BPI Thrift Banks Merger Gets BSP Nod; Consolidation Continues
Ayala-led Bank of the Philippine Islands (BPI) has received approval from the Bangko Sentral ng Pilipinas (BSP) for the merger of its thrift banking arms, BPI Direct BanKo Inc. and Legazpi Savings Bank Inc. This move is seen as a further acceleration of consolidation within the Philippine financial sector.
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