<article>Philippine-listed <a style="color: #000080;" href="http://www.rcbc.com">Rizal Commercial Banking Corp (RCBC)</a> is raising its shareholdings in one of its subsidiaries &#8211; RCBC Leasing &amp; Finance Corp &#8211; by P500 million ($11.28 million).</article>

Philippine-listed <a style="color: #000080;" href="http://www.rcbc.com">Rizal Commercial Banking Corp (RCBC)</a> is raising its shareholdings in one of its subsidiaries &#8211; RCBC Leasing &amp; Finance Corp &#8211; by P500 million ($11.28 million).
In a disclosure to the stock exchange, the universal bank said its board of directors had approved the subscription of RCBC Leasing &amp; Finance Corporation shares worth P500 million, subject to approval by the Philippine central bank or Bangko Sentral ng Pilipinas.
The Yuchengco-led bank likewise announced the appointment of Raul Victor B Tan as acting treasury group head, concurrent with his role as the retail banking group head effective, March 1, 2015.
According to the corporation, Tan is a seasoned banker with more than 30 years of banking experience particularly in treasury and investment banking. He has been with the banking group since 2008 and was appointed group head of retail banking in August 2013. Tan graduated with a BS Management degree at the Ateneo de Manila University and obtained Masters in Business Administration from Fordham University.
The group is now on its 55th year has 14 subsidiaries that include, RCBC Capital Corp, Bankard Inc, Merchants Savings and Loan Association Inc, RCBC International Finance Ltd, RCBC Investment Ltd, RCBC North America Inc, RCBC Forex Brokers Corp, RCBC TeleMoney Europe Spa, RCBC-JPL Holding Company Inc, RCBC Leasing and Finance Corp, and Niyog Property Holdings Inc.
It&#8217;s last traded price was at P46.95, down by P0.95 or 1.98 per cent to yesterday&#8217;s P47.90.
Also Read: <a style="color: #ff0000;" title="PH Central Bank okays RCBC’s share sale to Cathay Life" href="http://www.dealstreetasia.com/stories/ph-central-bank-okays-rcbcs-share-sale-cathay-life-3280/" rel="bookmark">PH Central Bank okays RCBC’s share sale to Cathay Life</a>

Philippine-listed Rizal Commercial Banking Corp (RCBC) is raising its shareholdings in its subsidiaries - RCBC Leasing & Finance Corp - by P500 million

RCBC subscribes to additional shares worth $11.28m in own subsidiary

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

RCBC subscribes to additional shares worth $11.28m in own subsidiary

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief