Philippine Peso = 4.88468 Yemen Riyal
1 Philippine Peso = 0.25718 South African Rand
1 Philippine Peso = 101.43667 Zambian Kwacha
1 Philippine Peso = 7.07389 Zimbabwe dollar

Investment banks ditch the diet and look to expand

LONDON - After several years of restructuring and regulatory pressure, investment banks have reached a turning point after Donald Trump became American president and can look to grow again, according to a study published on Friday.

“The world has turned upside down post the U.S. elections,” said the joint annual study by Morgan Stanley and management consultants Oliver Wyman.

“This is the first year since we’ve been producing this paper that we’re looking to see a significant shift to the positive in terms of revenue growth, operational leverage and return on equity,” said Magdalena Stoklosa, head of European financials research at Morgan Stanley.

Globally, investment banks have been on an “intensive diet” since 2011 and have shrunk their balance sheets on aggregate by a third, according to the analysis produced in the 7th edition of the “Blue Paper”.

With the global economy appearing to be on a stable footing, the Federal Reserve raising interest rates and political rhetoric pointing to a pause on new banking regulation, growth beckons for an industry reshaped by the global financial crisis.

In three years’ time, return on equity could reach 13 to 14 percent across the industry from 10 to 11 percent currently, the study said.

Regulatory costs are expected to peak in 2017 and decline by as much as 40 percent by the end of 2020.

However, European banks, lagging in their restructuring programmes, are expected to continue to underperform their rivals on the other side of the Atlantic.

U.S. banks could see return on equity rising to 15 percent from 11 percent currently, from a combination of revenue growth and removing costs over the next three years.

European banks are forecast to improve their return on equity to 11.5 percent from 7.5 percent currently, with 75 percent of that uptick driven by cost cutting and only 25 percent by revenue growth.

U.S. banks are sitting on $83 billion of excess capital, which could be used to invest in profitable business lines or paid out in share buybacks or dividends, whilst European banks have a mere $1 billion of excess capital to play with.

Fixed income, currencies and commodities revenues, which faced the brunt of regulation, are forecast to grow 2 percent over the next five years to $119 billion after shrinking to $109 billion from $140 billion over the previous five.

“Unlocking excess capital and collateral turns secular headwinds to tailwinds, powering a sustainable inflection in the global FICC pool for the first time in a decade,” the study said.

“Our bull case “Dares to Dream”. If the US administration’s tax reform, fiscal stimulus, and deregulation agenda is achieved, we would expect much stronger revenue growth and more capital release,” the study said. – Reuters 
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