China Bank raises capital of investment bank unit to P2B from P500M

CHINA Banking Corp., a listed affiliate bank of retail giant SM group, has approved the increase in capital of its investment bank subsidiary China Bank Capital Corp. (CBCC) to boost the latter’s capability to handle bigger deals.

China Bank said its board of directors in a meeting on February 1 approved the increase in the authorized capital stock of CBCC to P2 billion from P500 million previously.