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                    [ArticleID] => 186537
                    [Title] => Allied Bank buys 5% of New York Life
                    [Summary] => Allied Bank Corp. is reportedly buying a five-percent stake in New York Life Insurance Philippines Inc. for at least P75 million.


The equity acquisition paves the way for New York Life to sell its products within the premises of Allied Bank under the cross-selling circular recently issued by the Bangko Sentral ng Pilipinas (BSP).


Industry sources said the P75 million is just an "initial" payment and that the final acquisition may be more than five percent.


                    [DatePublished] => 2002-12-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [SectionName] => Business
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ALLIED BANK AND NEW YORK LIFE

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                    [ArticleID] => 186537
                    [Title] => Allied Bank buys 5% of New York Life
                    [Summary] => Allied Bank Corp. is reportedly buying a five-percent stake in New York Life Insurance Philippines Inc. for at least P75 million.


The equity acquisition paves the way for New York Life to sell its products within the premises of Allied Bank under the cross-selling circular recently issued by the Bangko Sentral ng Pilipinas (BSP).


Industry sources said the P75 million is just an "initial" payment and that the final acquisition may be more than five percent.


                    [DatePublished] => 2002-12-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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abtest

Allied Bank buys 5% of New York Life

December 4, 2002 - 12:00am

Allied Bank Corp. is reportedly buying a five-percent stake in New York Life Insurance Philippines Inc. for at least P75 million. The equity acquisition paves the way for New York Life to sell its products within...

Business