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BPI eyeing bid for Citi consumer, retail banking business

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Ayala-led Bank of the Philippine Islands (BPI) is keen on bidding for the Philippine consumer and retail banking business of Citi, which plans to exit this segment as part of a global downsizing program. | Philbizwatcher

Asked about Citi’s exit from retail and consumer banking, BPI president Teodoro Limcaoco said at a press briefing on Thursday that BPI would “take a look” as soon as a divestment process was

in place, adding that BPI had “always been admirers” of Citi’s retail business.If given such an opportunity, he said BPI would have sufficient capitalization to take on Citi’s domestic assets.

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