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Business > Corporate News
UnionBank capital stock hike gets BSP approval
by Ed Paolo Salting - Brix Lelis
Aug 17, 2023 12:21 am

ABOITIZ-LED Union Bank of the Philippines (UnionBank) said on Wednesday that the Bangko Sentral ng Pilipinas (BSP) had approved its application to increase its authorized capital stock to P60.3 billion from P35.3 billion.

'[T]he BSP, per its letter dated August 16, 2023, received by UnionBank on the same date, has approved on August 1, 2023 the amendment of its Articles of Incorporation to increase the authorized capital stock from P35,307,852,380.00 to P60,307,852,380.00,' the bank said in a disclosure.

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