DEBT-watcher Moody’s Investors Service said on Friday that the capital raising programs of the Bank of the Philippine Islands (BPI) and the Philippine National Bank (PNB) are credit positive as they will increase the banks’ loss-absorption capacity.
BPI earlier announced that its P25-billion new capital will be raised through a stock rights issue. The bank issued 370.37 million new common shares to existing shareholders at P67.50 a share.
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