Philippine Savings Bank eyes PHP 15 billion 5½-year negotiable CDs

By Marisa Wong

Morgantown, W.Va., May 22 – Philippine Savings Bank said its board of directors has approved the issuance of up to PHP 15 billion of long-term negotiable certificates of time deposits with a tenor of 5½ years.

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

The issuance is still subject to approval from the Bangko Sentral ng Pilipinas.

PSBank is a Makati City, Philippines-based subsidiary of Metrobank Group.

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