China Bank Savings Receives Capital Infusion

Makati—(PHStocks)—China Banking Corp.‘s (PSE: CHIB) Executive Committee has approved the bank’s capital infusion of PhP2 billion to China Bank Savings Inc. (CBSI), as mandated by the Bangko Sentral ng Pilipinas (BSP) for its final approval of the plan of merger between CBSI and Planters Development Bank (PDB). The capital infusion will be done upon receipt from the Securities and Exchange Commission of its approval of the merger of CBSI and PDB and increase in CBSI authorized capital.

This latest capital infusion will bring the combined capital position of CBSI and PDB to PhP6.1 billion. The enhanced capital position will support future business growth of CBSI/PDB in 2016 as it continues to expand in the consumer and SME sectors.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.