EastWest Bank sells P770M in deposit certificate sale

EastWest Banking Corp. raised P770 million by selling long-term negotiable certificates of deposit, the bank noted in a disclosure to the Philippine Stock Exchange on Friday. The latest issuance is the third tranche of its LTCND borrowing program to fund its expansion. "EW expects to continue the issuance program in several tranches within the period allowed by the Bangko Sentral ng Pilipinas but not to exceed P5 billion," the bank said. EastWest Bank raised P238.880 million in the second tranche of its LTNCD float early this year, after   the first tranche yielded P1.53 billion last November. A subsidiary of Gotianun-led Filinvest Development Corp., EastWest earlier noted its branches are now 255 FDC is one of the country’s premier conglomerates, with business interests in real estate, banking, sugar, hospitality and tourism, and power generation. The bank earlier said its total branches now number 255 from 245 as of end-2012 and 122 as of end-2011. It aims to have 350 branches next year. — VS, GMA News