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BPI sees boost from Gokongwei network with Robinsons Bank merger

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The 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.

BPI plans to absorb the Gokongwei-led bank, subject to regulatory approvals from the Philippine Competition Commission, Bangko Sentral ng Pilipinas, and Securities and Exchange Commission.

Limcaoco added that the merger would “unlock synergies” across their products and platforms, citing the Gokongwei group’s empire, which includes food manufacturing, air transportation, real estate, property development, and retail. Once the merger is complete, all Robinsons Bank branches will be converted into BPI branches. But some branches may be closed down following a post-merger rationalization study, taking into account their location and BPI’s increasing digitalization.“Our plan is that the merger should not result in any layoffs on either side. They have an excellent workforce. We believe there is room for everyone in a merger,” he said.

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