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September 24, 2023

Robinsons Bank to name new independent director

Robinsons Bank Corp. headed by Elfren Antonio Sarte is set to name Ernesto Santiago as a new independent director.

The Gokongwei-led bank said Santiago is set to fill up the position vacated by Roberto Gaerlan who ceased serving as independent director last May19.

Other independent directors include David Mercado, Hermogenes Roxas, Teodoro Panganiban, and Catalino Abacan.

Aside from Sarte, other executive directors of Robinson Bank include Lance Gokongwei who is serving as chairman, Frederick Go who is vice chairman, Robina Gokongwei-Pe, Patrick Henry Go, and Omar Byron Mier.

Robinsons Bank, the financial services arm of the JG Summit Group of Companies, is one of the fastest growing commercial banks in the Philippines in terms of capitalization and asset size.

The bank is 60 percent owned by JG Summit Capital Services Corp. and 40 percent owned by Robinsons Retail Holdings Inc.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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