Roman Catholic Archbishop of Manila recorded rich proprietor of BPI reaching Php30B - The Daily Sentry

Tuesday, September 11, 2018

Roman Catholic Archbishop of Manila recorded rich proprietor of BPI reaching Php30B

Image credit to the Asian Policy
At P100 per share that makes the Manila Archdiocese extremely rich with paper wealth of P32.79

If the value would be measured by the sums that the BPI paid its management team in years 2013 and 2014, the Bank executives are turned out to be exceptionally expensive.

Catholic church in Manila. Image credit to The Volatilian
The Catholic Church in the Philippines has such a great amount to give on the off chance that she would sell her holdings in BPI. As of Friday, the worth of the Church's possessions in the bank approached P32B, however it isn't selling that: Hence, that is the thing that could be uplifting news to the poorest of the poor among Catholics.

Consider that the following compensation data separated from BPI filings posted on the site of the Philippines stock exchange: 

BPI paid its executives P4.587B in which was generally around 55.318% of the P8.292B in payment and fringe benefits it paid them and whatever is left of its employees in year 2013. The next year the bank’s executive compensation increase to P5.151B in which was represented 53.836% of P9.568B in compensation and fringe benefits pad for that year.

Image credit to Our Daily Revelations PH
A total of P9.738B was paid to the BPI’s management team from the chairman of the board down to the last executive, these numbers tells the public that over that this is happened in the last two years in BPI that is controlled by the Zobel family.

In year 2013, as detailed in a compensation filing, BPI’s kindness to its top 5 executives totaled P193.962M, as detailed in a compensation filing. The sum consisted of salaries, P101.089M and bonuses, P92.873M. This somewhat expanded to P195.732M out of 2004, which was separated into salaries, P131.618M and rewards, P64.114M.

In Focus: Jaime Zobel de Ayala and Family (Ayala Corporation & Premio Zobel). Image credit to SupereXtraordinarisimo
BPI gauges the five-man team’s pays and perks will bring down at P194.643M with pay rates adding up to P126.682M and bonuses P67.861M for the year 2015.

The public be deluded into trusting BPI’s generosity begins at home, Jaime Augustus Zobel and his brother, Fernando Zobel, the chairman of BPO and its vice chairman are not among the bank’s five most generously compensated executives.

The compensation of BPI reached to the multi-billion peso level in the lower official sections.  BPI paid for "all other anonymous officers" P4.393B in compensation, separated into salaries of P3.816B and bonuses of P577.104M.

It paid them almost P5B at P4.955B of which compensations added up to P4.319B and bonuses, P636.47M for the following year. And it estimates the anonymous executives’ compensation at P4.909B, divided into salaries of P4.234B and bonuses of P674.961M at this year.

In 2013 as stated by the PSE posting the BPI enlisted net profit of P14.468B out of 2013 in which in 2014 fell 8.28% to P13.23B ins spite of interest income that increased by 15.569% in year 2014 to P31.963B from P27.657B in year 2013.

In year 2012 BPI detailed net profit of P16.50B, in year 2013, P18.994B and in year 2014, P18.062B. BPI likewise uncovered the profits that it paid its stockholders in which have been diminished to P1.80 per share in every one for the last two years,  in year 2012 a major decrease from P2.30 share.

Image credit to MindaNation
(P1.80 per share dividend translates to 1.8 percent return per share computed on BPI’s closing price of P100 on Friday.)

The profits were paid in two tranches of P0.90 per share in years 2013 and 2014. These decreased BPI’s surplus to P76.575B by Dec. 31, 2014. The 15 individuals by any chance from the BPI board got an aggregate compensation of P35M, or P2.33M each and a bonus of P1.009M each in year 2013. As a group, in year 2014 they got P39.2M, or P2.613M each; and a reward of P1.549M each. An arrangement including all out pays and livens of P3.712M each isn't awful for the bank's six independent chiefs.

As of March 6, BPI had 3.929B remarkable offers, of which the public 1.855B, or 47.213 %. In view of these most recent figures, its three chief investors hold an aggregate of 2.038B offers, or 61.82 percent. These are Ayala Corporations with 858.599M offers, or 21.83 percent; Ayala DBS Holdings Inc., 837.631M offers, or 21.3 percent; and AC International Finance Limited, 341.845M offers, or 8.69%.

And at P100 per share that makes the Manila Archdiocese extremely rich with paper wealth of P32.79B, a PSE posting recorded the Roman Catholic Archbishop of Manila as proprietor of 327.904M BPI shares, or 8.339%.  Ayala Corporations, thus, is claimed by the following investors: Mermac Inc., which is the unlisted holding organization of the Zobels, with 49.0261% in like manner shares and 56.5343% voting shares, while Mitsubishi Corp. holds 10.183% in like manner shares and 11.681% in all out voting shares.


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Source: Manila Times