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Export and Industry Bank, Inc.
| Export and Industry Bank, Inc. (EIBA) is engaged in the business of commercial banking, and of trust and funds management. EIBA represents the combined entity resulting from its merger on January 31, 2002 with Urban Bank, Inc. (UBI) and Urbancorp Investments, Inc., with the UBI as the surviving entity which upon the merger was renamed to its current company name. Shortly after, EIBA initiated steps to undergo quasi-reorganization in 2005 which entails, among others, capital infusion from new investors and existing shareholders alike and the sale of its non-performing assets (NPA). The capital infusion was primarily aimed to strengthen EIBA's capital base to meet the requirements of PAS 39 and other international accounting standards. While the sale of its NPAs would allow EIBA to reduce its NPA ratio, improve profitability and add to the capital infusion. EIBA's products and services consist of deposit services, corporate and consumer loans, trade finance, treasury services, trust banking services, and transaction banking. EIBA's clientele include high net worth individuals, prime corporate accounts, exporters, SMEs and individual/retail accounts. As of December 31, 2010, EIBA operates 50 branches and 44 onsite and 1 offsite automated teller machines located nationwide. On July 16, 2010, the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) approved-in-principle the acquisition by Banco de Oro Unibank, Inc. (BDO) of all of EIBA's recorded assets and its assumption of all of EIBA's recorded liabilities. In a special stockholders' meeting in September of the same year, EIBA stockholders approved and confirmed the sale. In a letter dated April 8, 2011, Philippine Deposit Insurance Corporation (PDIC) informed EIBA about its approval of the sale of EIBA's assets in favor of BDO in consideration of the latter's assumption of EIBA's liabilities, as well as all of its deposit liabilities. The transaction between EIBA and BDO is subject to the execution of definitive agreements and documentation acceptable to the parties and the PDIC and the fulfillment of certain closing conditions, which include the final approval of BSP. Source: SEC Form 17-A (2010) |
| Sector | Financials |
|---|---|
| Subsector | Banks |
| Corporate Life | 50 |
| Incorporation Date | Jul 08, 1980 |
| Number of Directors | 18 |
| Stockholders' Meeting as per By-Laws | April - any day |
| Fiscal Year | 12/31 (Month/Day) |
| External Auditor | Punongbayan & Araullo |
| Transfer Agent | Professional Stock Transfer, Inc. |
| Business Address | Export Bank Plaza, Chino Roces cor. Sen. Gil J. Puyat Aves., Makati City 1200 |
|---|---|
| E-mail Address | [email protected] |
| Telephone Number | |
| Fax Number | 887-9974 / 70; 878-0391 |
| Website | http://www.exportbank.com.ph |
