China Bank pays $158-M loan ahead of schedule


Posted at Jul 17 2017 11:47 AM

MANILA - China Banking Corp said Monday it paid off a $158-million loan due to strong growth in foreign currency deposits.

An initial payment of $60 million was made for the loan due in June 2018. The balance was paid last June 29, the bank told the stock exchange.

Proceeds from the loan, which was secured in 2015, were used to fund corporate borrowings and financing deals, the bank said.

China Bank shares were up 0.27 percent to P36.70 in early trading on Monday.