Robinsons buys 4.4% more of BPI to control 10.4% of the bank

Robinsons Retail Holdings (RRH) has announced that it is acquiring an additional 4.4% shares of stocks of BPI, increasing their total controlling shares to 10.4% of BPI.

Details of the additional purchase we released last January 5, 2023 in a press release.

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Back in September 2022, Robinsons Bank and Bank of the Philippine Islands agreed on a corporate merger with BPI as the surviving bank.

In an article we published last June 2022 [“Ranked: Biggest Banks in the Philippines (by Total Assets)”], we listed Robinsons Bank (assets: Php176.9B, liabilities: Php158.6B) as the 17th biggest bank in the Philippines.

On the other hand, BPI was ranked 4th on the same list with total assets of Php2,102B (liabilities: Php1,810B).

The BPI-Robinsons merger could place BPI at 3rd spot, displacing Metrobank.

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Avatar for Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

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