BPI, Robinsons Bank merger gets shareholders’ approval

The proposed merger between the Bank of the Bank of the Philippine Islands and Gokongwei-led Robinsons Bank Corporation has secured the go signal from the Ayala-led bank’s shareholders.

“The proposed merger with Robinsons Bank Corporation will unlock various synergies across several products and service platforms and expand the customer and deposit base of both banks,” said BPI president and CEO Jose Teodoro Limcaoco. The BPI chief added that the merger will also expand BPI’s access to the Gokongwei network, especially to the Filipino-Chinese market segment, “which has been the significant advantage of our closest competitors.”

On effective date of the merger, BPI will issue primary common shares to the Robinsons Bank stockholders that will result in the Gokongwei-led bank’s shareholders owning approximately 6% of the resulting outstanding common shares of BPI.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BPI sees boost from Gokongwei network with Robinsons Bank mergerThe merger with Robinsons Bank would mean greater access to the Filipino-Chinese market segment, which has been the 'significant advantage' of competitors, says BPI president and CEO TG Limcaoco.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

BPI, Robinsons Bank merger gets shareholders’ approvalThe proposed merger between the Bank of the Bank of the Philippine Islands (BPI) and Gokongwei-led Robinsons Bank Corporation has secured the go signal from the Ayala-led bank’s shareholders.
Source: gmanews - 🏆 11. / 68 Read more »

BPI expects merger with Robinsons Bank to boost income, revenues - BusinessWorld OnlineBANK of the Philippine Islands (BPI) expects its net income to climb by 5-6% and its revenues to rise by around 7% once its planned merger with Robinsons Bank Corp. takes effect, its top official said. “Robinsons Bank is expected to expand BPI’s key balance sheet metrics by between 6.5%, maybe 7%. As mentioned over […]
Source: bworldph - 🏆 9. / 68 Read more »