The Rural Bank of Paranaque is gaining more popularity as it finds itself stuck into swindling controversies linked with its affiliate Legacy Plans.
Well the bank gives high interest rates, very high. Yeah, it's an indication that they are shaky. But they also lend out the money at an even higher rate, around 36% for their microfinancing. That means, they are earning enough to sustain their operations and pay interest to their depositors. That is, if there are borrowers.
So, should you invest in Banco Paranaque, or not? If you have an extra amount of money, then why not? It is a rural bank; your deposit is insured up to a maximum of P250,000.
Will it close down? Well, only time will tell. But if you are really interested in getting interest rates as high as 10% for the short term, and advanced interest of 20% for the long term, and even a free cellphone... then ask yourself if you are willing to spend a day going to PDIC to get your insured deposit. It would just be a day. Or even an hour.
If you think you can, then go for Banco Paranaque. Just make sure to transact inside the bank premises, with authorized bank personel.
More comments and reactions on Rural Bank of Paranaque can be found on the several pages in this link...
Tuesday, June 26, 2007
Friday, June 22, 2007
Mayor Lim should have given way to Danny Lacuna
One day before the elections, May 13, I chanced upon Mayor Fred Lim at the National Bookstore branch in the Mall of Asia.Cool! Dirty Harry with his wife queuing, waiting for their turn at the check out counter.
This man is admirable, and truly deserves another term as City Mayor of Manila.
But think again. Danny Lacuna, who has been vice-mayor for numerous terms, wasn't given
the chance to be the mayor, despite of his 40 long years of dedicated service to the Manilenyos.So did Manilenyos make the wrong decision of reinstalling Lim as mayor? Not really. Both would have served their constituents well, but the downside of electing Lim as mayor this year is...
... Lim won't be able to finish his remaining 3 years as senator of the republic, and thus, we again have a senate with just 23 members, which had happened before, when PGMA and Noli were each elected as VP in 1998 and 2004, respectively. And there have been occasions when members of the senate need to debate or vote on important matters, and by now we should realize that the numbers really count.
A better scenario would have been Lim staying on as senator, and Lacuna assuming the mayoralty post in Manila. We could have had a senate with a complete lineup, and at the same time, still tap the services of Lacuna.
Well, anyway, what the legislators should do now is to fix the problem of letting senators assume other posts and not finishing their terms.
A reverse scenario was that of Lito Lapid. He ran for the mayoralty post in Makati, saying that he does not really fit into the job of a legislator. By admitting that, Lapid should have resigned from the senate to run for mayor. Interestingly, he lost, and he still would enjoy the next 3 years sitting comfortably in the session hall of the senate.
Friday, June 15, 2007
Bubwit chooses The Top 10 Emerging Influential Blogs of 2007
Thanks so much to Janette Toral for this bright idea, see Reflective Thinking - Taking the 8th Habit Challenge.
The Rules
- Write a post listing a maximum of 10 blogs created since August 1, 2006 that you think are the most influential.
- Include a link to the original Top 10 Emerging Influential Blogs of 2007 writing project post.
- Leave a comment on the original writing project post, with a link to your own post, so that your votes can be counted.
- Posts are tallied weekly. The project is on its third week and those blogs who have been voted only once so far will be deleted unless voted again in week 4.
Here are my personal faves:
- Shamanism
- Anitokid
- Force Analytics
- Kikong Kalikot
- Punditocracy
- Information Arbitrage
- 3x + y
- BlogMeister
- The Legal Two-Timer
- The Broken Bow
The final list on August 1!
Monday, June 11, 2007
Extort group irritates BSP
A senior official of the Bangko Sentral ng Pilipinas has expressed disgust over the statements issued to media by an alleged extortion group preying on banks.
The official, who requested anonymity, said in an interview the extortion group, uncovered by the National Bureau of Investigation, is falsely using the name of the BSP to harass its prospective victims.
“Anybody may file a complaint at the BSP against a bank, but what is irregular is that the alleged extortionists would now use the complaint to threaten their victims to give in to their demands or they would publicize their complaint, regardless if the complaint would hold water or not,” said the official.
The official was referring to an article published last Saturday, wherein former banker Honorio C. Bulos, who was blacklisted by the BSP for banking violations, issued a statement allegedly in an attempt to destroy the image of the Rural Bank of Parañaque.
“How can anyone in his right mind do that? A bank is a public trust and it thrives on its image and confidence of the depositors. If anyone has an axe to grind, he or she better use the courts and not just drag the name of the BSP and a banking institution for their personal squabbles,” the official said.
