The Overseas Filipino Bank (OFBank) has raised $203,200 (Php 10,287,101*) through its recent retail dollar bond (RDB).
The subsidiary of the state-owned Land Bank of the Philippines (LandBank) has facilitated 242 transactions from 33 countries for the RDB offering of the Bureau of Treasury.
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The digital bank of the government in a statement said most investors were from Saudi Arabia, Qatar, United Arab Emirates, Kuwait, Philippines, Malaysia, Taiwan, Israel, Hong Kong and Singapore.
“Investing in government securities is now easier anytime, anywhere with the OFBank MBA. Our account holders don’t need to go outside and line up and accomplish various documents in a physical bank,” OFBank President and Chief Executive Officer (CEO) Leila Martin said.
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The OFBank allowed overseas Filipino workers (OFWs) to invest in RDBs through the bond purchase feature of its mobile banking app.
“Through our digital purchasing platform, we are also seeing an increased demand from our kababayans overseas to grow their income and expand their investment portfolio,” Martin said. (AW)
* USD 1 = Php 50.63
