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Oct 2, 2017 @ 14:41

China Bank gets SEC nod for P8-B capital hike


The regulator has given its seal of approval for the bank’s increased capital stock.

China Banking Corp. said its planned capital hike has won the nod of the Securities and Exchange Commission (SEC).

In a disclosure, China Bank said the corporate regulator has approved the amendments to its articles of incorporation to accept the increase in the bank’s capital stock from P25 billion to P33 billion on Friday, Sept. 29.

The Bangko Sentral ng Pilipinas already approved the P8-billion increase in August, months after the bank owned by bilyonaryo Henry Sy announced such a plan back in May.

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