By Nora Sorino
Iligan City Bureau Chief .
Amanah Islamic Bank president and chief executive officer Alex Bangcolo late last week has added his own voice regarding the collapse of Hanjin Heavy Industries and Construction Philippines.
He said that Hanjin has been in the news always lately after its reported financial collapse under the weight of its massive debts in banks here and even in Korea.
He said the bank has the capacity to acquire said company and proceeded to say how to go about it.
“This can be done through bond issuances,” Bangcolo said adding that the funds can be raised to acquire said bank.
He added that the Bangsamoro Organic Law can pave the way for the expansion of the coverage of the bank outside of Mindanao. This was what he told at CNN Philippines.
To note, said bank which was formerly named Philippine Amanah Bank is currently a subsidiary of the Development Bank of the Philippines.
Its branches are in this city of Iligan, Cotabato, Davao and General Santos.
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