Philippines' Metrobank board OKs up to PHP 20 billion negotiable CDs

By Marisa Wong

Madison, Wis., Oct. 24 - Metropolitan Bank & Trust Co. (Metrobank) said its board approved the issue of up to PHP 20 billion of long-term negotiable certificates of deposit.

Metrobank expects to launch the first tranche of negotiable CDs early next year.

The Makati City, Philippines-based bank said it intends to take advantage of the ample liquidity in the market and to lock in long-term funding.

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