“We are extra cautious in accepting complaints at the BSP so as to protect establishments from opportunists, poseurs and extortionists,” the official added.
The news item also quoted lawyer Felipe Arcilla, allegedly a member of the extortion group, saying the BSP has no jurisdiction over the extension of a bank’s corporate life.
“That man should review his law books or should shift professions,” the BSP official said. “By golly! We are talking of extending the life of a bank, by legal and common sense the BSP should be involved.”
The extortion group’s members reportedly include Victor Fortuna, who was arrested in an entrapment by the NBI for extortion and grave threats, as well as Shahara Abdullah and lawyer Ramon Dino, who were issued warrants of arrest for extortion and libel by Branches 88 and 213 of RTC Quezon City and Mandaluyong, respectively.
The supposed extortion gang is allegedly demanding millions of pesos from RBOP and spreading false information that its corporate life has expired.
“We (BSP) have just given the subject bank a certificate of authority to extend its corporate life for another 50 years last April 30. What do people expect? Of course, everything has to undergo a process,” the official added.
High-risk bank promos alarm regulators
Reposted from:
Inquirer News Service
BANKING regulators are alarmed over high-risk deposit-taking schemes among a number of banks, which are now being investigated for possible violation of rules against unsafe and unsound practices.
In an interview at the sidelines of the recent Financial Sector Forum, Philippine Deposit Insurance Corp. president Ricardo Tan said: "This is a quasi-pyramiding scheme using the PDIC as the fall guy institution, so we're trying to do something about it." Tan said some banks that were offering "double your money" schemes--or about 20 percent a year for five years--might be putting themselves, and PDIC, at risk.
"We know definitely a number of banks that are doing this and we're concerned," he said.
"We're looking into the affiliates of banks that are doing the marketing because this may constitute unfair and unsound banking practice," Tan said.
Tan said that PDIC, the Bangko Sentral ng Pilipinas and even the Securities and Exchange Commission knew about the scheme and were trying to cooperate to find ways to curb these practices.
Asked why the PDIC thought it was similar to a pyramiding scheme, Tan said: "They will say, if you put in P2 million, then split it into several accounts, put them into time deposit and we'll give you goodies [in return]: give you a car, give 20-percent [a year] interest. And for them to sustain this, they have to get more customers."
"In order for them to sustain this kind of activity, they have to keep on getting more and more customers. When the pyramid [collapses] like a house of cards, they know the PDIC is there," he said.
Once a reckless bank collapses due to these risky practices, he said PDIC would be the one obliged to pay off the insured depositors.
"We can't say that we won't pay the insured depositors, but we can look into the practices that are unsafe and unsound and see what we may have against the institutions that are undertaking these irregular practices," Tan said.
The PDIC chief said banking regulators were now studying ways on how to address the looming problem that might be caused by these bank practices.
Tan has been saying that the shutdown of at least seven thrift and rural banks so far this year, for instance, was "no joke" as it had resulted in costly settlements even if these were mostly small lenders.
PDIC has mapped out a strategy to shore up its reserves by at least P50 billion to boost its capital adequacy following the recent spate of costly bank failures. Its current deposit insurance fund of P40 billion was deemed insufficient to cover long-term risk probabilities.
"We've put in place a new sector called financial resources management and comptrollership sector and one of the core functions of this sector is to manage the deposit insurance fund on a more focused and professional basis, going away from mom-and-pop kind of operations," Tan said.
Inquirer News Service
BANKING regulators are alarmed over high-risk deposit-taking schemes among a number of banks, which are now being investigated for possible violation of rules against unsafe and unsound practices.
In an interview at the sidelines of the recent Financial Sector Forum, Philippine Deposit Insurance Corp. president Ricardo Tan said: "This is a quasi-pyramiding scheme using the PDIC as the fall guy institution, so we're trying to do something about it." Tan said some banks that were offering "double your money" schemes--or about 20 percent a year for five years--might be putting themselves, and PDIC, at risk.
"We know definitely a number of banks that are doing this and we're concerned," he said.
"We're looking into the affiliates of banks that are doing the marketing because this may constitute unfair and unsound banking practice," Tan said.
Tan said that PDIC, the Bangko Sentral ng Pilipinas and even the Securities and Exchange Commission knew about the scheme and were trying to cooperate to find ways to curb these practices.
