PBB to raise P10B from notes offer
This bank from Caloocan City is off to conquer greater heights.
The Philippine Business Bank (PBB) wants to pursue its aggressive expansion plans this 2018 by raising additional capital which it needs. In a disclosure on Feb. 9, the bank owned by businessman Alfredo Yao bared their plan to raise up to P10 billion worth of Long-Term Negotiable Certificates of Deposit.
“The additional funding will allow the Bank to capitalize on attractive lending opportunities as the Philippine economy continues to expand,” PBB told the stock exchange.
PBB also revealed that its board of directors also instructed bank executives to start discussions on capital-raising, in order to “exploit opportunities in the banking sector.”