FILE PHOTO: A view of the logo of the Bank of the Philippine Islands on a building in Manila July 1, 2014. REUTERS/Romeo Ranoco
MANILA : The Philippines’ oldest lender said on Friday it is merging with a smaller commercial bank to expand its client base and fast-track growth.
In a disclosure, Bank of the Philippine Islands said it will be the surviving entity merging with unlisted Robinsons Bank. Stockholders of Robinsons Bank will own around 6 per cent of BPI, it added.
Source: Reuters