by Penny Angeles-Tan | Mar 17, 2018 | Business
The Philippines’ inflation rate has risen to 4% year on year in February, a three-year high, from an average of 2.9% in 2017 (using the new 2012 Consumer Price Index base year). While bond yields have risen in 2017, policy rates have yet to increase.
This was among the topics discussed in the recent Citigold 2018 Annual Market Outlook Briefing, “Navigating A Maturing Bull Market” attended by more than 600 Citi customers in the cities of Taguig, Mandaluyong and Cebu.
Also on the agenda was the United States economy. The briefing heard that the United States is showing early signs of inflation that may have implications for both Asia and Europe. However, the good news from the speakers was that they expect no serious financial consequences and remained bullish on Philippine and select global financial markets as these continue to present potential investment opportunities.
Ramon Melchor Tejero, Investment Product Head of Citicorp Financial Services and Insurance Brokerage Philippines Inc., said, “We believe that the recent decline in markets was caused by the sudden change in sentiment among investors related to inflation and rising interest rates.”
Aftab Ahmed, Citi Philippines Chief Executive Officer said, “This is Citi’s 116th year of serving the Philippines and we owe our continued leadership in the country’s banking sector, to the loyal support of our valued clients. Our wealth managers are committed to guiding our clients make sound investment decisions.”
“We are also enhancing our digital capabilities to make our services more accessible to everyone who banks with us. Our priority remains to be the best through the eyes of our clients. Our goal remains one of delivering a strong value proposition.”
Manoj Varma, Citibank Consumer Business Manager, shared Ahmed’s optimism “because of the opportunities and growth I see in the Philippines.” Varma said, “The Philippines remains as one of the fastest growing economies in the world. The demographics are supportive of growth. The population is young, productive, and growing. The financial industry still sees a lot of opportunities.”
The Philippine economy remains robust with a gross domestic product (GDP) growth of 6.7% in 2017. GDP growth is expected to accelerate to 6.9% this year because of the government’s infrastructure spending and higher private sector consumption both supported by the recent tax reform law. Business Process Outsourcing (BPO) revenues and Overseas Filipino Workers (OFWs) remittances are both expected to continue to grow steadily especially with the recent strengthening of the U.S. Dollar.
With the latest market forecasts, Tejero suggested that, overall, the current environment calls for staying diversified, riding the structural trends like Asian growth and the technology sector, positioning for higher interest rates, and coping with an eventual weaker U.S. Dollar.
Varma said Citigold is constantly innovating to serve clients better. “Citigold has and will continue to invest in digital and mobile capabilities that will allow our clients to manage all their investments in one place,” he said. “Citi has also partnered with the Wharton Business School to help train our people and make them even better in relationship management. The recent market leading product launches will continue and this is something that we are passionately pursuing for our clients.”
You can start your Citigold relationship today and get up to two roundtrip tickets to Japan plus up to PHP77,000 in cash credits. Visit www.citibank.com.ph for more details.
by Penny Angeles-Tan | Feb 28, 2018 | Business
Asian Institute of Management
KPMG R.G. Manabat & Co. (KPMG RGM & Co.), the Philippine member firm of KPMG International, recently held Let’s Talk Tech – a series of IT discussions on Artificial Intelligence (AI) and Robotics Process Automation (RPA), Data & Analytics (D&A), Blockchain and Tax Intelligence Solution (TIS), at the Asian Institute of Management in Makati City.
It also launched its 2018 annual investment guide entitled IT Report: Philippines which highlights the dynamism of the IT-BPM industry which has proven to be among the country’s economic game changers for the past 20 years or so and will continue to provide support for strong growth in the years to come.
Present during the event were: (from left) KPMG RGM & Co. vice chairman and chief operating officer Emmanuel P. Bonoan, KPMG Australia’s Michael Rochanakij, KPMG RGM & Co. chairman and chief executive officer Sharon G. Dayoan, IT veteran Joel H. Garcia, KPMG RGM & Co. tax partner Leandro Ben M. Robediso, advisory partners Jallain S. Manrique and Michael H. Guarin.
by Penny Angeles-Tan | Aug 28, 2017 | Banking, Finance, and Cryptocurrency
Today’s young professionals are ambitious and often on-the-go. They work hard and at the same time want to pursue their own passions. As they focus on their careers, they want to maintain a work-life balance, and ensure that they are also preparing for their ultimate ambitions. Some would want to travel around the world, have their own business, or pursue a pricey hobby like golf or scuba diving.
