This bank wants fresh capital.
The Metropolitan Bank and Trust Company (Metrobank) bared its plan to raise P25 billion in new capital on Thursday, April 26.
The bank owned by bilyonaryo George Ty disclosed that its board of directors approved the issuance of peso denominated long-term negotiable certificates of deposit. The fundraising exercise will be done in tranches of at least P2 billion each, with the papers to mature between 5.5 to 10 years.
This plan, however, still needs to secure the approval of the central bank.