Asked why the PDIC thought it was similar to a pyramiding scheme, Tan said: "They will say, if you put in P2 million, then split it into several accounts, put them into time deposit and we'll give you goodies [in return]: give you a car, give 20-percent [a year] interest. And for them to sustain this, they have to get more customers."
"In order for them to sustain this kind of activity, they have to keep on getting more and more customers. When the pyramid [collapses] like a house of cards, they know the PDIC is there," he said.
Once a reckless bank collapses due to these risky practices, he said PDIC would be the one obliged to pay off the insured depositors.
"We can't say that we won't pay the insured depositors, but we can look into the practices that are unsafe and unsound and see what we may have against the institutions that are undertaking these irregular practices," Tan said.
The PDIC chief said banking regulators were now studying ways on how to address the looming problem that might be caused by these bank practices.
Tan has been saying that the shutdown of at least seven thrift and rural banks so far this year, for instance, was "no joke" as it had resulted in costly settlements even if these were mostly small lenders.
PDIC has mapped out a strategy to shore up its reserves by at least P50 billion to boost its capital adequacy following the recent spate of costly bank failures. Its current deposit insurance fund of P40 billion was deemed insufficient to cover long-term risk probabilities.
"We've put in place a new sector called financial resources management and comptrollership sector and one of the core functions of this sector is to manage the deposit insurance fund on a more focused and professional basis, going away from mom-and-pop kind of operations," Tan said.
Gretch and Ruff
Hmm... I never guessed that I would be writing about showbiz.
Anyway, it is still about politics and business...
Case No. 1: Remember the Jose Pidal scandal? And have you ever wondered why it was suddenly out of the headlines? in just a few weeks?
Case No. 2: How about this one... remember the controversial presidential daughter/actress/TV host who cried that she had been hit and bruised by her live-in partner who was a city mayor? And even leaked that she had contracted STD from him? This made it into the primetime news and stole one full hour from TV Patrol and Saksi.
Well, ayon sa aking bubwit, the whole thing described in Case No. 2 is just a show. Yes, everything was just a showcase of the actress' powers to get controversial and steal the show from other current issues. Some sources say that the Pidal family contracted the services of the controversial TV host in order for the public to completely forget the Jose Pidal scam.
And the show succeeded. It was a win-win situation. For both the TV host and the Pidal family. She gets the show, they get out of trouble.
Now, the controversial TV host has just given birth to a baby boy, also created out of a controversial relationship. She's been gone for a while, and the two other girls, Gretch and Ruff, are stealing the limelight.
What is it with these crazy girls that they love being the star of the show, regardless of how embarrassing it may be? Is it because of the money, paid for being exposed, interviewed, and exploited? What about their morality and ethics? What about their children and family?
I just got a picture from somewhere. I don't know who these are. I don't care! Wala lang, basta may mailagay lang na pic para colorful! (kahit parang nabasa sa ulan at kupas na yung photo)
Anyway, it is still about politics and business...
Case No. 1: Remember the Jose Pidal scandal? And have you ever wondered why it was suddenly out of the headlines? in just a few weeks?
Case No. 2: How about this one... remember the controversial presidential daughter/actress/TV host who cried that she had been hit and bruised by her live-in partner who was a city mayor? And even leaked that she had contracted STD from him? This made it into the primetime news and stole one full hour from TV Patrol and Saksi.
Well, ayon sa aking bubwit, the whole thing described in Case No. 2 is just a show. Yes, everything was just a showcase of the actress' powers to get controversial and steal the show from other current issues. Some sources say that the Pidal family contracted the services of the controversial TV host in order for the public to completely forget the Jose Pidal scam.
And the show succeeded. It was a win-win situation. For both the TV host and the Pidal family. She gets the show, they get out of trouble.
Now, the controversial TV host has just given birth to a baby boy, also created out of a controversial relationship. She's been gone for a while, and the two other girls, Gretch and Ruff, are stealing the limelight.
What is it with these crazy girls that they love being the star of the show, regardless of how embarrassing it may be? Is it because of the money, paid for being exposed, interviewed, and exploited? What about their morality and ethics? What about their children and family?
I just got a picture from somewhere. I don't know who these are. I don't care! Wala lang, basta may mailagay lang na pic para colorful! (kahit parang nabasa sa ulan at kupas na yung photo)
Friday, June 8, 2007
Banco Paranaque
There have been some gossips in tabloids that Banco Paranaque is involved in illegal activities, but the bank has cried foul over these rumors, stating that these allegations were just meant to malign and destroy the reputation of the bank, its affiliates, and their top officials.
