CITY OF MALOLOS, Bulacan — BDO Unibank, Inc. (BDO) announced that its subsidiary, One Network Bank Inc. (ONB), has signed an agreement with Rural Bank of Pandi Inc. (RBPI) for the acquisition of the latter’s banking business in Bulacan.
The transaction is seen to provide ONB a stronger presence in the province and fast track its expansion in Central Luzon, one of the most progressive areas in the country.
The Andres and Santos families founded RBPI in 1967, and with their dedication and perseverance, established RBPI into one of the best performing rural banks with a strong SME presence in the province of Bulacan, where it currently has 12 branches.
The transaction is still subject to closing conditions and applicable regulatory approvals.
BDO is a full-service universal bank which provides a wide range of corporate and retail banking services. These services include traditional loan and deposit products, as well as treasury, trust and wealth advisory, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, credit card services and insurance and stock brokerage services.
BDO has one of the largest distribution networks, with more than 1,300 operating branches and over 4,000 ATMs nationwide. It also has full-service branches in Hong Kong and Singapore as well as 22 overseas remittance and representative offices in Asia, Europe, North America, and the Middle East.
BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of September 30, 2018. For more information, please visit www.bdo.com.ph. (RONDA Balita Online News)