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Philippine lender RCBC studying possible stake sale 

June 23, 2014
Siegfrid Alegado, Reuters

Philippine lender Rizal Commercial Banking Corp (RCBC) is studying option to sell a stake to raise capital to comply with regulations and support the bank's growth plans, its chief executive said late on Monday.

Manila's central bank in January imposed stiffer capital requirements under the Basel III framework, prompting many Philippine lenders to look for ways to raise capital buffers.

"Options to raise capital include a specific investor capital infusion," Lorenzo Tan, president and CEO with RCBC, said in a mobile text message response to Reuters questions on whether it is selling a stake.

Read More: Reuters

 
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