According to the Chairman and CEO of Double Dragon Properties, the first company to conduct an Initial Public Offering (IPO) this year, the company’s IPO offer was 14 times oversubscribed, a sign that there may be healthy demand for the stock.
Here’s a statistic that some of us might find interesting / surprising / depressing / revolting: The combined wealth of the fifty (50) richest Filipinos is equivalent to roughly one-fourth or 26% of the country’s Gross Domestic Product (GDP).
That’s according to the latest installment of Forbes Magazine’s list of the Philippines’ 50 Richest, an annual compilation of the wealthiest Filipinos based on their net worth.
Last year, we posted a list of the Top 10 Banks in the Philippines, based on total assets and deposits at year-end 2008. We now bring you the list of the Largest Banks in the Philippines, in terms of assets, deposits, and net income, as of year-end 2009.
The list only includes banks headquartered in the Philippines, meaning other banks based in another country but with local operations are not analyzed. Also, since the basis of the financial figures are the financial statements submitted to the Philippine Stock Exchange (PSE), only publicly-listed banks are mentioned. Government- and privately-owned banks whose financial statements are not available to the public are excluded in the list.