Hoping to capitalize on ample liquidity in the financial market, the Gotianun family’s banking unit East West Banking Corpm plans to offer up to P10 billion worth of long-term negotiable certifcates of deposits (LTNCDs).

LTNCDs are similar to time deposits but have longer tenors. They are tax exempt for qualified individuals if held for at least five years.

Thia type of product caters to investors looking for a higher interest rate compared to regular savings accounts or shorter-term deposits.

LTNCDs are insured by the Philippine Deposit Insurance Corp. up to the maximum coverage per depositor, currently at P500,000.

EastWest is still on the lookout for acquisition opportunities in a bid to attain economies of scale and remain competitive.