September 30, 2022 (Friday) – News broke out about the merger of Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation (RBank), with the former as the surviving entity under a share-swap agreement. The ongoing transaction is scheduled to be completed before 2023 but is still subject to shareholder and regulatory approvals.
Who is BPI Bank?
The latest data from the Bangko Sentral ng Pilipinas (BSP) showed that BPI is the country’s second-largest private bank in assets, second to Sy-led BDO Unibank. BPI is the 3rd largest bank in the country, with BDO and Landbank taking first and second place.
Established in 1851, BPI is the first bank in the Philippines and the Southeast Asian region. Its first branch was located at the Aduana Building (also known as Aduana de Manila, Intendencia Building, or Manila Customs House) in Intramuros, Manila. The ruins of the building still stand today and are considered a historical site. If you happen to visit Intramuros, this building is in front of the BPI Intramuros branch along Plaza España, Soriano (Aduana) Ave., corner Muralla St.
BPI’s original name was El Banco Español Filipino de Isabel II, in honor of the reigning queen of Spain during that time. According to online records, the founding trustee of the bank was Don Antonio de Ayala. The Ayala family and the later Ayala Corporation were intimately related to the bank and the Philippines’ industrial development.
Read The Complete List of LandBank and UCPB Branches in Bulacan
Who is Robinsons Bank?
Robinsons Bank Corporation, also known as RBank, was founded in 1997 as a commercial bank that provides banking services for retail and business customers in the Philippines.
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 60.0% owned by JG Summit Capital Services Corp. and 40.0% owned by Robinsons Retail Holdings, Inc., a listed company since November 2013.
Robinsons Bank’s main office is located at Robinsons Bank Corporation 17/F, Galleria Corporate Center EDSA corner Ortigas Avenue, Quezon City.
BPI-RBank Merger
According to Fitch Ratings, the planned merger with Gokongwei-owned Robinsons Bank Corp. (RBC) may enhance the Ayala-led Bank of the Philippine Islands (BPI) market position.
“Beyond acquiring RBC’s existing customer base and more than 150 branches, BPI should also benefit from the strengthened ties with the Gokongwei Group, RBC’s major shareholder and one of the largest conglomerates in the Philippines, through improved access to new clients from the group’s vast business operations across the country,” Fitch Ratings’ director Tamma Febrian said.
Once the deal is done, RBC’s shareholders will hold approximately 6% of BPI’s resulting outstanding capital stock. On the other hand, BPI will also be taking over RBC’s 20% stake in digital lender GoTyme Bank, a joint venture between the Gokongwei Group and Tyme. GoTyme Bank was one of the six entities granted an online banking license by the Bangko Sentral ng Pilipinas.
What will happen to my Robinsons Bank accounts and loans?
According to a reliable Robinson’s bank representative, existing bank accounts, transactions, investments, and loans will not change or remain as is. It is best to contact your Robinsons bank branch for details.
BPI and Robinsons bank branches across Bulacan
Robinsons Bank Branches:
- Robinsons Bank Balagtas at Balagtas Town Center
- Robinsons Bank Malolos at Robinsons Place Malolos
- Robinsons Bank Meycauayan at Sterling Square Mall
- Robinsons Bank San Jose Del Monte along Quirino Highway
BPI Bank Branches:
| Branch | Address | Contact Number |
| Balagtas P. Burgos (McArthur Highway) | Mac Arthur Highway Corner P Burgos St., Brgy. Wawa, Balagtas, Bulacan | (044) 7691343 |
| Baliuag Rizal | B.S. Aquino Ave., Brgy. Bagong Nayon, Baliwag, Bulacan | (044) 7662426 |
| Baliwag | B.S. Aquino Ave., Brgy. Bagong Nayon, Baliwag, Bulacan | (044) 7662426 (044) 7612071 |
| Bocaue McArthur Highway | MacArthur Highway, Brgy. Wakas, Bocaue, Bulacan | (044) 8158118 |
| Bulacan Sta. Clara | By-Pass Road, Sta. Clara, Sta. Maria, Bulacan | (044) 7951434 |
| Guiguinto Cagayan Valley Rd | Cagayan Valley Rd, Brgy. Sta Cruz, Guiguinto, Bulacan | (044) 7944080 |
| Malolos Paseo | P. Burgos St., Brgy. Caingin, Malolos City, Bulacan | (044) 7961360 |
| Malolos McArthur Highway | McArthur Highway, Brgy. Guinhawa, Malolos, Bulacan | (044) 7607767 (044) 6621915 |
| Malolos Poblacion | P. Burgos St., Brgy. Caingin, Malolos City, Bulacan | (044) 7914014 (044) 7607712 |
| Marilao McArthur Highway | McArthur Highway, Brgy. Tabing Ilog, Marilao, Bulacan | (044) 7699083 |
| Meycauayan Banga | Candido P. Soriente Building, Brgy. Banga, Meycauayan, Bulacan | (044) 8120002 |
| Meycauayan Camalig | Candido P Soriente Building, Brgy. Camalig, Meycauayan, Bulacan | (044) 8158281 |
| Norzagaray PIP Shell Gas Station | Shell Gas Station, Crossing, Brgy Poblacion Norzagaray, Bulacan | (044) 8158190 |
| Plaridel National Highway | National Highway cor. J. Garcia Street, Brgy. Banga 1st, Plaridel, Bulacan | (044) 7953589 |
| San Jose Del Monte | F. Halili Ave., Brgy. Tungkong Mangga, San Jose Del Monte City, Bulacan | (044) 8158153 |
| San Miguel | Tecson St., Brgy. San Jose, San Miguel, Bulacan | (044) 7620330 |
| Sta. Maria | 84 J. Corazon De Jesus Street, Brgy. Poblacion, Sta. Maria, Bulacan 3022 | (044) 8154350 |
Sources:
- Agcaoili, L. (2022, October 1). Merger of BPI, Robinsons Bank completed by next year. Philstar.com. Retrieved October 17, 2022, from https://www.philstar.com/business/2022/10/02/2213622/merger-bpi-robinsons-bank-completed-next-year
- Fitch Ratings: Credit Ratings & Analysis for Financial Markets. (n.d.). Retrieved October 17, 2022, from https://www.fitchratings.com/research/banks/bpis-franchise-to-be-enhanced-by-robinsons-bank-merger-03-10-2022
- Neil. (2022, October 9). Planned merger with Robinsons Bank Corp. drives BPI Stock’s rise. BusinessWorld Online. Retrieved October 17, 2022, from https://www.bworldonline.com/corporate/2022/10/10/479359/planned-merger-with-robinsons-bank-corp-drives-bpi-stocks-rise/
- Rada, J. G. (2022, October 2). BPI and Robinsons Bank expect to complete merger by the end of 2023. Manila Standard. Retrieved October 17, 2022, from https://manilastandard.net/business/banking-report/314265079/bpi-and-robinsons-bank-expect-to-complete-merger-by-end-of-2023.html
- TED CORDERO, G. M. A. N. (2022, September 30). BPI, Robinsons Bank announce merger plans. GMA News Online. Retrieved October 17, 2022, from https://www.gmanetwork.com/news/money/companies/846566/bpi-robinsons-bank-announce-merger-plans/story/