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International cellphone money transfers on the rise PDF Print E-mail
SAN MIGUEL, PHILIPPINES
electronic walletDennis Tiangco checks a text message while at a bank confirming the allowance sent by his mother in Hong Kong through his cellphone in San Miguel, Philippines, on Sept. 6.
Last Updated on Thursday, 14 August 2008 02:58
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Rural Bank Undertakes Upper Tier 2 Capital PDF Print E-mail

    Nueva Ecija-based GM Bank Inc. has become the first rural bank (RB) to issue an upper Tier 2 capital eligible subordinated notes.
    Bangko Sentral ng Pilipinas(BSP) Deputy Governor for bank supervision and examination Nestor Espenilla Jr. confirmed that GM Bank is indeed the first RB to raise capital via subordinated note issue.
     "This is the first subordinated debt/Tier 2 issue for a rural bank. We look forward to other rural banks taking advantage of this instrument to strengthen their capital base, improve capital adequacy ratios, and support their expanding loan portfolios in the countryside,”Espenilla said. 

Last Updated on Tuesday, 12 August 2008 05:44
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GM Bank of Luzon, Inc. (A Rural Bank) is regulated by the Bangko Sentral ng Pilipinas with contact number (02) 8708-7087 and with e-mail address consumeraffairs@bsp.gov.ph.
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