Alfredo Yao’s PBB gets SEC nod to raise capital to P15B to boost financial stability

Philippine Business Bank of Zest-O owner Alfredo Yao has secured the Securities and Exchange Commission’s approval to beef up its capitalization by P5 billion.

The SEC approved PBB’s increase in capital stock from P10 billion to P15 billion to further expand the bank’s core deposit and lending business.

The new capitalization consists of 1.37 billion common shares with par value of P10 per share and 130 million preferred shares with a par value of P10 apiece.

An expanded capital base will allow PBB to grow its risk assets and provide financing to its clients.

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