AXA Philippines has launched MyAmbition, an affordable investment and life insurance plan that you can avail of online.
Recognizing the need for investment and protection of today’s discerning consumers, AXA has launched MyAmbition, an affordable investment and life insurance plan that you can avail of online. Designed with your busy lifestyle in mind, the convenience of availing of an investment product with just a few clicks gives you an attractive option to help fulfill your ambitions in life.
MyAmbition can be availed of with a one-time investment that starts at only P50,000, a great opportunity to put that 13th month bonus or extra savings to better use. You can also invest up to a maximum of P125,000. The funds are professionally-managed by the AXA group to give you security and peace of mind.
MyAmbition gives you a range of options to suit your risk profile and financial goals. There’s an investment fund for conservative investors, a balanced fund for those who have a moderate appetite for risk, and an aggressive growth fund for those who want to maximize the potential of their investments.
Application is easy. Just visit www.axa.com.ph, and click on MyAmbition. You can assess your investment profile, pick an investment portfolio, and pay for the policy with your credit card. Debit card and other online payment options are also available.
Rahul Hora, President and CEO of AXA Philippines
“Our innovative digital solutions address the unique demands of digital natives. You can avail of MyAmbition through our e-commerce site. You can also download MyAXA, the mobile app that allows our clients to access policy information anytime, anywhere.” says Rahul Hora, President and CEO of AXA Philippines.
On top of these benefits and conveniences, MyAmbition gives you life insurance coverage of 125% of the single premium or the Account Value, whichever is higher. Should you choose to keep your funds longer, you can receive a Loyalty Bonus of 5% of the average account value to be paid on the 10th and 20th year.
Amor Balagtas, AXA Philippines Chief Customer Officer
“We understand the needs of today’s professionals. MyAmbition takes their lifestyle needs into consideration – it is affordable, available online, easy to purchase, can meet various investment considerations, and is payable via a credit card.
MyAmbition’s combined offering of affordability, convenience, and flexibility will definitely help young and mature Filipino professionals achieve their financial goals and fulfill their ambitions,” adds AXA Philippines Chief Customer Officer Amor Balagtas.
About the AXA Group
The AXA Group is a worldwide leader in insurance and asset management, with 166,000 employees serving 107 million clients in 64 countries. In 2016, IFRS revenues amounted to Euro 100.2 billion and IFRS underlying earnings to Euro 5.7 billion. AXA had Euro 1,429 billion in assets under management as of December 31, 2016.
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.
The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.
It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.
by Penny Angeles-Tan | Apr 27, 2017 | Business
Charter Ping An recently turned over a check for 46 million pesos to Grand Sierra Pines Hotel, less than a month after BTG Holdings, Inc., owner of the boutique hotel in Baguio, completed its insurance claim documents.
In a simple ceremony held at the AXA Philippines head office, Mr. Ray Florence Reyes (middle), President and CEO of BTG Holdings, received the check with his father, Mr. Cesar Reyes (2nd from right) and brother Mr. Jay Reyes (2nd from left) from Mr. Noel Que, Senior Management Advisor and Business Development of Charter Ping-An (leftmost) and Mr. Peili Zhang, Chief Technical Officer of Charter Ping An.
As first-time clients of Charter Ping An, BTG Holdings was pleased with the quick delivery of the check that will be used to repair property damages from Typhoon Lawin.
Axa acquires Charter Ping An
Charter Ping-An was acquired in April 2016 by AXA Philippines, the number one global insurance brand for the 8th consecutive year according to Interbrand.
Aftab Ahmed, Citi Philippines Chief Executive Officer said, “This is Citi’s 116th year of serving the Philippines and we owe our continued leadership in the country’s banking sector, to the loyal support of our valued clients. Our wealth managers are committed to guiding our clients make sound investment decisions.” 
Manoj Varma, Citibank Consumer Business Manager, shared Ahmed’s optimism “because of the opportunities and growth I see in the Philippines.” Varma said, “The Philippines remains as one of the fastest growing economies in the world. The demographics are supportive of growth. The population is young, productive, and growing. The financial industry still sees a lot of opportunities.”
In a simple ceremony held at the 
Charter Ping-An was acquired in April 2016 by AXA Philippines, the number one global insurance brand for the 8th consecutive year according to Interbrand.
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