BSP approves BPI-Robinsons Bank merger
BSP approved the merger between Bank of the Philippine Islands (BPI) and Robinsons Bank on December 14.
The merger, set to take effect in January 2024, is contingent upon SEC approval.
Under the P32-billion deal, BPI will issue shares to JG Summit Holdings and Robinsons Retail Holdings for their stake in Robinsons Bank.
Post-merger, BPI will remain the third largest bank by total assets and deposits.
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