BPI bares plans to borrow $2B
This bank is joining the fund-raising party in the industry.
The Bank of the Philippine Islands (BPI) has announced its own capital-raising initiatives for 2018.
In a disclosure, the Ayala-owned bank said its board of directors has approved the a Medium Term Note Programme to the tune of $2 billion.
“The Programme is part of the Bank’s initiatives to maximize flexibility in accessing funding expediently,” BPI said in a statement. “The issuance of notes under the Programme shall be subject to market conditions and shall be determined by requirements of the Bank’s business.”
More funding means more business for this lender.