Lucio-Tan owned Philippine National Bank (PNB) has secured approval from the Bangko Sentral ng Pilipinas (BSP) to issue up to Php5 billion worth of long-term negotiable certificates of time deposit (LTNCD). According to PNB, proceeds from the issuance would be used for general corporate purposes and to fund various activities in improving banking operations. Recently, other banks have shown interest in issuing LTNCD’s as a way of raising additional funds and providing clients with alternative outlets for investment. These include RCBC, EastWest Bank, Union Bank and Metrobank.
Posted on: Thu, 18 Jul 2013 13:17:42 +0000
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