Robinsons Retail Holdings (RRH) has announced that it will acquire an additional 4.4% of BPI’s stock, bringing its total controlling stake to 10.4%.
On January 5, 2023, we issued a press release describing the additional acquisition.
Robinsons Bank and Bank of the Philippine Islands agreed to a corporate merger in September 2022, with BPI as the surviving bank.
In a June 2022 article titled [“Ranked: Biggest Banks in the Philippines (by Total Assets),” we ranked Robinsons Bank as the 17th largest bank in the Philippines (assets: Php176.9B, liabilities: Php158.8B).
BPI was ranked fourth on the same list, with total assets of Php2,102 billion (liabilities: Php1,810B).
The BPI-Robinsons merger can potentially place BPI in third place, displacing Metrobank.