EastWest Bank’s capital hike to P50B ok’d

/ 10:34 AM March 14, 2018

Gotianun-led East West Bank has obtained go-signal from the Securities and Exchange Commission to jack up its authorized capital to P50 billion from P20 billion, to support the bank’s aspiration to be a much bigger bank.


The new authorized capital consists of 4.5 billion common shares and 500 million preferred shares with a par value of P10 each.

Previously, the bank was authorized to issue only 1.5 billion common shares and 500 million preferred shares with par value of P10 each.


The SEC approved an amendment in the bank’s bylaw to reflect this increase in authorized capital. The goal is “to enhance board’s effectiveness in conducting its business and to provide flexibility to the bank for future capital requirements,” East West Bank said in a disclosure to the Philippine Stock Exchange on Wednesday.

Antonio Moncupa, East West vice chair and chief executive officer, had said that the bank’s architectural infrastructure had been designed to be a bigger bank.

Subscribe to Inquirer Business Newsletter
Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Antonio Moncupa, East West Bank, EW
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2020 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.