Regulatory Alerts2024-03-19
Surrender of Robinsons Bank Corporation Trust License Following Transfer to BPI Wealth
The Bangko Sentral ng Pilipinas issued this circular to confirm the surrender of Robinsons Bank Corporation's trust license following its merger with the Bank of the Philippine Islands. The Monetary Board approved the transfer of ROBBC's trust business to BPI Wealth, which subsequently surrendered its Certificate of Authority to engage in trust activities to the central bank. This action formalizes the integration of ROBBC's fiduciary operations into BPI Wealth as part of the broader merger resolution.
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