Rural Bank of Paranaque was established 1957, now celebrating 50 years of banking. The bank is in healthy operating condition. What is distinct about Banco Paranaque is the high interest rate they offer to depositors. Just like most other rural banks in the country, they are capable of providing high interest for deposits, because they also collect high interest in their microfinancing and other loan products.
We cannot say that rural banks are unstable. Definitely they are incomparable to commercial banks because they cater to a different market, have a different structure, and offer a simpler set of products and services.
Deposits in rural banks are also PDIC-insured, up to a maximum of P250,000. No need to worry if your deposits are within this amount, as we now have a strong and reliable Bangko Sentral and PDIC who stringently monitor the banking industry.
Rural Bank of Paranaque was established 1957, now celebrating 50 years of banking. The bank is in healthy operating condition. What is distinct about Banco Paranaque is the high interest rate they offer to depositors. Just like most other rural banks in the country, they are capable of providing high interest for deposits, because they also collect high interest in their microfinancing and other loan products.
We cannot say that rural banks are unstable. Definitely they are incomparable to commercial banks because they cater to a different market, have a different structure, and offer a simpler set of products and services.
Deposits in rural banks are also PDIC-insured, up to a maximum of P250,000. No need to worry if your deposits are within this amount, as we now have a strong and reliable Bangko Sentral and PDIC who stringently monitor the banking industry.
Thursday, June 7, 2007
Metrobank and ANZ... I want an annulment!
ANZ is among the world-renown financial institutions that provide the best customer service. Based in Australia and New Zealand, ANZ boasts of its charter which aims to serve customers to the best of their ability.
In November 2005, ANZ launched a new Customer Charter with stronger commitments to convenient, simple and responsible banking services. The 2006 Customer Charter sets benchmarks for service to personal and business customers including a formal commitment to lending in a responsible and transparent way.
Back here in Manila, go take a look at your Metrobank Credit Card and you will see the ANZ logo at the back. Hmmm… so Metrobank Card Corporation is a tie-up between Metrobank and ANZ! Wow! What a union!
100% of all Metrobank Credit Card holders I know of have experienced a hell of a problem with their accounts. Talagang bulok! Their customer service is very bad, same is true with their other affiliate PS Bank Mastercard.
I just wonder why ANZ is not doing something to address the problems, if indeed they are part of the Metrobank Card Corporation. I guess with ANZ’s excellent global image, they should not let Metrobank ruin their good name. Metrobank may have the controlling stake of this Card Corporation, but ANZ should find ways to live up to their good name, and if worse comes to worst, should consider breaking up with Metrobank.
In November 2005, ANZ launched a new Customer Charter with stronger commitments to convenient, simple and responsible banking services. The 2006 Customer Charter sets benchmarks for service to personal and business customers including a formal commitment to lending in a responsible and transparent way.
Back here in Manila, go take a look at your Metrobank Credit Card and you will see the ANZ logo at the back. Hmmm… so Metrobank Card Corporation is a tie-up between Metrobank and ANZ! Wow! What a union!
100% of all Metrobank Credit Card holders I know of have experienced a hell of a problem with their accounts. Talagang bulok! Their customer service is very bad, same is true with their other affiliate PS Bank Mastercard.
I just wonder why ANZ is not doing something to address the problems, if indeed they are part of the Metrobank Card Corporation. I guess with ANZ’s excellent global image, they should not let Metrobank ruin their good name. Metrobank may have the controlling stake of this Card Corporation, but ANZ should find ways to live up to their good name, and if worse comes to worst, should consider breaking up with Metrobank.
Tuesday, June 5, 2007
Mula sa anak ng negosyanteng pulitiko
Nag-aaral ako sa La Salle.
Ang dami kong kaklaseng Chinese. Apelyidong Uy, Lim, Tan, Co, Go, Chua, Chi, Sy, Wy, at kung anu-ano pa. Pero sa kanilang lahat kay Gilbert Go ako naging malapit.
Mayaman si Gilbert kaya mangyari pa, madalas siya ang taya sa tuwing gigimik ang barkada.
Isang araw na-ospital ang kanyang ama. Sinamahan ko siya sa pagdalaw. Nasa ICU na noon ang kanyang ama dahil sa stroke. Naron din ang ilan sa kanyang malalapit na kamag-anak. Nag-usap sila. Chinese ang kanilang usapan.... hindi ko maintindihan.
