Philippines’ Aboitiz Equity Ventures has agreed for BlackRock's Global Infrastructure Partners to take a 40% stake in Aboitiz InfraCapital; the Philippines government is ramping up infrastructure investment.
Tonik is the first digital-only bank in the Philippines with a banking licence from the BSP. Ukraine's Diligent Capital Partners, which is leading the pre-Series C funding round, has backed founder Greg Krasnov before.
The Philippines is one of the fastest growing markets for renewable energy investment and the $115m of proceeds will be used towards hydro, wind and solar projects in the country.
The $10.45 billion raise from the Bureau of the Treasury will be directed towards sectors including agriculture, infrastructure, education and healthcare.
Siason, who has spent over 15 years with Citi, will relocate to Manila to become chief country officer to replace Michael Chua, who is retiring, on April 1.
Jose Teodoro (TG) Limcaoco, president & chief executive officer of Bank of the Philippine Islands (BPI), outlines his award-winning approach to leadership as he spearheads the bank's digital innovations, revamped brand structure, and "agency banking" thrust – all part of a five-year expansion strategy that aims to make the bank more financially inclusive and add 50 million customers by 2026.
The Philippines used to be the target of jokes about valuation discounts, but now the market is having the last laugh as investors fight for a piece of its potential.
