Banco De Oro Unibank, Inc. expected to Report Fiscal Year 2009 Results on January 18, 2010. This event was calculated by Capital IQ (Created on October 28, 2009).

Banco De Oro Unibank Inc. reported earnings results for the third quarter and nine months ended September 2009. For the quarter, the company reported that net profit reached PHP 1.9 billion ($40.4 million), a sharp increase from the PHP 819.7 million loss in the year-earlier period, which reflected exposure to collapsed US investment bank Lehman Brothers Holdings Inc. In the nine months to September, the bank announced that net profit increased to PHP 4 billion from PHP 1.56 billion in the year-earlier period as net interest income increased 31% on year to PHP 22.3 billion. The company provided earnings guidance for the full year 2009. The company was optimistic about meeting its net profit target of PHP 5.5 billion in 2009.

It is learnt that, Banco De Oro Unibank, Inc. is in talks to acquire a controlling stake in Export and Industry Bank Inc. As per sources, Banco De Oro is working on a deal to take over Export and Industry Bank, as it wants to gain an edge over Rizal Commercial Banking Corp. Banco De Oro’s Chair, Teresita Sy, when asked if the deal was near, said: “I know there has been exploratory discussion, but I don’t think its in the final stage. There are discussions on some items on the table, but (I) don’t know when there will be (an) agreement.” “We explore because we need branch license. If there’s an acquisition possibility, we like to check,” Sy said. Export and Industry Bank’s chair Jaime Gonzales, when asked for an update on talks with prospective investors, said: “Our discussions with the potential investors are proceeding very well and we expect to make a decision very soon.” It was reported earlier that Rizal Commercial Banking was in advanced stage of negotiations with Export and Industry Bank shareholders. Export and Industry Bank has mandated Citigroup to help evaluate the buy-in proposals.