jpmorgan-wins-cash-mandate-for-the-philippines

JPMorgan wins cash mandate for the Philippines

The new mandate will see JPMorgan provide Robinsons Land with a more efficient method of collecting monthly mortgage payments.
JPMorgan has been awarded a cash management mandate by Robinsons Land Corporation RLC, one of the largest property developers in the Philippines.

Under the new mandate, the US bank will specifically target overseas Filipino workers in the US and Canada who are paying monthly mortgages for properties they have bought from RLC.

The bank says its cash management service will help RLC improve its efficiency in monthly collections globally, via wire transfers, cheques or over-the-counter.

ôOverseas Filipino workers used to postdate their mortgage cheques up to two, three or even five years,ö says Patrick Saw, head of corporates, Southeast Asia at JPMorgan. ôThis posed a problem for RLC because clearing a...
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