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RCBC
makes it to PSEi
RCBC shares have now become a more significant factor
in the local capital markets following its inclusion on the list of the
thirty companies that make up the Philippine Stock Exchange Index (PSEi).
After the PSE’s latest free float-based review of all listed companies,
RCBC was able to gain a slot in the 30-company index which is used as a
major barometer of foreign investor confidence in the Philippine
economy. The PSE conducts a bi-annual review of the free floats of all
publicly-listed corporations to ensure that the index continuously
reflects the performance of the most heavily-traded companies.
RCBC President and CEO Lorenzo V. Tan said he considers the
development both an opportunity and a challenge. "Our (RCBC’s) inclusion
in the index shows the promise and dynamism of RCBC as a stock. It also
poses a challenge for us to keep up with our growth pace and keep our
investors excited with the bank," he said. 2007 proved to be highly
auspicious for RCBC, which posted its highest net income on record of
P3.2 Billion last year. During the same period, global investor outlook
on the bank has been positive as confirmed by the ratings upgrades it
received from international rating agencies Moody’s and Fitch. Two
capital raising exercises undertaken over the past 15 months also
brought in fresh and new funding of P12 Billion for the bank. Its
inclusion in the PSEi was, therefore, expected. |
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Peso
May 2, 2008
Wtd. average
42.345
DN
0.080
Stocks
May 2, 2008
2,722.95
DN
26.82
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