Jejomar Binay Acquires 30% Shares in an American Bank

The leader of the Philippines’ United Opposition, Jejomar Binay, has acquired 30% percentage shares in Valley National Bancorp, Wayne in New Jersy.

The deal which is said to be a 70-30 ownership for the bank and Jejomar Binay respectively will see the 2016 Presidential Candidate chairing the board of the bank.

In a tweet, the bank’s Acting CEO, Dr. Michael Asabere welcomed Jejomar Binay to the bank and assured customers that his addition indicates how global the bank has become.

Financial details were not make known in the Bank’s newsletters to its customers but billions of dollars is estimated to have gone into this deal.

The Filipino community in the United States has questioned the source of funds of the former Vice President’s investment in the States.

Valley National Bancorp is a regional bank holding company headquartered in Wayne, New Jersey with over $19 billion in assets. Its principal subsidiary, Valley National Bank, currently operates 209 branch locations serving 30 counties throughout northern and central New Jersey, Manhattan, Brooklyn, Queens, Long Island and Florida.

Valley National Bank is one of the largest commercial banks headquartered in New Jersey

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