The Bank of the Philippine Islands (BPI) is anticipating the completion of its merger with Robinsons Bank Corp., a Gokongwei-led commercial bank, on the first day of January 2024 pending regulatory approval, according to BPI President Jose Teodoro “TG” Limcaoco during a media briefing on August 1.
The merger, announced in October 2022, will establish BPI as the surviving bank while Robinsons Bank Corp. shareholders will hold 6% of BPI’s outstanding capital stock, and it is expected that the necessary approvals will be obtained by the fourth quarter of the year.
The specifics of the merger, including branch operations and staff integration, are currently being evaluated, with assurances that all Robinsons Bank Corp. employees will be absorbed by BPI.
