September 27, 2007 Updated 16:44:29 (Mla time) Rocel Felix Thomson Financial
MANILA, Philippines -- Bank of the Philippine Islands (BPI), the nation's third largest bank, said Thursday it expects its global remittance business this year to maintain its annual growth pace of 19-20 percent, supported by robust remittances from Filipinos working overseas.
"At this rate, we are outpacing the growth in the domestic remittance business, which as of July was at 16-17 percent," BPI's global remittance vice-president, Raul Dimayuga, told a briefing.
Dimayuga said he is confident revenue from remittances will exceed P3 billion this year.
In 2006, BPI's revenue from remittances was P2.8 billion. [Read more]
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