Philippine Savings Bank (PSBank) has received the central bank’s approval to raise funds through long-term negotiable certificates of deposit (LTNCD) to expand its consumer banking segment.
In a regulatory filing Tuesday, July 17, the listed savings banking arm of Metropolitan Banking & Trust Co. said it recently secured the approval from the Bangko Sentral ng Pilipinas (BSP) for its LTNCD program amounting to P15 billion.
In May, the bank’s board of directors approved of the issuance in two or more tranches and will be conducted over a year. — Karl Angelo N. Vidal

RELATED ARTICLESMORE FROM AUTHOR