City Savings to raise ₧10B by issuing long-term NCDs - BusinessMirror

SINGAPORE—City Savings Bank Inc. , the thrift bank unit of publicly-listed Union Bank of the Philippines, plans to raise as much as P10 billion via the issuance of long-term negotiable certificates of deposits to further grow its lending business.

“In terms of growing the business, we’re also quite successful at it. In fact, we’re so successful that we need to raise money. What we’re doing is we’re having a long-term note issuance, which is actually ongoing. Now that will happen by the end of this month so that we can keep up with our portfolio,” he said.CSBI currently has a loan book value of P85 billion and a deposit base of P100 billion.

“That one is being worked out right now between HSBC, our arranger, and the different borrowers,” Ocampo said. “We’re looking at P5 billion, but we can extend to P10 billion; all for lending.”

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong central bank raises interest rate after Fed, warns of borrowing risksThe Hong Kong Monetary Authority raised its base rate charged through the overnight discount window by 75 basis points to 4.25 percent, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »