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Gokongwei opts for BPI stake than scaling up RBC

The Gokongwei Group has opted to sell Robinsons Bank Corporation (RBC) for a 6 percent stake in Bank of the Philippine Islands (BPI) to spare itself the burden of raising a huge amount of capital to scale it up. “We reviewed our strategic options to determine its future and we are cognizant that b
Philippine Islands Philippines General Bangko Sentral Lancey Gokongwei Robinsons Retail Holdings Inc Philippine Competition Commission
Source: mb.com.ph

BPI acquires RBC via share swap

The planned merger of Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation (RBC) has been formally announced after the approval by the respective boards of directors of the two banks and their parent companies. This was disclosed to the Philippine Stock Exchange by BPI and RBC’s sha
Philippine Islands Philippines General Bangko Sentral Lancey Gokongwei Robinsons Retail Holdings Inc Philippine Competition Commission
Source: mb.com.ph

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