AUB board approves Tier 2 note issue

Asia United Bank Corp. has approved the issuance of Tier 2 notes in a bid to raise funds for the company’s growth initiatives.

In a disclosure to the Philippine Stock Exchange, the bank said its board of directors approved the issuance of Tier 2 notes “to support the growth strategy of the bank.” The issue will still be subject to the approval of the Bangko Sentral ng Pilipinas.