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December 06, 2022

PBB’s Alfredo Yao infuses capital ahead of stock rights offering

The bank’s principal shareholders subscribed to P1.25 billion worth of ownership.

Bankero Alfredo Yao’s Philippine Business Bank (PBB) infused more capital in the lender ahead of its stock rights offering. The PBB board of directors approved a P5 billion capital increase, as reported on a regulatory filing.

The bank’s major shareholders likewise infused P312.5 million, adhering to the minimum paid-up capital requirement for the capital raise, which was classified as “deposit for future stock subscription.”

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