Sunday 21 October
Powered by Ajaxy
Jun 10, 2018 @ 23:04

Robinsons Bank to raise P5B from term deposit offer

 

The financial services arm of the taipan John Gokongwei’s JG Summit Holdings Inc. has been cleared by the Bangko Sentral ng Pilipinas to issue P5 billion worth of long-term negotiable certificates of deposits (LTNCDs).

The LTNCDs, which offer higher interest rates, have a tenor of five years and six months.

Robinsons Bank has mandated ING Bank NV as selling agent.

LTNCDs are negotiable certificates of time deposits offering higher interest rates compared to regular savings accounts. They and are tax exempt for qualified individuals if held for at least five years.

Please follow and like us:

Tags: , , , , ,

Related Stories
Commercial bank Robinsons Bank plans to upgrade its status to a universal lender as part
This bank's fundraising plan is off to a good start.
This foreign insurer will have a wider footprint in the Philippines.


 

Trending News

Recommended on sister sites

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