Anti-trust agency approves merger of BPI, Robinsons Bank

The Philippine Competition Commission approved the merger of Bank of the Philippine Islands and Robinsons Bank Corp.

“The Philippine Competition Commission released to BPI the signed decision clearing the proposed merger between BPI and RBC,” BPI said. It said that pursuant to the comments of the BSP, the word “substantially” was deleted under the special provisions section of the plan of merger and replaced with “approved by at least a majority of”.

Stockholders representing at least two-thirds of the outstanding shares of BPI approved at the special stockholders’ meeting on Jan. 17, 2023 the merger between BPI and RBC, with BPI as the surviving bank.

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