More PH banks seeking fresh funds

More Philippine banks are raising fresh capital to boost their capability to oil the wheels of the growing domestic economy.

Sy family-led China Bank has obtained board approval to raise as much as P15 billion from the sale of peso-denominated debt notes qualifying as tier 2 or supplementary capital.

Separately, Philippine Savings Bank has obtained the green light from the Bangko Sentral ng Pilipinas to amend its articles of incorporation to expand its authorized capital stock to P6 billion divided into 600 million common shares from P4.25 billion divided into 425 million common shares.

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