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Nov 29, 2017 @ 8:12

Is this a sign of better things to come for RCBC?


Helen Dee, the daughter of the late banking and insurance tycoon Alfonso T. Yuchengco, has acquired an additional 398,804 shares of Rizal Commercial Banking Corp.

The transaction was disclosed by RCBC in a filing with securities regulators.

Dee, chairman of RCBC, purchased 267,080 shares at P53.275 on Nov. 20. She acquired another 131,723 shares at P52.44 on Nov. 21.

Following this transaction, Dee’s stake has increased to .0727 percent of the bank’s share capital.

The transaction reflects her confidence in the bank’s potential. Just last month, RCBC denied it was in talks for the sale of a majority stake with the Ayala family’s Bank of the Philippine Islands and Sy -led BDO Unibank Inc.

RCBC was embroiled in a high-profile laundering controversy when it was used as conduit by unknown cyber criminals who tried to steal nearly $1 billion from the Bangladesh Bank in February 2016.

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