East West Bank's board OKs P5b worth of preferred shares
The bank's capital adequacy ratio and Tier 1 ratio as of end-2013 stood at 17 percent and 13.8 percent, respectively.
The board also authorized the bank to engage in bancassurance business and in non-life insurance either as a general agent or broker.
It said it would present the approvals during the annual stockholders' meeting on April 25, 2014 for ratification.
Earlier, the Bangko Sentral ng Pilipinas approved the proposed merger of EastWest and the Agusan del Norte-based Green Bank, with EastWest as the surviving entity. [Pg. 10] via: Manila Standard Today
|Source Institution||Securities and Exchange Commission|
|Place of Publication||Mandaluyong City|
|Original Publication Date||April 15, 2014|