Robinsons buys 4.4% more of BPI to control 10.4% of the bank

Robinsons Retail Holdings (RRH) has announced that it is acquiring an additional 4.4% shares of stocks of BPI, increasing their total controlling shares to 10.4% of BPI.

Details of the additional purchase we released last January 5, 2023 in a press release.

Back in September 2022, Robinsons Bank and Bank of the Philippine Islands agreed on a corporate merger with BPI as the surviving bank.

In an article we published last June 2022 [“Ranked: Biggest Banks in the Philippines (by Total Assets)”], we listed Robinsons Bank (assets: Php176USD 3INR 254EUR 3CNY 22.9B, liabilities: Php158USD 3INR 228EUR 3CNY 20.6B) as the 17th biggest bank in the Philippines.

On the other hand, BPI was ranked 4th on the same list with total assets of Php2USD 0.03INR 3EUR 0.03CNY 0.25,102B (liabilities: Php1USD 0.02INR 1EUR 0.02CNY 0.12,810B).

The BPI-Robinsons merger could place BPI at 3rd spot, displacing Metrobank.