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3 years ago
Taiwan's Cathay Financial says open to buying more shares in RCBC
December 17, 2014 / 7:32 AM / 3 years ago

Taiwan's Cathay Financial says open to buying more shares in RCBC

MANILA (Reuters) - Cathay Financial Holding Co Ltd (2882.TW) is open to buying more shares in Rizal Commercial Banking Corp (RCBC) (RCB.PS), its president said on Wednesday.

Cathay Financial said on Tuesday its board had approved its insurance unit's 17.9 billion peso ($400 million) investment in RCBC, taking a 20 percent stake in the Philippines' ninth largest lender by assets.

"Definitely we are interested to invest for more," Cathay President Lee Chang-Ken told reporters when asked if the company was looking to acquire more shares in the Philippine lender.

Reporting By Neil Jerome Morales; Editing by Anupama Dwivedi

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