Regulatory Alerts2024-01-19
CL-2024-005: Merger of Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation, with BPI as the Surviving Bank
The Bangko Sentral ng Pilipinas issued Circular Letter CL-2024-005 to inform supervised financial institutions of the merger between Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation. The Securities and Exchange Commission approved the transaction, under which BPI acts as the surviving entity absorbing all assets and liabilities of Robinsons Bank Corporation. This merger officially took effect on 1 January 2024.
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