Philippine Business Bank plans up to PHP 5 billion negotiable CDs

By Marisa Wong

Madison, Wis., Dec. 19 - Philippine Business Bank said its board of directors has approved the issuance of up to PHP 5 billion of long-term negotiable certificates of time deposits.

The negotiable CDs will be issued in two or more tranches over the period of one year.

Proceeds will be used to fund the bank's expansion program and boost its profitability by increasing its deposit base.

The bank is based in Caloocan City, Philippines.

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