Business World Online

Philippine central bank approves merger between China Bank unit and rural bank

The central bank of the Philippines approved the merger between China Bank Savings In and rural bank Unity Bank Inc, expanding China Bank's network to 90 branches.

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JG Summit raises more funds for Meralco stock purchase

Philippine-based JG Summit Holdings Inc raised PHP8.8 billion through an overnight equity placement to fund a stake acquisition in Manila Electric Company (Meralco) and other corporate purposes.

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