Pagkatapos ng ilang minutong usap-usap, nagkayayaan nang umuwi. Maiwan daw muna ako at pakibantayan ang kanyang ama habang inihahatid nya ang kanyang mga kamag-anak palabas ng ospital. Lumipat ako sa gawing kaliwa ng kama ng kanyang ama para ilapag ang mga iniwan nilang mga gamit na kakailanganin ng magbabantay sa ospital.
Nang akmang ilalapag ko na ay biglang nangisay ang matanda. Hinahabol nya ang kanyang hininga... Kinuyom nya ang kanyang palad at paulit-ulit siyang nagsalita ng wikang Chinese na hindi ko maintindihan."Di ta guae yong khee"..... "Di ta guae yong khee"... "Di ta guae yong khee".. paulit-ulit nya itong binigkas bago siya malagutan ng hininga.
Pagbalik ni Gilbert ay patay na ang kanyang ama. Ikinagulat nya ang pangyayari ngunit marahil ay tanggap na rin nya na papanaw na ang kanyang ama. Walang tinig na namutawi sa kanyang bibig. Ngunit iyon na yata ang pinakamasidhing pagluha na nasaksihan ko.
Nagpa-alam muna ako, dahil siguradong magdadatingan uli ang kanyang mga kamag-anak.Sumakay ako ng taksi pauwi. Habang nasa taksi.. tinawagan ko ang iba pa naming kabarkada.
Una kong tinawagan si Noel Chua.
Dahil marunong si Noel mag-Chinese, tinanong ko muna kung ano ang ibig sabihin ng "Di ta guae yong khee".
"Tinapakan mo ang oxygen ko. "... "Bakit saan mo ba narinig 'yan?".
FULL TANK NAMAN OH!
Ang dami kong kaklaseng Chinese. Apelyidong Uy, Lim, Tan, Co, Go, Chua, Chi, Sy, Wy, at kung anu-ano pa. Pero sa kanilang lahat kay Gilbert Go ako naging malapit.
Mayaman si Gilbert kaya mangyari pa, madalas siya ang taya sa tuwing gigimik ang barkada.
Isang araw na-ospital ang kanyang ama. Sinamahan ko siya sa pagdalaw. Nasa ICU na noon ang kanyang ama dahil sa stroke. Naron din ang ilan sa kanyang malalapit na kamag-anak. Nag-usap sila. Chinese ang kanilang usapan.... hindi ko maintindihan.
Pagkatapos ng ilang minutong usap-usap, nagkayayaan nang umuwi. Maiwan daw muna ako at pakibantayan ang kanyang ama habang inihahatid nya ang kanyang mga kamag-anak palabas ng ospital. Lumipat ako sa gawing kaliwa ng kama ng kanyang ama para ilapag ang mga iniwan nilang mga gamit na kakailanganin ng magbabantay sa ospital.
Nang akmang ilalapag ko na ay biglang nangisay ang matanda. Hinahabol nya ang kanyang hininga... Kinuyom nya ang kanyang palad at paulit-ulit siyang nagsalita ng wikang Chinese na hindi ko maintindihan."Di ta guae yong khee"..... "Di ta guae yong khee"... "Di ta guae yong khee".. paulit-ulit nya itong binigkas bago siya malagutan ng hininga.
Pagbalik ni Gilbert ay patay na ang kanyang ama. Ikinagulat nya ang pangyayari ngunit marahil ay tanggap na rin nya na papanaw na ang kanyang ama. Walang tinig na namutawi sa kanyang bibig. Ngunit iyon na yata ang pinakamasidhing pagluha na nasaksihan ko.
Nagpa-alam muna ako, dahil siguradong magdadatingan uli ang kanyang mga kamag-anak.Sumakay ako ng taksi pauwi. Habang nasa taksi.. tinawagan ko ang iba pa naming kabarkada.
Una kong tinawagan si Noel Chua.
Dahil marunong si Noel mag-Chinese, tinanong ko muna kung ano ang ibig sabihin ng "Di ta guae yong khee".
"Tinapakan mo ang oxygen ko. "... "Bakit saan mo ba narinig 'yan?".
FULL TANK NAMAN OH!
Monday, June 4, 2007
Kavitvahay ni Tongressman
A boy sees his parents doing the "oral" thing:
Boy: Mommy, mommy, what are you doing to daddy?
Mom: Oh, I'm just blowing some air into daddy.
Boy: Mommy, mommy, don't do that. It's useless!
Mom: What? Why is that?
Boy: Because every afternoon, our neighbor comes in our house and together they pump out the air from daddy!!!
:)
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