Monday 23 July
Powered by Ajaxy
Feb 10, 2018 @ 18:50

Alfredo Yao’s PBB offers P10B high-yield deposits

 

Philippine Business Bank is looking to raise as much as P10 billion from the sale of high-yielding deposit notes to support expansion plans.

In a statement, PBB said its board has authorized the management team to initiate capital raising discussions to allow the Alfredo Yao-owned bank to exploit opportunities in the banking sector.

Subject to regulatory approvals, PBB will convert existing preferred shares to common stock to further strengthen its balance sheet.

The banking arm of Zest-O group will use the additional funding to capitalize on attractive lending opportunities as the Philippine economy continues to expand.

Tags: , , , , , , ,

Related Stories
The showdown between the United States and China would not interrupt the Philippine economy.
Executives of Asia United Bank (AUB) are still optimistic with the Philippine economy despite the
The upgrade for the banking system followed the improved outlook on the economy.
International credit rating agencies are seeing that fiscal reforms are reaping good gains.


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.