BSP approves additional capital for CityState bank
This bank will have more funding to work on.
CityState Savings Bank has new blood to run in its veins. This, after the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) approved its proposal to accept fresh capital from two of its sister companies.
The AMB. ALC Holdings and Management Corporation and Top Ventures Investments and Management Corporation are infusing P180 million and P78 million, respectively, to the thrift bank owned by former Ambassador Antonio Cabangon-Chua.
The BSP approved their request in Nov. 16, paving the way for the deal to be carried out.