MANILA – Sy-led Banco de Oro Unibank Inc. announced yesterday the approval by the Board of Directors of the Philippine Stock Exchange the bank’s plan to raise, through equity rights offer, up to $1 billion of additional Tier 1 capital.
In a disclosure with the PSE, BDO said the Bangko Sentral ng Pilipinas approved the capital-raising activity on May 15, 2012.
“This capital raising is intended to support the growth and expansion of the bank amidst the positive sentiments on the economy and at the same time strengthen the bank’s capital position in anticipation of new BASEL III requirements,” BDO Chair Teresita Sy, said.
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