Friday, September 30, 2022

BDO To Infuse More Capital In BDO Network Bank

THE PHILIPPINE POST

BDO To Infuse More Capital In BDO Network Bank

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BDO Unibank, Inc. (BDO), has disclosed plans to increase the capital position of its rural banking arm BDO Network Bank (BDONB), by up to P2.0 billion, to be funded through the issuance of primary common shares.

The capital increase will allow BDONB to support the sustained expansion in its salary loan and micro small & medium enterprises (MSME) portfolios, which have a compounded annual growth rate (CAGR) of 28% over the last 3 years to P37 billion. Further, this will enhance BDONB’s ability to cover and serve more markets, particularly the unbanked and the underserved segments of the population.

BDONB’s major shareholders, BDO, with an 85% stake, and Osmanthus Investment Holdings Pte. Ltd, with a 15% stake, have committed to participate in the capital-raising activity up to their proportionate shares. The capital plan will be implemented through periodic subscriptions of primary common shares up to P2.0 billion.

The capital-raising plan will be subject to regulatory approvals.

While BDONB has experienced strong growth in recent years, there is no guaranty that BDONB will be able to continue with a similar growth trajectory.

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