In a bid to create One BPI, Bank of the Philippine Islands (BPI) has announced on Jan. 20 that it will merge with BPI Family Savings Bank (BFSB). The merger with its wholly owned thrift bank subsidiary, which is subject to shareholder and regulatory approvals, will see BPI as the surviving entity.
“This merger has the best interests of our customers and employees in mind. As One BPI, our 8.5 million customers will be able to enjoy the full suite of the BPI group’s products, via all our digital and physical channels. Similarly, as One BPI, our employees will have the ability to work across a larger, more varied bank, while having continuity of tenure and job level,” said BPI President and CEO and BFSB Chairman Cezar P. Consing in a press statement.(more…)